MULTI-FAMILY INVESTMENT PROPERTY FOR SALE
3911, 3913, 3915, 3917 CENTRAL ST. AND
3917, 3921, 3923, 3925 CENTRAL ST. EVANS, CO 80620
Jerry Chilson
Senior Advisor, Northern Colorado Division
970.691.5400
OFFERING SUMMARY
Sale Price: $1,300,000
Number Of Units: 8
Cap Rate: 6.15%
NOI: $76,772
Lot Size: 0.18 Acres
Year Built: 2003 Building Size: 8,288 SF Zoning: R2 Market: Evans Submarket: Greeley Price / SF: $156.85
Two Four-Plex apartment buildings with historically low vacancy and very good cash flow. The apartments are very well maintained and self-managed by the ownership group. Built in 2003, the apartments were constructed with partial brick and vinyl siding for low exterior maintenance.
Both apartment buildings consist of 4 units; each with 3 bedrooms, 1 bath and approx. 1036 SF. Each unit has individual hot water heaters, washer and dryer hookups, full kitchen, forced air, and central air conditioning. The yard is fully landscaped with a sprinkler system and plenty of parking for tenants.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS • 8 Units total
• All the units are 3 bed, 1 bath totaling approx. 1036 SF
• Each unit has central air, individual hot water heaters, washer dryer hookups • Close to HWY 85 and great access to Greeley
• Located within the Opportunity Zone of Evans, CO
Property Summary
3911, 3913, 3915, 3917 CENTRAL STREET AND 3917, 3921, 3923, 3925 CENTRAL STREET EVANS, CO 80620 SVN | Denver Commercial | Page 2
3911, 3913, 3915, 3917 CENTRAL STREET AND 3917, 3921, 3923, 3925 CENTRAL STREET EVANS, CO 80620 SVN | Denver Commercial | Page 4
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
UNIT NUMBER UNIT BED UNIT BATH UNIT SIZE (SF) LEASE START LEASE END LEASE START CURRENT RENT CURRENT RENT (PER SF) SECURITY DEPOSIT
3911 3 1 1,036 4/30/2016 Month to Month Current $1,150 $1.11 $895
3913 3 1 1,036 7/31/2017 Month to Month Current $1,150 $1.11 $895
3915 3 1 1,036 6/1/2019 6/30/2020 Current $1,100 $1.06 $995
3917 3 1 1,036 12/01/2019 12/31/20 Current $1,200 $1.16 $995
3919 3 1 1,036 1/01/2020 12/31/20 Current $1,200 $1.16 $1,200
3921 3 1 1,036 6/01/2019 Month to Month Current $1,180 $1.14 $1,000
3923 3 1 1,036 11/30/2019 11/30/2020 Current $1,200 $1.16 $1,200
3925 3 1 1,036 1/31/2015 Month to Month Current $1,150 $1.11 $895
Totals/Averages 8,288 $9,330 $1.13 $8,075
3911, 3913, 3915, 3917 CENTRAL STREET AND 3917, 3921, 3923, 3925 CENTRAL STREET EVANS, CO 80620 SVN | Denver Commercial | Page 6
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
INCOME SUMMARY PER SF
Gross Income $99,764 $12.04
EXPENSE SUMMARY PER SF
Insurance $4,400 $0.53
Taxes $4,917 $0.59
Maintenace $8,539 $1.03
Exterior Water for Landscaping $10,384 $1.25
Gross Expenses $28,242 $3.41
Net Operating Income $76,772 $9.26
INVESTMENT OVERVIEW
Price $1,300,000
Price per Unit $162,500
GRM 12.4
CAP Rate 6.2%
Cash-on-Cash Return (yr 1) 5.91 %
Total Return (yr 1) $76,772
Debt Coverage Ratio
-OPERATING DATA
Gross Scheduled Income $105,015
Other Income
-Total Scheduled Income $105,015
Vacancy Cost $5,250
Gross Income $99,764
Operating Expenses $28,242
Net Operating Income $76,772
Pre-Tax Cash Flow $76,772
FINANCING DATA
Down Payment $1,300,000
Loan Amount
-Debt Service
-Debt Service Monthly
-Principal Reduction (yr 1)
3911, 3913, 3915, 3917 CENTRAL STREET AND 3917, 3921, 3923, 3925 CENTRAL STREET EVANS, CO 80620 SVN | Denver Commercial | Page 8
The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 1 MILE 3 MILES 5 MILES
Total population 6,867 53,962 108,312
Median age 29.7 28.0 30.1
Median age (Male) 29.0 26.8 28.7
Median age (Female) 30.4 29.0 31.6
HOUSEHOLDS & INCOME 1 MILE 3 MILES 5 MILES
Total households 2,530 19,000 39,132
# of persons per HH 2.7 2.8 2.8
Average HH income $43,133 $43,302 $47,773
Average house value $174,581 $163,611 $171,193 * Demographic data derived from 2010 US Census
