multifamily for sale › d2 › ewakyd3fsolppy0... · 5220-5236 w 5th ave | lakewood, co. property...
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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
Boulevard• Value-Add Opportunity
Exclusively Listed By:Sale Price: $1,100,000 $1,075,000
Visit Our Website!
TEAM Newell
MultifamilyFOR SALE
Josh [email protected]
Barton ThompsonAssociate [email protected]
Lindsey SantaulariaSenior Transaction [email protected]
Meaghan JenningsTransaction [email protected]
5220-5236 W 5th Avenue Lakewood, CO
U N I T M I X A N D A V E R A G E R E N T S C H E D U L E
Approx Current Monthly Proforma MonthlyUNIT TYPE # Units SF Rent Income Rent Income
2 Bed 1 Bath 9 810 $943 $8,490 $1,150 $10,350Total 9 7,290 $8,490 $10,350
O P E R A T I N G D A T A
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
1
2
3
CLOSE OF ESCROW 1/31/2017
4
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
5220-5236 W 5th Ave Lakewood, CO
N
SITE5220 W 5th AveLakewood, CO 80226
For more information, please contact:
TEAM Newell www.NewellTeam.com
Pinnacle Real Estate Advisors | One Broadway #A300 Denver, CO 80203 | 303.962.9559 | www.PinnacleREA.com © 2016 Pinnacle Real Estate Advisors, LLC. All information contained herein has been obtained from sources we believe to be reliable. However, we accept no responsibility for its accuracy and encourage verification of all information prior to making financial decisions.
Josh NewellPrinciPal
BartoN thompsoNassociate advisor
meaghaN JeNNiNgstransaction manager
Pinnacle Real estate advisoR’s toP PRoduceR 2008, 2010, 2011, 2012, 2013 & 2014
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INTERSTATE
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liNdsey saNtaulariasenior transaction manager