One-of-a-kind Masterpiece

Transcription

1 One-of-a-kind Masterpiece 1315 Wood Avenue 50 Rooms 13,992 square feet 29,519 corner lot 3,300± additional square feet of garages + Carriage House Covered parking for eight cars The stunning mansion of James F Burns, is for sale for the first time since Burns mining success, as president of the Portland Gold Mining Company (which produced over three million ounces of gold in Victor), enabled him to create a one-of-a-kind masterpiece on Wood Avenue s famous Millionaires Row. Boasting no less than fifty rooms, the property was converted from a single family mansion into eight spacious apartments in the 1940s. Today, tenants enjoy apartments with enormous rooms, amazing carpentry, a fireplace with (real) Van Briggle tile and much, much more. Total square footage, including lower level is around 14,000 and the property sits on a spectacular 29,519 corner lot at Wood Ave & San Miguel St. Offered by: C. Stuart Sloat O F stuart@rampartrealty.com FOR MORE INFORMATION CALL TODAY OR VISIT US ON THE WEB AT Offered at $1,000,000 Information contained herein is taken from sources deemed reliable. Rampart Realty, Inc., makes no warranties either expressed or implied regarding the accuracy of this information and advises all interested parties to verify the information and seek reliable legal and tax counsel pursuant to the acquisition of this or any property. Price, terms

2 View of the back side of 1315 Wood Ave. One of ten French Doors Original marble sink, marble mirror frame in one of eleven bathrooms Gorgeous oak staircase

3 Financial Information Rent Roll Unit Type Level Size Rent Apartment 1 2/1 1st 1300 (est.) $1,000* Apartment 2 2/2 1st 1376 $1,000 Apartment 3 2/1 1st 1017 $750 Apartment 4 1/1 2nd 1026 $800 Apartment 5 1/1 2nd 1205 $775 Apartment 6 2/1 2nd 1573 $850 Apartment 7 1/1 3rd 1027 $700 Apartment 8 1/1 3rd 1202 $600 Apartment 9 1/1 Lower 2000± $750* Total $7,225/mo. *Projected rent. Owner lives in unit 1 currently **Owner s family lives in this unit rent projected Income/Expense Gross Income: $86,700 Less Vacancy <6%> <$5,202> Effective Gross $81,498 Tax $4,268 Insurance $3,500 (est.) Utilities $12,000 (est.)* $500/unit $4,500 Total Expenses: $24,268 Net Operating Income $57,230 (est.) *Tenants pay individual electric & gas. Owner pays common electric, heat, water, sewer, trash. Note: Income/expense data are largely projected, as owner occupies two units & two units were vacant at the time of property visit. All buyers are advised to independently analyze this and any real estate investment. C. Stuart Sloat & Rampart Realty, Inc. recommend tax and legal counsel.

4 By the turn of the 20th Century, there were more than 50 millionaires living in the Old North End of Colorado Springs.10 A number of them built large mansions in the 1200 block and the 1300 block of Wood Avenue. The area soon became known as Millionaires' Row. One of the millionaires was James Ferguson Burns, a Colorado Springs plumber who went up to Cripple Creek and developed the Portland Mine. The Portland eventually produced $60 million in gold and made Jimmie Burns one of the wealthiest and most colorful men in the city. Burns built his mansion at 1315 Wood Avenue. It was a large, rambling, wooden structure that roamed over several lots. It quickly became one of the major show places of Colorado Springs. Similar to many Cripple Creek millionaires, Jimmie Burns lavished his wealth on Colorado Springs. -Excerpt from Section 7 of THE COMPLETE HISTORY OF THE OLD NORTH END NEIGHBORHOOD IN COLORADO SPRINGS, COLORADO By Robert D. Loevy, Professor of Political Science, Colorado College Antique phones, ornate windows and a covered carport (or carriage port at the time) more of the countless details found throughout this masterpiece.

5 View of southern portion of wrap-around porch Enormous wrap-around porch on west an south sides Copper lamps adorn the entry Yard south of house Bead-board on walls and ceilings in carriage house Carriage House South Room for five vehicles + additional tenants storage on upper level For more information, call Stuart Sloat at (719) or by at apartments1031@gmail.com