TITLE:
SALE/LEASEBACK/BUYBACK 5 RESIDENTIAL UNITS IN MANITOU SPRINGS
CONTROL:
Owner
VALUE:
$900,000
LOAN:
$0
EQUITY:
$900,000
TYPE:
Multi-Family
HAVE:
5 units in 4 cabins at the West end of Manitou Ave in highly sought Manitou Springs. Will only sell subject to lease/re-purchase. "A" bag property for me. Property value is about $1MM.
ADDRESS:
1301 Manitou Ave, Manitou Springs, Colorado
BENEFITS TO NEW OWNER:
Absolute NNN leased property with guaranteed buyback in 2-10 years, your choice of timing. Residential depreciation, 6% NNN income, 2% annual appreciation. We can do this at any price between $750k and $900k
GROSS SCHEDULED INCOME:
$54,000 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$54,000
EXPENSES:
$0
NOI:
$54,000
DEBT SERVICE:
$0
CASH FLOW:
$54,000
CAP RATE:
6.00%
BENEFITS SOUGHT:
I am seeking to sell and leaseback 5 residential units that already have tenants. Must have an option to repurchase. I want to keep these and increase my basis to hold them for the long term.
CAN ADD:
More income property, NNN or not. Lots of land, Notes, liquor store, cash.
REMARKS:
This is part of my own estate planning. I will buy this back and keep it and depreciate it for 27 more years, collecting rent all the while. I do have underlying debt that will be paid off or moved.
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs, Colorado, 80829
