TITLE:
Duplex w/Additional Tiny House on back of lot (3 units total)
CONTROL:
Owner
VALUE:
$259,900
LOAN:
$112,000
EQUITY:
$147,900
TYPE:
Multi-Family
HAVE:
Remodeled 3plex should be complete in three weeks. New windows, baths, furnace, paint, flooring, etc... However, this property is still older and not a class "A" rental. But, the rents and price reflect its age.
ADDRESS:
1103 Raton Ave, La Junta, Colorado
BENEFITS TO NEW OWNER:
Cash flow in a market with virtually no rentals. Outsiders are concerned that the town is only 7000 people, but there is a high demand for housing in the blue-collar community
GROSS SCHEDULED INCOME:
$38,220 Projected
VACANCY LOSS:
$2,000
GROSS EFFECTIVE INCOME:
$36,220
EXPENSES:
$9,600
NOI:
$26,620
DEBT SERVICE:
$995
CASH FLOW:
$25,625
CAP RATE:
10.24%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$199,000
$995
6%
04/01/2025
Yes
BENEFITS SOUGHT:
Mostly $60k+ down or all cash, but seller would look at other deals. This could get used as a down payment on something larger.
CAN ADD:
15+ properties - see other listings in book, but many other items like farms, a gold mine, and other commercial properties.
REMARKS:
Still needed to be done is a little more stucco patch, exterior paint, landscaping, and some electrical. All of this is included in the price and would be done before closing.
COUNSELOR:
Lance Dehning
Broker's Guild
931 Lilac St.
Longmont, Colorado, 80501
Phone: 720-327-8050
Email lancedehning@gmail.com
