FOR SALE Well Maintained Duplex For Sale 764-768 S. Kearney Street Denver, CO 80224 PROPERTY BROCHURE CONTACT: SAM LEGER 303.512.1159 sleger@uniqueprop.com TIM FINHOLM 303.512.1161 tfinholm@uniqueprop.com MICHAEL DESANTIS BROKER ASSOCIATE 303.512.1194 mdesantis@uniqueprop.com UNIQUE PROPERTIES 400 S. BROADWAY DENVER, CO 80209 (p) 303.321.5888 (f) 303.321.5889 WWW.UNIQUEPROP.COM
764-768 S. KEARNEY STREET OFFERING SUMMARY Sale Price: Price PSF: Building Size: Number Of Units: Unit 764 Unit 768 $665,000 $216 SF 3,076 SF Two (2) 1,538 SF 1,538 SF PROPERTY OVERVIEW Unique Properties is pleased to have the opportunity to market the property located at 764-768 S. Kearney Street, Denver, CO. It is conveniently located near several food and entertainment districts, such as City Set in Glendale, and to several parks such as Garland Park, City of Potenza Park, and 4 Mile Historic Park. The property is also in close proximity to the planned development called Glendale 180, bringing premier entertainment, retailers and high concept dining to the area. The property sits on a 6,650 square foot lot. Unit 764 features four (4) beds and two (2) baths, Unit 768 features three (3) bedrooms and (2) bathrooms. Each Unit is 1,538 SF with washer/ dryer in the units. Each Unit has their own private fenced yard. Unit 764 lease expires 5/2019, Unit 768 lease expires 12/2018 leaving the investor opportunity to raise rents. Lot Size: Year Built: Zoning: 6,250 SF 1969 S-TH-2.5 PROPERTY HIGHLIGHTS Proforma NOI - $46,078 Each Unit has Private Yard with Fence Large living area with space for kitchen table Seller is also offering two other duplex's to be sold together (708,710,764,768,772,776)
UNIT MIX & RENT SCHEDULE UNITS TYPE UNIT SQ. FT. CURRENT RENT MARKET RENT CURRENT RENT/ SF 1 4 br / 2 ba 1,538 $1,435 $2,300 $0.93 2 3 br / 2 ba 1,538 $1,400 $2,000 $0.91 Averages 1,538 $2,835 $2,150 $0.92 2 Totals 3,076 $34,020 $51,600 INCOME Rent Income Est. Pro. Less: Vacancy & Credit Loss 0.0% 0.0% ($51,600) Plus: Other Income Effective Gross Income $51,600 EXPENSES Cleaning and Maintenance $1,130 Insurance $1,079 Repairs $468 Taxes $2,325 Utilites $369 Other $149 Total Expenses $5,522 Per Unit $2,761 Per Square Foot $1.80 Net Operating Income $46,078 Less: Annual Debt Service ($31,220) Cash Flow $14,858 Cash-on-Cash 8.1 % Principal Reduction $7,040 Total Return 7.8% Capitalization Rate 6.92% INVESTMENT List Price: $665,000 Down Payment: $166,250 Price/Unit: $332,500 Price/Sq. Ft. $216.19 Current Cap Rate: 4.2% Proforma Cap Rate: 6.92% Current GRM: 19.54 Proforma GRM: 12.88 PROPERTY Number of Units: 2 Year Constructed: 1969 Electric: Xcel Parking: Street Parking Air Conditioning: Yes Heating: Yes Exterior Construction: Brick Lot Size: 6,250 SF Metering: Separately Metered Gas: Xcel Water: Denver Water LOAN INFORMATION Proposed: Loan Amount: $498,750 Interest Rate: 4.75% Amortization (years): 30 Annual Debt Service: $31,220.64
INVESTMENT OPPORTUNITY
CONTACT: SAM LEGER 303.512.1159 sleger@uniqueprop.com TIM FINHOLM 303.512.1161 tfinholm@uniqueprop.com MICHAEL DESANTIS BROKER ASSOCIATE 303.512.1194 mdesantis@uniqueprop.com The information contained herein was obtained from sources believed reliable; however, Unique Properties makes no guarantees, warranties or representations as to the completeness or accuracy thereof. The presentation on this property is submitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or WWW.UNIQUEPROP.COM