sale brochure (l - multi-family)
TRANSCRIPT
DIRECTOR
PHIL DANKNER
UNIQUE PROPERTIES400 S. BROADWAY
DENVER, CO 80209(p) 303.321.5888(f ) 303.321.5889
WWW.UNIQUEPROP.COM
CONTACT:
FOR SALEThe James
3390 S Pearl St. | Englewood
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
• Fully Furnished Short Term Rental Units
• Great Location - Neighbors Swedish Medical Center & Craig
Hospital
• Let Airbnb & CHBO advertise, perform credit checks and
collect rent
PROPERTY OVERVIEW
Greystone Unique Apartment Group is pleased to present the opportunity to acquire The James, a turnkey Airbnb property. The James was fully renovated in the winter of 2017 and features six fully furnished short term rental units. Each unit has a unique theme and is decorated accordingly. All units are currently rented with a one month minimum and there is the opportunity to capitalize on shorter term rentals. Advertised rates are $2,300 a month, well above market rates. A new investor can continue operating The James as is and profit with minimal effort from the beginning.
OFFERING SUMMARY
Sale Price: $1,300,000
Number Of Units: 6
Cap Rate: 6.31%
NOI: $81,972
Lot Size: 0.14 Acres
Building Size: 4,000 SF
UNIT THEMES
• The World is My Oyster
• Sky Ranch
• I've Got the Fever
• McQueen Mancave
• Las Bellas Artes
• Californication
PROPERTY AMENITIES
• Dedicated parking - 5 in the rear and 2 street permits
• Each floor has a washer and dryer
• Keyless entry to all units
• Outdoor fenced patio area with BBQ's
• Pet relief area
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.
ADDITIONAL PROPERTY HIGHLIGHTS
List Price: $1,300,000Down Payment: $325,000Price/Unit: $216,666Price/Sq. Ft. $325.00Current Cap Rate: 6.31%Proforma Cap Rate: 7.71%Current GRM: 10.8Proforma GRM: 9.8
Number of Units: 6
Year Constructed: 1952
Type of Building: Multifamily
Parking: 5 Spaces in Rear &2 Street Permits
Air Conditioning: N/A
Heating: Furnaces - Forced Air
Roof: Pitched
Exterior Construction: Brick
Lot Size: 0.14 AC
Metering:
Electric: Separate
Gas: Separate
Water: Master
Proposed:Loan Amount: $975,000
Interest Rate: 4.25%
Amortization (years): 30
Annual Debt Service: $57,557
INVESTMENT
PROPERTY
LOAN INFORMATION
UNITS TYPEAVERAGE
UNIT SQ. FT.AVERAGE
CURRENT RENT MARKET RENT CURRENT RENT/SF
6 1 br / 1 ba 660 $1,671 $1,850 $2.53
Averages 660 $1,671 $1,850 $2.53
6 Totals 3,960 $10,026 $11,100
INCOME CURRENT PROFORMA
Rent Income Est. Pro. $120,824 $133,200Less: Vacancy & Credit Loss 10.00% 5.00% ($12,028) ($6,660)Plus: Other Income $2,625 $2,625
Effective Gross Income $110,881 $129,165
EXPENSES CURRENT PROFORMA
Property Taxes $2,345 $2,345Insurance $4,000 $4,000Management $7,100 $7,100Utilities $8,832 $8,832Repairs & Maintenance $6,632 $6,632
Total Expenses $28,909 $28,909
Per Unit $4,818 $4,818Per Square Foot $7.23 $7.23
Net Operating Income $81,972 $100,256Less: Annual Debt Service ($57,557) ($57,557)
Cash Flow $24,415 $42,699
Cash-on-Cash 7.51 % 13.14 %
Principal Reduction $16,437 $16,437Total Return 12.57% 18.2%
Capitalization Rate 6.31% 7.71%
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
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 PICTURES