325000 1628-1630 Colorado Blvd. Denver, CO 80220
FOR SALE
$325,000
MADISON
1628-1630 Colorado Blvd. Denver, CO 80220
PROPERTY HIGHLIGHTS:
Ideal Location, Close to Downtown, City Park, Denver Zoo & Cherry Creek Hardwood Floors Ample Off-Street Parking Classic 1900’s Architecture Spacious Floor Plans Huge Lot Within Blocks of Nightlife, Theaters, Retail & Restaurants
$325,000 5 Units E XC L U S I V E L Y L I S T E D B Y :
Kyle Malnati & Jennifer Steinert 1221 S. Clarkson St. Ste. 300 Denver, CO 80210 Phone: (720) 210-8454 Phone: (303) 771-3850 Fax: (303) 200-7339 [email protected] [email protected]
EXCLUSIVELY LISTED BY:
Kyle Malnati & Jennifer Steinert Kyle Phone: (303) 358-4250 Jennifer Phone: (720) 210-8454 [email protected] [email protected]
INVESTMENT SUMMARY Price: $325,000
UNIT MIX AND AVERAGE RENT SCHEDULE: # Units
Unit Type
SF
Avg. Current Rent
Proforma
Price/Unit:
$65,000
1
Studio
340
$250
$450
Price/SF:
$73.53
1
1Br/1Ba
1000
$650
$750
1
2Br/1Ba
400
$300
$550
1
2Br/1Ba+Dining
1500
$850
$950
1
3.5Br/1Ba
1500
$700
$875
PROPOSED FINANCING Loan Amount:
$227,500
Down Payment:
$97,500
Interest Rate:
6%
Amortization:
30 years
Monthly Payment:
$1,364
PROPERTY DESCRIPTION
OPERATING DATA: INCOME
Current
Proforma
Gross Annual Rent:
$33,000
$42,900
something different.
Parking Income: Units:
5
Year Built:
1908
Building Size:
-
$1,200
Gross Scheduled Income:
$33,000
$44,100
4,420 SF + 1,476 Bsmt
Vacancy Allowance:
($1,650)
($2,145)
Lot Size:
8,350 SF
Effective Gross Income:
$31,350
$41,955
Zoning:
R3, Denver
Roof:
Pitched
Heat:
Steam Boiler
ESTIMATED EXPENSES
Current
Proforma
Parking:
9 Off-Street Spaces
Insurance:
$3,629
$1,250
Property Taxes:
$2,410
$2,410
Utilities:
$6,947
$6,947
Repairs & Maintenance:
$45
$2,500
Administrative:
$363
$500
Total Expenses:
$13,394
$13,607
Expenses per Unit:
$2,679
$2,721
Net Operating Income:
$17,956
$28,348
Current
Proforma
NOI:
$17,956
$28,348
Projected Debt Service:
($16,368)
($16,368)
Before Tax Cash Flow:
$1,588
$11,980
CAP Rate:
5.52%
8.72%
Cash-on-Cash Return:
1.63%
12.29%
Principle Reduction (yr. 1):
$2,794
$2,794
Total Return:
4.5%
15.2%
FINANCIAL ANALYSIS:
Please note, all information furnished in this presentation regarding this property for sale has been secured from sources we believe to be reliable. However, we accept no responsibility for its correctness and encourage the verification of all numbers prior to making any financial decisions. We owe duties to the seller, which include utmost good faith. We negotiate on behalf of and act as advocate for the seller. Please do not tell us any information that you do not want shared with the seller. You are not legally responsible for our actions. Although we do not represent you, we will disclose to you all adverse material facts about the property actually known to us. We will assist you without regard to race, creed, sex, religion, national origin, familial status or handicap.
$325,000
MADISON
1628-1630 Colorado Blvd. Denver, CO 80220
PROPERTY HIGHLIGHTS:
Ideal Location, Close to Downtown, City Park, Denver Zoo & Cherry Creek Hardwood Floors Ample Off-Street Parking Classic 1900’s Architecture Spacious Floor Plans Huge Lot Within Blocks of Nightlife, Theaters, Retail & Restaurants
$325,000 5 Units E XC L U S I V E L Y L I S T E D B Y :
Kyle Malnati & Jennifer Steinert 1221 S. Clarkson St. Ste. 300 Denver, CO 80210 Phone: (720) 210-8454 Phone: (303) 771-3850 Fax: (303) 200-7339 [email protected] [email protected]
EXCLUSIVELY LISTED BY:
Kyle Malnati & Jennifer Steinert Kyle Phone: (303) 358-4250 Jennifer Phone: (720) 210-8454 [email protected] [email protected]
INVESTMENT SUMMARY Price: $325,000
UNIT MIX AND AVERAGE RENT SCHEDULE: # Units
Unit Type
SF
Avg. Current Rent
Proforma
Price/Unit:
$65,000
1
Studio
340
$250
$450
Price/SF:
$73.53
1
1Br/1Ba
1000
$650
$750
1
2Br/1Ba
400
$300
$550
1
2Br/1Ba+Dining
1500
$850
$950
1
3.5Br/1Ba
1500
$700
$875
PROPOSED FINANCING Loan Amount:
$227,500
Down Payment:
$97,500
Interest Rate:
6%
Amortization:
30 years
Monthly Payment:
$1,364
PROPERTY DESCRIPTION
OPERATING DATA: INCOME
Current
Proforma
Gross Annual Rent:
$33,000
$42,900
something different.
Parking Income: Units:
5
Year Built:
1908
Building Size:
-
$1,200
Gross Scheduled Income:
$33,000
$44,100
4,420 SF + 1,476 Bsmt
Vacancy Allowance:
($1,650)
($2,145)
Lot Size:
8,350 SF
Effective Gross Income:
$31,350
$41,955
Zoning:
R3, Denver
Roof:
Pitched
Heat:
Steam Boiler
ESTIMATED EXPENSES
Current
Proforma
Parking:
9 Off-Street Spaces
Insurance:
$3,629
$1,250
Property Taxes:
$2,410
$2,410
Utilities:
$6,947
$6,947
Repairs & Maintenance:
$45
$2,500
Administrative:
$363
$500
Total Expenses:
$13,394
$13,607
Expenses per Unit:
$2,679
$2,721
Net Operating Income:
$17,956
$28,348
Current
Proforma
NOI:
$17,956
$28,348
Projected Debt Service:
($16,368)
($16,368)
Before Tax Cash Flow:
$1,588
$11,980
CAP Rate:
5.52%
8.72%
Cash-on-Cash Return:
1.63%
12.29%
Principle Reduction (yr. 1):
$2,794
$2,794
Total Return:
4.5%
15.2%
FINANCIAL ANALYSIS:
Please note, all information furnished in this presentation regarding this property for sale has been secured from sources we believe to be reliable. However, we accept no responsibility for its correctness and encourage the verification of all numbers prior to making any financial decisions. We owe duties to the seller, which include utmost good faith. We negotiate on behalf of and act as advocate for the seller. Please do not tell us any information that you do not want shared with the seller. You are not legally responsible for our actions. Although we do not represent you, we will disclose to you all adverse material facts about the property actually known to us. We will assist you without regard to race, creed, sex, religion, national origin, familial status or handicap.
