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Joseph Newman

joseph@thecoloradobroker.com +1(720) 841-7010

$995,000

Est. payment - /mo

6 Baths

8,459 SqFt

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UPDATED:

Key Details

Property Type Other Types

Sub Type Quadruplex

Listing Status Active

Purchase Type For Sale

Square Footage 8,459 sqft

Price per Sqft $117

Subdivision Yacovetta Sub

MLS Listing ID 1519634

HOA Y/N No

Year Built 1944

Lot Size 0.480 Acres

Acres 0.48

Property Sub-Type Quadruplex

Property Description

Great cash flow property with excellent up side income potential. Rare six unit building that backs to a nice park in a predominately single family home neighborhood. Five of the units have enclosed private back yards and there are several garage/storage units on the property. Four of the six units have been rented by the same tenant since before the building was last sold approximately sixteen years ago, and the other two units have each been rented by the same tenants for approximately ten years, providing an extremely consistent revenue base. Property consists of a stand alone 1 bedroom alley house, 2 two bedroom units, and 3 four bedroom (some bedrooms may be non-conforming) multi bath units. Based on the current rents and 2025 actual insurance, RE taxes, and utility costs, the units are projected to currently produce $91,100 in net cash flow before maintenance/debt costs. Current owner believes that there is a significant opportunity to increase the current rent rates in the units' current condition, and a much more meaningful opportunity to increase the overall rents and cash flow by updating each unit. Three of the units have separate entrances to the basement with potential to make separate additional apartments subject to zoning laws which Seller has not explored. Each of the units would benefit by updating, some significantly. The property is being sold as is in its current condition, although as noted below, Seller can provide financing to include financing updating costs. Seller is willing to finance 80% of the purchase price and 70% of approved updating costs for a qualified and approved buyer for up to nine months to allow a new buyer to potentially update units and improve the operating income before obtaining permanent financing. Asking price is for the property as is without any additional improvements or concessions paid for by the Seller. Please allow 7 days for acceptance.

Location

State CO

County Arapahoe

Direction West

Rooms

Basement Crawl Space, Finished, Full

Interior

Heating Forced Air

Cooling None

Exterior

Garage Spaces 2.0

Fence Partial

Waterfront Description Public

Roof Type Composition

Private Pool No

Building

Faces West

Story Two

Sewer Public Sewer

Water Public

Schools

School District Elementary: Adams-Arapahoe 28J, Middle/Junior: Adams-Arapahoe 28J, High: Adams-Arapahoe 28J

Others

Senior Community No

Tax ID 031108071

Special Listing Condition None Known

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Listed byColorado Realty Resource

Nearby School & Business

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Joseph Newman

+1(720) 841-7010

The Colorado Broker License ID: 069025

728 Emporia ST Aurora, CO 80010

Joseph Newman

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Nearby School & Business

Get More Information