8 Unit Apartment Building for Sale
Fully Remodeled 8-unit Income Property Near Wadsworth/Colfax Intersection at 1695 and 1697 Reed Street Lakewood, CO 80214
This is a Professionally fully remodeled Apartment Building that
offers a Current 10 year fixed renewable loan at 6.25% (3670.85 monthly) on a
Balance of $545,000 Amortized over 25 years.
- Arrange a Private Viewing
- Call SCOTT ROSE
FourStar Realty and Property Management
303 543 1466
Property Highlights
8 Unit Building
Fully Occupied
Comprehensive Remodel means Low Maintenance
All New Interior Construction
Kitchens - new cabinets, countertops, appliances, sinks, faucets, tile floors
Bathrooms - New Tubs, Ceramic Floors, Wall Tile, Faucets, Pedestals, Vanities, Commodes
Neutral Carpet and Ceramic Tile Flooring
Wall Texture and Paint - Neutral Walls, Designer Paint Accents and Valances
New Asphalt Parking Lot, Landscaping, Marquee Signage
Owned laundry, Submetered Boiler with Tenants Paying Heat
New Hot Water Heaters
Newer Duralast Roof with Warranty
Ample Off street parking
Central to Denver Transit, Shopping Centers, Major Cross Streets
The #1 investment of choice still remains Income-Producing Real Estate. It's an asset that allows investors to "Control Their Risks" because they can actively participate in the day-to-day decision-making and maximization of profitability.
Our Professionally Remodeled Apartment Building offers:
- a cash-flowing building without qualifying for a loan
- 8.8% Cap rate, currently better than any other secured investment.
- Fully remodeled building with full documentation and SKU numbers of all work done and materials used in the building. Including the names and numbers of every tradesman who worked on the building and what trade they did.
- Warranty of construction on the building.
- Opportunity to just bid on the down payment and the right to assume the cash flow of the building at very attractive commercial rate of 6.25%.
- Sub-metering of the high end Lochinvar boiler. This allows the owner to efficiently bill back the heat costs to tenants based on a internal meter read.
- An investment in a high population growth market; Denver Metro (see census chart)
- A controlled investment, unlike the stock market and other related investments.
- True passive income and a professional system of leasing, rent collection and minimal maintenance duties.
- Historically, Apartment buildings have been the oldest and most reliable retirement strategy for many generations. The winner of this auction will acquire high-yielding, income-producing apartment building that will provide a life time of income and transferable.
- Full transparency of all the mechanics and income of the building prior to bidding.
Why Buy an Apartment Building?
The Best Hedge Against Inflation - Unlike stocks and bonds, apartment buildings react positively to inflationary pressures due to annual increases in rental rates. In economic downturns, investors can lower rents to maintain full occupancy. In economic upturns, investors can increase rents to maximize net cash flow. Currently, we have kept our rents steady and remain full majority of the time.
Stability - People have to live somewhere. Occupancy levels of apartment properties over the long term have rarely dipped below 90% for any significant period of time, in contrast to property types such as office buildings where occupancy levels have dipped to 80% or less in most major markets.
Increased Demand - It is estimated that the American population will reach 370 million people by the year 2030. Most cannot qualify to purchase homes now, hence they will be living in rental properties. Apartments offer a basic necessity - shelter. Everyone needs a place to live and the demand will only increase! The longer you own this
Value Creation Opportunity - Many smaller communities have "unsophisticated" owners which can lead to under-capitalized and/or mismanaged communities, presenting significant investment opportunities to the savvy investor.
Income Tax Depreciation Laws - Increased depreciation over the first few years results in major tax benefits to investors. No other investment provides investors these key benefits: write-off depreciation, mortgage interest, and capital improvements and pay no taxes at year end.
For more information about the property, call or email Scott
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