8318-8324 West 26th Avenue Lakewood, CO 80214 - Denver
FOR SALE
$339,000
MADISON
8318-8324 West 26th Avenue Lakewood, CO 80214
PROPERTY HIGHLIGHTS:
PRICE REDUCED!! Ideal Location, Close to Downtown Edgewater & Sloan’s Lake $15,000+ Electrical Service Upgrade with New Equipment Including: Meters, Feed Wires, Main Disconnects - Each Unit Upgraded to 100amps Optimal Rowhome Layout with Individual Entrances and Back Patios and Spacious Floor Plans Ample Off-Street Parking Beautiful Landscaping Individual Furnaces and Water Heaters Minimize Landlord Expenses Tenants Pay Gas and Electric
$355,000
$339,000 4 - 2Br/1Ba E XC L U S I V E L Y L I S T E D B Y :
Kyle Malnati & Ryan Dillon, Stephanie Bulthaup 1221 S. Clarkson St. Ste. 300 Denver, CO 80210 Phone: (303) 771-3850 Fax: (303) 200-7339 [email protected]
INVESTMENT SUMMARY Price: $339,000 Price/SF:
UNIT MIX AND AVERAGE RENT SCHEDULE: # Units
Unit Type
SF
Avg. Current Rent
Proforma
4
2Br/1Ba
800
$674
$700
$105.94
PROPOSED FINANCING Loan Amount:
$271,200
OPERATING DATA:
Down Payment:
$67,800
INCOME
Current
Proforma
Interest Rate:
3.75%
Amortization:
30 years
Gross Scheduled Income:
$32,340
$33,600
Monthly Payment:
$1,256
Vacancy Allowance:
($1,617)
($1,680)
Effective Gross Income:
$30,723
$31,920
ESTIMATED EXPENSES
Current
Proforma
Insurance:
$2,704
$1,400
Property Taxes:
$2,350
$2,350
something different.
PROPERTY DESCRIPTION Units:
4
Unit Mix:
4 - 2Br/1Ba
Year Built:
1958
Building Size:
3,200 SF
Lot Size:
7,830 SF
Zoning:
5-R
Utilities:
$1,312
$1,312
Roof:
Pitched
Repairs & Maintenance:
$1,148
$2,000
Heat:
Gas Forced Air Furnaces
Parking:
Off-Street
Administrative:
$226
$400
Trash:
$614
$614
Total Expenses:
$8,354
$8,076
Expenses per Unit:
$2,089
$2,019
Net Operating Income:
$22,369
$23,844
Current
Proforma
NOI:
$22,369
$23,844
Projected Debt Service:
($15,072)
($15,072)
Before Tax Cash Flow:
$7,297
$8,772
Cash-on-Cash Return:
10.76%
12.94%
Principle Reduction (yr. 1):
$4,987
$4,987
Total Return:
18.1%
20.3%
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.
$339,000
MADISON
8318-8324 West 26th Avenue Lakewood, CO 80214
PROPERTY HIGHLIGHTS:
PRICE REDUCED!! Ideal Location, Close to Downtown Edgewater & Sloan’s Lake $15,000+ Electrical Service Upgrade with New Equipment Including: Meters, Feed Wires, Main Disconnects - Each Unit Upgraded to 100amps Optimal Rowhome Layout with Individual Entrances and Back Patios and Spacious Floor Plans Ample Off-Street Parking Beautiful Landscaping Individual Furnaces and Water Heaters Minimize Landlord Expenses Tenants Pay Gas and Electric
$355,000
$339,000 4 - 2Br/1Ba E XC L U S I V E L Y L I S T E D B Y :
Kyle Malnati & Ryan Dillon, Stephanie Bulthaup 1221 S. Clarkson St. Ste. 300 Denver, CO 80210 Phone: (303) 771-3850 Fax: (303) 200-7339 [email protected]
INVESTMENT SUMMARY Price: $339,000 Price/SF:
UNIT MIX AND AVERAGE RENT SCHEDULE: # Units
Unit Type
SF
Avg. Current Rent
Proforma
4
2Br/1Ba
800
$674
$700
$105.94
PROPOSED FINANCING Loan Amount:
$271,200
OPERATING DATA:
Down Payment:
$67,800
INCOME
Current
Proforma
Interest Rate:
3.75%
Amortization:
30 years
Gross Scheduled Income:
$32,340
$33,600
Monthly Payment:
$1,256
Vacancy Allowance:
($1,617)
($1,680)
Effective Gross Income:
$30,723
$31,920
ESTIMATED EXPENSES
Current
Proforma
Insurance:
$2,704
$1,400
Property Taxes:
$2,350
$2,350
something different.
PROPERTY DESCRIPTION Units:
4
Unit Mix:
4 - 2Br/1Ba
Year Built:
1958
Building Size:
3,200 SF
Lot Size:
7,830 SF
Zoning:
5-R
Utilities:
$1,312
$1,312
Roof:
Pitched
Repairs & Maintenance:
$1,148
$2,000
Heat:
Gas Forced Air Furnaces
Parking:
Off-Street
Administrative:
$226
$400
Trash:
$614
$614
Total Expenses:
$8,354
$8,076
Expenses per Unit:
$2,089
$2,019
Net Operating Income:
$22,369
$23,844
Current
Proforma
NOI:
$22,369
$23,844
Projected Debt Service:
($15,072)
($15,072)
Before Tax Cash Flow:
$7,297
$8,772
Cash-on-Cash Return:
10.76%
12.94%
Principle Reduction (yr. 1):
$4,987
$4,987
Total Return:
18.1%
20.3%
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.
