2800 Monroe 4-Plex N. MONROE ST. Denver, CO OFFERING SUMMARY PROPERTY OVERVIEW PROPERTY HIGHLIGHTS

Size: px

Start display at page:

Download "2800 Monroe 4-Plex N. MONROE ST. Denver, CO OFFERING SUMMARY PROPERTY OVERVIEW PROPERTY HIGHLIGHTS"

Virgil Allen
5 years ago
Views:

1 OFFERING SUMMARY Sale Price: $950,000 Number Of Units: 4 Cap Rate: 6.63% Lot Size: 0.3 Acres Year Built: 1961 Building Size: 5,169 SF Zoning: E-TU-C Market: Denver Submarket: City Park Price / SF: $ PROPERTY OVERVIEW This unique 4-Plex unit is located adjacent to City Park Golf Course and easy access to commuting routes for the busy professional. Separate and private entrances for each unit, adding the appeal of Townhouse living. Market rents are higher than current rates. Cap rate of 7.5% on pro-forma rents. Scenic view of Downtown Denver. City Park has been labeled as one of the best parks in Denver, offering tennis, baseball, football, and soccer fields. PROPERTY HIGHLIGHTS 6.63% CAP Rate (pro-forma) Great Value Add Opportunity! Below Market Rents - Low Vacancy / High Demand Town home Style Units Separate and private entrances for each unit Scenic view of Downtown, easy access to commercial and cultural venues Private backyard, commonly shared basement/ Private Storage for each unit. 2 Car garage and 3 space carport Zoning upside E-TU-C City Park offers endless exercise and social events from the busy professional, to the family, to the aging community

Property Name: Property Address: Property Type: 2800 Monroe 4-Plex 2800 N. MONROE ST., Denver, CO 80205 Multifamily APN: 02254-29-007-000 Lot Size: Building Size: 0.

2 Property Name: Property Address: Property Type: 2800 Monroe 4-Plex 2800 N. MONROE ST., Denver, CO Multifamily APN: Lot Size: Building Size: 0.3 AC 5,169 SF Gross Leasable Area: 5,100 SF Zoning: Rail Access: E-TU-C N/A Parking Spaces: 5 Cross Streets: E 28th Ave & N. Monroe St. Year Built: 1961 Number of Stories: 1 Number of Units: 4 HVAC: PROPERTY OVERVIEW 5BD Unit has A/C This unique 4-Plex unit is located adjacent to City Park Golf Course and easy access to commuting routes for the busy professional. Separate and private entrances for each unit, adding the appeal of Townhouse living. Market rents are higher than current rates. Cap rate of 7.5% on pro-forma rents. Scenic view of Downtown Denver. City Park has been labeled as one of the best parks in Denver, offering tennis, baseball, football, and soccer fields. LOCATION OVERVIEW Well sized 4-Plex (5,169 SF total, includes basement space) located on the corner of Monroe St. and E. 28th. Close to commercial access and located conveniently near City Park. Two blocks west of Colorado Blvd, easy commuting route for the busy professional. Transit lines are close by, along with easy access to City Park Golf course and a number of other amenities. The dining experience in the surrounding area has been written about in several newspapers and blogs as some of the best in the city! SALE HIGHLIGHTS 6.63% CAP Rate Great investor Opportunity Separate and private entrances for each unit Low vacancy / High Demand Easy access to business routes City Park Golf Course Denver Zoo Museum of Nature & Science Scenic view of Downtown Private backyard collective units More than ample, safe parking. Protected from the elements and inclement weather.

3 UNIT TYPE COUNT % TOTAL SIZE (SF) RENT RENT/SF MARKET RENT MARKET RENT/SF 2 BR 1 BA ,000 $1,000 $1.00 $1,800 $ BR 2 Ba ,100 $1,700 $0.81 $2,500 $1.19 2BD 1 BA ,000 $700 $0.70 $1,800 $1.80 2BD`1BA ,000 $400 $0.40 $1,800 $1.80 Totals/Averages 4 100% 5,100 $3,800 $0.75 $7,900 $1.55

4 INVESTMENT OVERVIEW MARKET RATE PRO-FORMA Price $950,000 Price per Unit $237,500 GRM 10.0 CAP Rate 6.6% Cash-on-Cash Return (yr 1) 8.83 % Total Return (yr 1) $29,045 Debt Coverage Ratio 1.36 OPERATING DATA MARKET RATE PRO-FORMA Gross Scheduled Income $94,800 Other Income - Total Scheduled Income $94,800 Vacancy Cost $4,740 Gross Income $90,060 Operating Expenses $27,065 Net Operating Income $62,995 Pre-Tax Cash Flow $16,785 FINANCING DATA MARKET RATE PRO-FORMA Down Payment - Conceptual $190,000 Loan Amount - Conceptual $760,000 Debt Service 5% int. 30 yr am. Conceptual $46,210 Debt Service Monthly $3,850 Principal Reduction (yr 1) $12,260

6 2800 Monroe 4-Plex 2800 Monroe 4-Plex

MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ Danny Lee Vice President Investment Advisor

MAJESTIC PALMS 1920 N 32ND ST PHOENIX, AZ 85008 Danny Lee Vice President Investment Advisor 480.425.5522 danny.lee@svn.com Property Summary OFFERING SUMMARY Sale Price: Number Of Units: Proforma Cap Rate: