TITLE:
7 RUSTIC CABINS ON 4 ACRES WOODLAND PARK CO
CONTROL:
Exclusive
VALUE:
$950,000
LOAN:
$650,000
EQUITY:
$300,000
TYPE:
Multi-Family
HAVE:
7 leased cabins, and one shell of a cabin looking right at Pikes Peak. Steep and rustic, in the pines, just like y'all imagine Colorado to look.
ADDRESS:
1052 W US Highway 24, Woodland Park, Colorado
BENEFITS TO NEW OWNER:
Always leased cabins with big upside if upgraded. Strong rental demand next to a Bible College without housing. Can fix up one shell and probably add more. Assumable financing. Can be delivered free and clear.
GROSS SCHEDULED INCOME:
$87,660 Projected
VACANCY LOSS:
$1,000
GROSS EFFECTIVE INCOME:
$86,660
EXPENSES:
$29,100
NOI:
$57,560
DEBT SERVICE:
$0
CASH FLOW:
$57,560
CAP RATE:
6.06%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$600,000
$3,000
6%
12/31/1969
Yes
BENEFITS SOUGHT:
Take profit and move to the next deal. I like the property and the upside but I would prefer someone else do the work for the additional profit. I would love to deliver it free and clear and take my debt with me.
CAN ADD:
paper secured by income property, lots of land, small income properties, some cash
REMARKS:
I like the property and the upside but I would prefer someone else do the work for the additional profit. I would love to deliver it free and clear and take my debt with me
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs, Colorado, 80829
