Post on 29-Sep-2020
Lakewood 8-Unit 10555 W. 8th AvenueLakewood, CO 80215
$1,350,000
• Owners’ Pride Obvious in Upkeep of Property
• On-Site Coin Operated Laundry for Tenants
• Spacious 1 Bedroom Apartments (730 SQFT)
• Updated Kitchens and Bathrooms
• New Boiler • Plenty of Off Street
Parking
Investment Highlights:
Jim CaseyJim@CalibrateRE.com
720.432.4671
Calibrate Real Estate
Financial Overview:
10555 W. 8th Avenue
Price: $1,350,000 # Units Unit Type Avg SqFt Avg Current Rent Avg Proforma RentPrice/Unit: $168,750 8 1Br/1Ba 730 $1,036 $1,100Price/SqFt: $230.93
INCOME Current ProformaLoan Amount: $877,500 Gross Annual Rent: $99,429 $105,600Down Payment: $472,500 Vacancy Allowance: ($5,061) ($5,380)Interest Rate: 4.00% Net Rental Income: $94,367 $100,220Amortization (yrs): 30 Other Income: $1,800 $2,000Monthly Payment: $4,189 Effective Gross Income: $96,167 $102,220
ESTIMATED EXPENSES Current ProformaUnits: 8 Property Taxes: $4,695 $4,695Year Built: 1961 Insurance: $3,906 $3,906Building Size (SqFt): 5,846 Property Management: $8,000 $8,000Lot Size (SqFt): 18,000 Repairs & Maintenance: $8,624 $8,624
Utilities $6,493 $6,493Admin/Misc.: $450 $450Total Expenses: $32,168 $32,168Expense/Unit: $4,021 $4,021
Net Operating Income (NOI) $63,999 $70,052
Current ProformaNOI: $63,999 $70,052Projected Debt Service: ($50,272) ($50,272)Before Tax Cash Flow: $13,727 $19,780CAP Rate: 4.74% 5.19%Cash-on-Cash Return: 2.91% 4.19%Principal Reduction (yr. 1): $15,453 $15,453Total Return: 6.18% 7.46%
FINANCIAL ANALYSIS
INVESTMENT SUMMARY UNIT MIX AND AVERAGE RENT SCHEDULE
FINANCINGOPERATING DATA
PROPERTY DESCRIPTION
Property Highlights
1137 Columbine Street
1137 Columbine St. • Less Than a Mile to Oak Street Station Light Rail
• Adjacent to Sunset Park• Easy Access to 6th
Avenue, Colfax, and I-70
• Shared On-Site Laundry
• Well Maintained Landscaping and Storage Shed
• 9 Off Street Parking Spaces for Tenants
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Property Photos
10555 W. 8th Avenue
Calibrate Real Estate
Property Photos
10555 W. 8th Avenue
Calibrate Real Estate
Property Photos
10555 W. 8th Avenue