FOR SALE Well Maintained Duplex For Sale 772-776 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
772-776 S. KEARNEY STREET OFFERING SUMMARY Sale Price: Price PSF: Number Of Units: Unit 772: Unit 776: Lot Size: Building Size: Year Built: Zoning: $665,000 $207 SF Two (2) 1,609 SF 1,609 SF 6,650 SF 3,218 SF 1969 S-TH-2.5 PROPERTY OVERVIEW Unique Properties is pleased to have the opportunity to market the property located at 772-776 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 and each unit features three (3) beds and two (2) baths, each unit is 1,609 SF with washer/dryer in each unit. The two units share a large over sized fenced yard. Unit 772, lease expires 12/2018, Unit 776 lease expires 5/ 2019 leaving the investor opportunity to raise rents. PROPERTY HIGHLIGHTS Proforma NOI - $41,746 Bedrooms are spacious Units Share Large Over Sized Backyard 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 3 br / 2 ba 1,609 $1,500 $2,000 $0.93 2 3 br / 2 ba 1,609 $1,500 $2,000 $0.93 Averages 1,609 $1,500 $2,000 $0.93 2 Totals 3,218 $36,000 $48,000 INCOME Rent Income Est. Pro. Less: Vacancy & Credit Loss 0.0% 0.0% ($0) Plus: Other Income Effective Gross Income $48,000 EXPENSES Cleaning and maintenance $2,700 Insurance $1,079 Taxes $1,882 Utilites $443 Other $149 Total Expenses $6,254 Per Unit $3,127 Per Square Foot $1.94 Net Operating Income $41,746 Less: Annual Debt Service ($31,220) Cash Flow $10,526 Cash-on-Cash 6.33 % Principal Reduction $7,040 Total Return 7.3% Capitalization Rate 6.27% INVESTMENT List Price: $665,000 Down Payment: $166,250 Price/Unit: $332,500 Price/Sq. Ft. $206.65 Current Cap Rate: 4.4% Proforma Cap Rate: 6.27% Current GRM: 18.70 Proforma GRM: 13.85 PROPERTY Number of Units: 2 Year Constructed: 1969 Electric: Xcel Parking: Street Parking Available Air Conditioning: Yes Heating: Hot Air Exterior Construction: Brick Lot Size: 6,650 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