Generational Multi-Family Asset

Transcription

1 Exclusively Listed by Kolding Commercial Brokerage & Investments, Inc. Generational Multi-Family Asset 5907 S Gallup St. Excellent Suburban Infill location Multiple desirable property characteristics and unit amenities Great Neighborhood Amenities Excellent construction and floor plans Short walk to Bus stops & convenience retail Below market rents Access Drone Video Here Contact Mat Kolding

2 East Side along Gallup St. Private Balconies & Patios

3 Unit amenities include: microwaves, dishwashers and full size laundry closets

4 Littleton, CO Each unit is equipped with a gas burning fireplace Laundry rooms are conveniently located adjacent kitchens in 2 BR units

5 Littleton, CO Offering Summary Units 30 Unit Mix and Sizes 15 (2 Bedroom + 2 Bath) 975 Square feet 15 (1 Bedroom + 1 Bath) 750 Square feet Square Footage 25,560 Site Area.828 Acres Year Built 1996 Zoning R-5, City of Littleton Parking 42 Asphalt Paved Spaces Property & Neighboring Amenities Attractive 3 story walk up construction Private balconies and patios with storage lockers for each unit New roof and exterior paint completed in 2015 Full size laundry, microwaves, dishwashers, & gas fire places. Individual 40 gallon residential hot water tanks in each unit Units are Individually metered for gas and electric One block from Bemis Library and Gallup Park & Gardens 4 blocks from Sterne Park Short walk to bus stops along W. Littleton Blvd. Immediate access to walking trails around Ketring Park Peaceful setting overlooking Ketring Park Demographic Overview Miles Households Population Median Income 1 Mile 6,877 15,429 $44,475 3 Miles 37,894 89,832 $60,737 5 Miles 265, ,241 $68,184

6 Littleton, CO Offering Summary represents the opportunity to acquire a truly exceptional asset that is atypical from the majority of metro Denver s multi-family properties. The are above average rental units nestled in a quiet residential neighborhood. This asset provides the comforts most typically found in the larger institutional grade assets that are commonly missing at the smaller apartment properties throughout the metro area, such as gas forced air heating and central air conditioning, gas fireplaces, dishwashers, microwaves, full size laundry equipment, nicely sized closet space, private balconies/patios and secure storage directly outside each unit. Still owned by the original developer/builder since construction in 1996, the property stands out in the Littleton and South Denver metro market area. The property is situated about 4 blocks South of Littleton Boulevard and across the street, West, of Ketring Park and the Littleton Museum. The immediate neighborhood consists of a number of other apartment rental communities as well as being surrounded by single family residential homes to the South and East. Retail and convenience services and access to public transportation are located along Littleton Boulevard to the North and the charms of downtown Littleton are just 1 mile to the West. This asset represents a great opportunity for a discerning Buyer that values both quality of construction and location and understands the continued strength of the Littleton rental market for the coming years. These are above average units that will command above average rents for a new owner. While the information contained in this brochure has been collected from sources we believe reliable, Kolding Commercial Brokerage & Investments makes no warranty or representation concerning the content of this brochure. It is the responsibility of any prospective buyer to confirm the accuracy and completeness of the information contained herein. Financial returns are for examples only, individual returns will vary.

7 Littleton, CO Pro-forma Income Expense Analysis Total Proforma Rental Income $485,100 Vacancy/Credit Loss (4%) <$19,404> Effective Rental Income $465,696 Operating Expenses Property Taxes <$10,230> Insurance <$12,706> Utilities/Trash <$13,670> Maintenance/repairs/supplies <$45,000> Landscaping <$6,075> Management <$24,000> Total Expenses $4.37/SF/ $3,723/Unit <$111,681> Projected Net Income $354,015 Proforma Rent Roll Summary # of Units Type SF Rate/SF Monthly Rent 15 2 Bedroom / 2 Bath 975 $1.50 $1, Bedroom / 1 Bath 750 $1.65 $1,235

8 5907 S. Gallup St.

9 Location Map Ketring Park Apartments

10 Market Rent Comparable Properties Property Size Weston Ridge 5967 S. Gallup St Et al. 194 Units SaraMax 1111 W. Ida Ave 22 Units Regency Apartments 5758 S. Gallup St. 23 Units Year Built Unit Type Unit Size Market Rent Rent Per SF 1 Bed / 1 Bath 2 Bed / 1 Bath 650 SF SF $995 $1,175-$1,275 $1.53 $1.34-$ Bed / 1 Bath 725 SF $1,195 $ Bed / 1 Bath 900 SF $1,175 $ The New Yorker 5655 S. Bannock St. 25 Units Bed / 1 Bath 765 SF $1,250 $ SilverCliff Apartments 5109 S. Delaware St. 312 Units Bed / 1 Bath 2 Bed / 2 Bath 727 SF 920 SF $1,175-$1,415 $1,295-$1,855 $1.62-$1.95 $1.41-$ Tiburon Apartments 700 W. Belleview Ave 83 Units The Station 2100 W. Berry St. 97 Units Bed / 1 Bath 719 SF $1,000 $ Bed / 1 Bath 740 SF $1,125 $ Sycamore Hills 5955 S. Sycamore St. 50 Units 1984/ Bed / 1 Bath 2 Bed / 2 Bath 675 SF 900 SF $900 $1,200 $1.33 $ Bed Range/ Average SF 702 SF $900-$1,415 $1,100 $1.31-$1.95 $ Bed Range/ Average SF 859 SF $1,175-$1,855 $1,300 $1.31-$2.05 $1.53

11 Market Rent Comparable Properties

12 Market Rent Comparable Properties Map

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