TITLE:
THREE DUPLEXES IN COLORADO SPRINGS
CONTROL:
Owner
VALUE:
$937,000
LOAN:
$631,000
EQUITY:
$306,000
TYPE:
Multi-Family
HAVE:
Three fully leased duplexes on the south side of Colorado Springs, near Ft. Carson. Management in place.
ADDRESS:
1135, 1137, 1138 Valley Manor Ct, Colorado Springs, Colorado
BENEFITS TO NEW OWNER:
Income, appreciation, residential depreciation, fully leased with management in place, can be NNN, very strong market. Discount sale/leaseback possible at lower price. Can be delivered f/c or with any amount of debt.
GROSS SCHEDULED INCOME:
$77,620 Actual
VACANCY LOSS:
$995
GROSS EFFECTIVE INCOME:
$76,625
EXPENSES:
$13,900
NOI:
$62,725
DEBT SERVICE:
$75,720
CASH FLOW:
$-12,995
CAP RATE:
6.69%
ENCUMBRANCE
BALANCE
PAYMENT
RATE
DUE
ASSUMABLE
LOAN 1
$336,000
$3,360
12%
12/31/1969
Yes
LOAN 2
$295,000
$2,950
12%
12/31/1969
Yes
BENEFITS SOUGHT:
To activate this equity: to sell or trade. Sale/leaseback/buyback would be the first choice: 6% NNN with 2% annual appreciation for 2-10 years.
CAN ADD:
Another duplex nearby, mixed use gaming property in Cripple Creek, houses in Illinois, land coast to coast, Notes, more sale/leaseback deals
REMARKS:
I am the owner of these duplexes and happy with them, but I would like more return on my equity. Prefer sale to refinance if I want the cash out--which is why a NNN lease/option is the first choice. I believe in the market.
COUNSELOR:
Blake Allen
Allen Realty
108 Canon Ave
Manitou Springs, Colorado, 80829
