TITLE:
321 Bennet Ave, Cripple Creek Colorado
CONTROL:
Owner
VALUE:
$350,000
LOAN:
$285,000
EQUITY:
$65,000
TYPE:
Income Comb.
HAVE:
Mixed use building retail space on lower unit and rental apartment on second floor in one of the assessor's offices built in 1896. Great location, centrally located retail and rental apartment in downtown Cripple Creek.
ADDRESS:
321 E Bennett Ave,, Cripple Creek, Colorado
BENEFITS TO NEW OWNER:
Great property located in best retail area outside of Casinios, centrally located in downtown Cripple Creek.
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GROSS SCHEDULED INCOME:
$24,600 Actual
VACANCY LOSS:
$0
GROSS EFFECTIVE INCOME:
$24,600
EXPENSES:
$6,012
NOI:
$18,588
DEBT SERVICE:
$25,009
CASH FLOW:
$-6,421
CAP RATE:
5.31%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$195,000
$1,879
11%
12/31/1969
Yes
LOAN 2
$90,000
$205
3%
12/31/1969
No
BENEFITS SOUGHT:
Is to use profits or property to obtain larger income producing property.
CAN ADD:
Notes backed by property, land, income properties.
COUNSELOR:
Michael Nicks
Allen Realty
108 Canon Ave.
Manitou Springs, Colorado, 80829
