1145 Sherman Street Denver, CO 80203€¦ · Cash-on-Cash Return: 5.7% 7.2% Principle Reduction...
Transcript of 1145 Sherman Street Denver, CO 80203€¦ · Cash-on-Cash Return: 5.7% 7.2% Principle Reduction...
• Attractive Micro-Apartments in Prime Denver Neighborhood
• Three Blocks from Downtown & State Capitol
• Stunning Architecture & Curb Appeal
• Updated Common Areas with Vintage Charm
• 5.7% Current CAP Rate
Investment Highlights:
Conner Piretti
Greg Johnson&
The Palisade Apartments1145 Sherman Street
Denver, CO 80203
$6,200,000
Kyle Malnati
303.482.2828
Price: $6,200,000 # Units Unity Type Avg SqFt Avg Current Rent Avg Proforma RentPrice/Unit: $129,167 48 Studio 245 $836 $895Price/SqFt (net): $526.49
INCOME Current ProformaLoan Amount: $4,030,000 Gross Annual Rent: $481,740 $515,520Down Payment: $2,170,000 Utility Billback: $35,779 $35,779Interest Rate: 3.88% Vacancy Allowance (3%): ($15,526) ($16,539)Monthly Payment: $18,951 Net Rental Income: $501,993 $534,760
Other Income: $8,280 $8,280Effective Gross Income: $510,274 $543,040
Units: 48Year Built: 1927 EXPENSES Current ProformaZoning: C-MX-5 Taxes $32,186 $29,644Net Apt Size (SqFt): 11,776 Insurance $8,796 $8,796Lot Size (SqFt): 6,251 Utilities $24,628 $24,628Roof: Sloped Repairs & Maintenance $31,181 $31,181Heat: Gas Boiler Cleaning & Housekeeping $24,987 $24,987Parking Spaces: none Management $34,430 $38,013
Administrative & Misc. $3,186 $3,186Total Expenses: $159,394 $160,434Expense/Unit: $3,321 $3,342
Net Operating Income (NOI) $350,880 $382,606
Current ProformaNOI: $350,880 $382,606Projected Debt Service: ($227,407) ($227,407)Before Tax Cash Flow: $123,473 $155,199CAP Rate: 5.7% 6.2%Cash-on-Cash Return: 5.7% 7.2%Principle Reduction (yr. 1): $72,523 $72,523Total Return: 9.0% 10.5%
FINANCIAL ANALYSIS
INVESTMENT SUMMARY UNIT MIX AND AVERAGE RENT SCHEDULE
PROPOSED FINANCINGOPERATING DATA
PROPERTY DESCRIPTION
Calibrate Real Estate1145 Sherman Street
Financial Overview:
Calibrate Real Estate1145 Sherman Street
Additional Photos
Calibrate Real Estate1145 Sherman Street
Location Highlights
• Spectacular Location in Denver’s Capitol Hill Neighborhood
• Surrounded by Popular Dining, Entertainment, & Nightlife
• Desirable Neighborhood for Urban Renters
• Minutes to LoDo, RiNo, LoHi, & Cherry Creek
• Walk Score: 93 Bike Score: 96
Lincoln St.
Colorado StaTE Capitol
Broadway
11th AVe.
Colfax Ave.