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Excellent Investment
Opportunity 24
Unit Condominium Complex
Great
1031 Exchange property. Net-type investment due to strong HOA, management
and maintenance team in place. Rental increases for April & June 1st
already signed. Cash flow growing as Denver market improves. This is a
24-unit condo building in Aurora, CO built in 1985. They are built of
frame construction, composite shingled roof and have stone-constructed
chimneys. The unit mix consists of 12, 2-bed/1-bath units and 12,
2-bed/2-bath units, both approx. 815 sf. Both floor plans have full-size
washer/dryer hookups, ample closet space, private balconies, personal
storage units, fireplaces, air conditioning, double pane windows, private
outside entry, newer carpet, dishwashers, and garbage disposals.
| Year: |
2005 |
| Scheduled
Gross Income: |
$183,722 |
| Laundry
& Vending: |
$1,003 |
| Effective
Gross Income: |
$184,725 |
| Taxes
& Prop. Ins.: |
$16,572 |
| Utilities,
Water, Sewer & R&M: |
$13,558 |
| HOA
Fees: |
$35,900 |
| Admin
& Advertising: |
$2,240 |
| Total
Expenses: |
$68,270 |
| Net
Operating Income: |
$116,455 |
| Debt
Service: |
$105,467 |
| Pre-Tax
Cash Flow: |
$10,851 |
| Expenses/Unit: |
$2,845.00 |
| Expenses/SF: |
$3.49 |
|
| 2-Bedroom,
1-Bath |
No. Units:
12
SF: 814
Avg. Mo. Rent: $668
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| 2-Bedroom,
2-Bath |
No. Units:
12
SF: 816
Avg. Mo. Rent: $675 |
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| Debt
& Equity Information |
| Debt
Type: |
Proposed |
| Interest
Rate: |
6.27% |
| Amortized
Over: |
30 |
| Annual
Debt Service: |
$105,467 |
| Down
Payment: |
$615,000 |
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Download a Flyer
Full Listing Information: http://listing.loopnet.com/14537634
For more information, call:
Patrick Henry (303) 292-3700
Disclaimer. Executive 1031
Exchange Services assumes no liability for information posted on the
Replacement Properties Page.
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