- For Sale $1,050,000
- Property Type Multi-Family
- Property Size 1,333 SF
- Cap Rate % 4.86
- Date Updated Jan 23, 2025
Description
– 4 Bedroom, 4 Bathroom Unit with a Total Kitchen, Bathroom, Lighting & Flooring Remodel in 2017
– Full Size Washer-Dryer, Granite Countertops, Upscale Cabinets
– Only Unit in the Complex that has Central A/C
– Each Bathroom has a Shower with Soaking Tub
– Perfect College Student Rental Less than a Block Away from the C.U. Campus
– Never Vacant--Usually Rented by Word-of-Mouth
– Top Floor Unit Gives Tenants Privacy as well as Views of the Foothills from the Private Deck
– Currently Leased to August 2025 at $5,400 / Month ($1,350 / Bedroom) Making the Cap Rate 4.86% on Current Income
– Rents for Next School Year Expected to go to $1,450 / Bedroom Making the Cap Rate 5.22% by Next Fall
– Unit Includes 3 Deeded Parking Spaces, One in the Underground Garage
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