WEST 5TH APARTMENTS 5220-5236 W 5th Ave | Lakewood, CO Property Highlights: • $73,000 in Recent Capital Improvements Including New Roof, 3 New Furnaces & 6 New Hot Water Heaters • 8.24% Pro Forma CAP Rate!! • 5/9 Units Recently Turned • Individual Furnace, Hot Water Heater & Washer Hookups in Each Unit • Tenants Pay Gas & Electric • Close to Sheridan Lightrail Station • Easy Access to 6th Avenue & Sheridan Boulevard • Value-Add Opportunity Exclusively Listed By: Sale Price: $1,100,000 $1,075,000 Visit Our Website! TEAM N EW E LL Josh Newell Principal 303.962.9559 [email protected]Barton Thompson Associate Advisor 303.407.9789 [email protected]Lindsey Santaularia Senior Transaction Manager 303.962.9573 [email protected]Meaghan Jennings Transaction Manager 720.638.5400 [email protected]
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Multifamily FOR SALE › d2 › ewaKyD3FSOlpPy0... · 5220-5236 W 5th Ave | Lakewood, CO. Property Highlights: • $73,000 in Recent Capital Improvements Including New Roof, 3 New
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WEST 5TH APARTMENTS5220-5236 W 5th Ave | Lakewood, CO
Property Highlights:• $73,000 in Recent Capital Improvements
Including New Roof, 3 New Furnaces & 6 New Hot Water Heaters
• 8.24% Pro Forma CAP Rate!!• 5/9 Units Recently Turned• Individual Furnace, Hot Water Heater
& Washer Hookups in Each Unit• Tenants Pay Gas & Electric• Close to Sheridan Lightrail Station• Easy Access to 6th Avenue & Sheridan
INCOME Current ProformaGross Potential Rent $101,880 $124,200
Other IncomeMisc Income (Actual - 2017 Annualized) $390 $390Total Other Income $390 $390
Gross Potential Income $102,270 $124,590Vacancy (Estimated) 5.0% ($5,094) 5.0% ($6,210)EFFECTIVE GROSS INCOME $97,176 $118,380
EXPENSESTaxes (Actual 2016/New Assessed Value) $5,151 $6,095Insurance (Actual - 2017) $3,677 $3,677Gas & Electric (Actual - Trailing 12 Months Annualized) $275 $275Water & Sewer (Actual - Trailing 12 Months Annualized) $3,798 $3,798Trash (Actual - Trailing 12 Months Annualized/Estimated) $2,206 $1,500Maint. & Repairs (Estimated: $650/Unit/Year) $5,850 $5,850Legal & Professional (Actual - Trailing 12 Months Annualized) $270 $270Management Fee (Estimated: 7%) $6,802 $8,287TOTAL EXPENSES $28,029 $29,752Expenses per Unit $3,114 $3,306Expenses per SF $3.84 $4.08% OF EGI 28.84% 25.13%NET OPERATING INCOME $69,147 $88,628
F I N A N C I A L A N A L Y S I SCurrent Pro Forma
Net Operating Income $69,147 $88,628Projected Debt Service ($49,022) ($49,022)Before Tax Cash Flow $20,125 $39,607CAP Rate 6.43% 8.24%Cash-on-Cash Return 7.49% 14.74%Principal Reduction $13,007 $13,007Total Return $33,132 $52,613Return on Equity 12.33% 19.58%
Units: 9
Year Built: 1958
Building Type: Brick
Building Size: 7,290
Lot Size: 0.41 Acres
Zoning: Residential
Roof: Flat - Newer
HVAC: Gas Forced Air
Parking: 18 Off-Street Spaces
Price: $1,075,000
Price/Unit: $119,444
Price/SF: $147.46
P R O P O S E D F I N A N C I N G
Loan Amount: $806,250
Down Payment: $268,750
Interest: 4.50%
Amortization: 30 years
Monthly Pmt. ($4,085)
P R O P E R T Y D E S C R I P T I O N
I N V E S T M E N T S U M M A R Y
West 5th Apartments
120 Jay Street
Depew On The Hill
3355-3373 Sheridan Blvd
Sale Price: $1,075,000
5220-5236 W 5th AvenueLakewood, Colorado 80226No. of Units 9 No. of Units Unit TypeYear Built 1958 9 2 Bed 1 BathList Price $1,075,000Price/Unit $119,444Price/SF $162.88
120 Jay StreetLakewood, Colorado 80226No. of Units 7 No. of Units Unit TypeYear Built 1958 7 2 Bed 1 BathSale Price $1,070,000Price/Unit $152,857Price/SF $171.36
721 Depew StreetLakewood, Colorado 80214No. of Units 12 No. of Units Unit TypeYear Built 1971 3 1 Bed 1 BathSale Price $1,600,000 9 2 Bed 1 BathPrice/Unit $133,333Price/SF $207.47
3355-3373 Sheridan BlvdWheat Ridge, Colorado 80212No. of Units 10 No. of Units Unit TypeYear Built 1959 2 1 Bed 1 BathSale Price $1,400,000 8 2 Bed 1 BathPrice/Unit $140,000Price/SF $231.40
SUBJECT PROPERTY
CLOSE OF ESCROW 10/16/2017
CLOSE OFESCROW6/1/17
CLOSE OF ESCROW 2/8/17
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CLOSE OF ESCROW 1/31/2017
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Ames Street Apartments365 Ames StreetLakewood, Colorado 80226No. of Units 6 No. of Units Unit TypeYear Built 1962 6 2 Bed 1 BathSale Price $783,300Price/Unit $130,550Price/SF $168.45