TITLE:
El Colorado Lodge
CONTROL:
Exclusive
VALUE:
$3,000,000
LOAN:
$1,017,000
EQUITY:
$1,983,000
TYPE:
Hotel/Motel
HAVE:
26 Unit Motel in Manitou Springs
extra income generated from leasing the parking space at $10,000 monthly
ADDRESS:
23 Manitou Ave, Manitou Springs, Colorado
BENEFITS TO NEW OWNER:
Cash flowing asset in a hot market. Additional $10,000/mo generated from parking being leased to neighboring business
OTHER FILES:
GROSS SCHEDULED INCOME:
$364,309 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$364,309
EXPENSES:
$170,079
NOI:
$194,230
DEBT SERVICE:
$102,260
CASH FLOW:
$91,970
CAP RATE:
6.47%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$58,000
$300
4%
12/31/1969
No
BENEFITS SOUGHT:
My client would purchase outdoor storage in the front range of Colorado or a passive investments in the West Denver area. Really likes Lakewood.
CAN ADD:
Coyote West Motel
Woodland Park Motel
REMARKS:
Income on package are from 2023 numbers. I have the 2024 information as well. In 2024, ownership invested $250,000 in improvements in electrical and landscaping.
COUNSELOR:
Kayla Mahoney
Engel Voelkers
1041 S Gaylord St,
Denver, Colorado, 80209
