PROPERTY HIGHLIGHTS• Attractive Cheesman Park Location• Individual Entrances• 5 - 2 Bedrooms, 1 - 1 Bedroom, and 1 Studio• Beautifully Renovated 2 BR Garden Unit• Off-Street Parking - 5 Spaces
Cheesman Flats1057 Marion Street Denver, CO 80218
EXCLUSIVELY LISTED BY:
Kyle Malnatic: 303.358.4250
Greg Johnsonc: 303.810.1328
A Division of Madison & Company Properties
FOR SALE $1,050,0007 Units
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MADISON COMMERCIAL
Price: $1,050,000 # Units Unity Type Avg SqFt Avg Current Rent Avg Proforma Rent
Price/Unit: $150,000 1 Studio 400 $750 $750
Price/SqFt: $121.65 1 One Bedroom, One Bath 515 $800 $925
5 Two Bedroom, One Bath 950 $1,100-$1,300 $1,250-$1,300
Loan Amount: $787,500 INCOME Current Proforma
Down Payment: $262,500 Gross Annual Rent: $90,300 $95,700
Interest Rate: 4.10% Vacancy Allowance: ($3,612) ($3,828)
Amortization (yrs): 30 Net Rental Income: $86,688 $91,872
Monthly Payment: $3,805 Other Income: $1,636 $7,636
Effective Gross Income: $88,324 $99,508
Units: 7 ESTIMATED EXPENSES Current Proforma
Year Built: 1957 Property Taxes: $3,708 $4,667
Building Size (SqFt): 8,631 Insurance: $2,613 $2,613
Lot Size (SqFt): 6,250 Property Management: $4,800 $4,800
Roof: Pitched with Shingles Repairs & Maintenance: $4,982 $4,982
Heat: Hot Water Boiler Utilities $4,688 $4,688
Parking Spaces 5 Admin/Misc.: $1,288 $1,288
Electric: Individually Metered Wifi & Phone: $0 $0
Total Expenses: $22,078 $23,037
Expense/Unit: $3,154 $3,291
Net Operating Income (NOI) $66,246 $76,471
Current Proforma
NOI: $66,246 $76,471
Projected Debt Service: ($45,662) ($45,662)
Before Tax Cash Flow: $20,583 $30,808
CAP Rate: 6.3% 7.3%
Cash-on-Cash Return: 7.8% 11.7%
Principle Reduction (yr. 1): $13,629 $13,629
Total Return: 13.0% 16.9%
FINANCIAL ANALYSIS
INVESTMENT SUMMARY UNIT MIX AND AVERAGE RENT SCHEDULE
FINANCING OPERATING DATA
PROPERTY DESCRIPTION
Please note, all information furnished in this presentation regarding this property for sale has been secured from sources we believe to be reliable. However, we accept no responsibility for its correctness and encourage the verification of all numbers prior to making any financial decisions. We owe duties to the Seller, which include utmost good faith. We negotiate on behalf of and act as advocate for the Seller. Please do not tell us any information that you do not want with the Seller. You are not legally responsible for our actions. Although we do not represent you, we will disclose to you all adverse material facts about the property actually known to us. We will assist you without regard to race, creed, sex, religion, national origin, familial status or handicap.
EXCLUSIVELY LISTED BY:Greg Johnson & Kyle Malnati1221 S. Clarkson St, Suite 300
Denver, CO 80210Office: 303.771.3850
MADISON COMMERCIALso
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MADISON COMMERCIALEXCLUSIVELY LISTED BY:
Greg Johnson & Kyle Malnati1221 S. Clarkson St, Suite 300
Denver, CO 80210Office: 303.771.3850
Please note, all information furnished in this presentation regarding this property for sale has been secured from sources we believe to be reliable. However, we accept no responsibility for its correctness and encourage the verification of all numbers prior to making any financial decisions. We owe duties to the Seller, which include utmost good faith. We negotiate on behalf of and act as advocate for the Seller. Please do not tell us any information that you do not want with the Seller. You are not legally responsible for our actions. Although we do not represent you, we will disclose to you all adverse material facts about the property actually known to us. We will assist you without regard to race, creed, sex, religion, national origin, familial status or handicap.
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dif
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MADISON COMMERCIALEXCLUSIVELY LISTED BY:
Greg Johnson & Kyle Malnati1221 S. Clarkson St, Suite 300
Denver, CO 80210Office: 303.771.3850
Please note, all information furnished in this presentation regarding this property for sale has been secured from sources we believe to be reliable. However, we accept no responsibility for its correctness and encourage the verification of all numbers prior to making any financial decisions. We owe duties to the Seller, which include utmost good faith. We negotiate on behalf of and act as advocate for the Seller. Please do not tell us any information that you do not want with the Seller. You are not legally responsible for our actions. Although we do not represent you, we will disclose to you all adverse material facts about the property actually known to us. We will assist you without regard to race, creed, sex, religion, national origin, familial status or handicap.
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