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Prairie Vista Apartments 255 E 8th Ave 12 Unit Apartment Building $1,200,000 ($100,000/Unit) 5% Cap Rate Akron, CO 80720
Investment Highlights
- Each unit has a covered front porch
- Each unit has a single car garage space with garage door opener
- Each unit has an 10'x12' locked storage room
Executive Summary
Very nice seniors 12 plex. Always 100% occupied plus waiting list. All units are 2- bedroom 1 bath (813 sq feet) Includes single car garage with opener and 10x12 lockable storage in garage, forced air heating and a/c, stove, refrigerator, dish washer, garbage disposal with covered front porch. Building located on 1 3/4 acres in county seat (Washington County). Also, includes common areas (recreational): Living room with fireplace, big kitchen for food prep and dining room that seats 30 or more. Owners provide water and trash. Tenants pay gas and electric.
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$110,050
|
$9.57
|
| Other Income |
$1,921
|
$0.17
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$111,971
|
$9.74
|
| Taxes |
$3,406
|
$0.30
|
| Operating Expenses |
$61,551
|
$5.35
|
| Total Expenses |
$64,957
|
$5.65
|
| Net Operating Income |
$47,014
|
$4.09
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $110,050 |
| Annual Per SF | $9.57 |
| Other Income | |
|---|---|
| Annual | $1,921 |
| Annual Per SF | $0.17 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $111,971 |
| Annual Per SF | $9.74 |
| Taxes | |
|---|---|
| Annual | $3,406 |
| Annual Per SF | $0.30 |
| Operating Expenses | |
|---|---|
| Annual | $61,551 |
| Annual Per SF | $5.35 |
| Total Expenses | |
|---|---|
| Annual | $64,957 |
| Annual Per SF | $5.65 |
| Net Operating Income | |
|---|---|
| Annual | $47,014 |
| Annual Per SF | $4.09 |
Property Facts
| Price | $1,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $100,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.75 AC |
| Cap Rate | 5% | Building Size | 11,500 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 12 | Year Built | 2005 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | N/A - Multi family | ||
| Price | $1,200,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 5% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.75 AC |
| Building Size | 11,500 SF |
| No. Stories | 1 |
| Year Built | 2005 |
| Opportunity Zone |
Yes |
| Zoning | N/A - Multi family |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Clubhouse
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
Property Taxes
| Parcel Number | 92017024001 | Total Assessment | $30,319 |
| Land Assessment | $4,086 | Annual Taxes | $3,406 ($0.30/SF) |
| Improvements Assessment | $26,233 | Tax Year | 2024 |
Property Taxes
Parcel Number
92017024001
Land Assessment
$4,086
Improvements Assessment
$26,233
Total Assessment
$30,319
Annual Taxes
$3,406 ($0.30/SF)
Tax Year
2024
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Presented by
Frank Hutchison
Prairie Vista Apartments | 255 E 8th Ave
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