PHIL DANKNERDIRECTOR
303.645.4796
UNIQUE PROPERTIES400 S. BROADWAY
DENVER, CO 80209(p) 303.321.5888(f ) 303.321.5889
WWW.UNIQUEPROP.COM
CONTACT:
1302 S. COFFMAN STREET | LONGMONT, CO
INVESTMENT SALE OPPORTUNITY | MULTIFAMILY
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 issubmitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
UNIQUE PROPERTIES400 S. BROADWAY
DENVER, CO 80209(p) 303.321.5888(f ) 303.321.5889
WWW.UNIQUEPROP.COM
PROPERTY HIGHLIGHTS
• Turnkey Completely Renovated 4-Plex
• All Two Bedroom/ One Bathroom Units
• Updated Landscaping
• Granite Countertops, Stainless Steel Appliances, & Washer/
Dryer in Each Unit
• Opportunity to Continue Raising Rents
PROPERTY OVERVIEW
1302 South Coffman Street offers an investor the opportunity to acquire a turnkey, well-located property in close proximity to the heart of Downtown Longmont. This four unit property consists of four (4) two-bedroom/one-bathroom units. 1302 South Coffman Street has recently been extensively renovated; units now feature granite countertops, stainless steel appliances, modern bathrooms, laminate flooring and in-unit washer/dryers.
OFFERING SUMMARY
Sale Price: $750,000
Number Of Units: 4
Cap Rate: 5.61%
NOI: $42,104
Lot Size: 12,937 SF
Building Size: 3,232 SF
Year Built: 1969
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 issubmitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
INTERIOR PHOTOS
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 issubmitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
PROPERTY LOCATION
List Price: $750,000Down Payment: $187,500Price/Unit: $187,500Price/Sq. Ft. $232.05Current Cap Rate: 5.61%Proforma Cap Rate: 6.16%Current GRM: 13.4Proforma GRM: 12.5
Number of Units: 4
Year Constructed/Renovated: 1969
Type of Building: Multifamily
Parking: Surface
Air Conditioning: Wall Units
Heating: Boiler
Roof: Pitched
Exterior Construction: Brick
Lot Size: 12,937 SF
Metering:
Electric: Separate
Gas: Master
Water: Master
Proposed:Loan Amount: $562,500
Interest Rate: 4.25%
Amortization (years): 30
Annual Debt Service: $32,099
INVESTMENT
PROPERTY
LOAN INFORMATION
UNITS TYPEAVERAGE
UNIT SQ. FT.AVERAGE
CURRENT RENT MARKET RENT CURRENT RENT/SF
4 2 br / 1 ba 750 $1,169 $1,250 $1.56
Averages 750 $1,169 $1,250 $1.56
4 Totals 3,000 $4,676 $5,000
INCOME CURRENT PROFORMA
Rent Income Est. Pro. $56,100 $60,000Less: Vacancy & Credit Loss 5.00% 5.00% ($2,805) ($3,000)Plus: Other Income $3,403 $3,403
Effective Gross Income $56,698 $60,403
EXPENSES CURRENT PROFORMA
Property Taxes $2,418 $2,418Insurance $2,000 $2,000Management $4,655 $4,250Utilities $2,935 $2,935Repairs & Maintenance $2,586 $2,586
Total Expenses $14,594 $14,189
Per Unit $3,648 $3,547Per Square Foot $4.52 $4.39
Net Operating Income $42,104 $46,214Less: Annual Debt Service ($33,206) ($33,206)
Cash Flow $8,898 $13,008
Cash-on-Cash 4.75 % 6.94 %
Principal Reduction $9,483 $9,483Total Return 9.8% 12.0%
Capitalization Rate 5.61% 6.16%
UNIT MIX & RENT SCHEDULE
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 issubmitted subject to errors, omission, changes of price, or conditions, prior to sale or lease, or withdrawal without notice.
MULTIFAMILY FINANCIALS
