2961 W 91st Pl, Federal Heights, CO 80260

Property Description

7 well-designed studio apartments, each spanning approximately 350 SF. Complete with full kitchens and bathrooms for tenant convenience. Situated on a generous 12,000 SF lot, offering ample room for tenants. Includes 13+ off-street parking spaces, ensuring hassle-free parking. Income producing storage shed on the East end of the property. Within a mere 2-minute walk to the 92nd and Federal bus stop, providing excellent transportation options. Quick access to a multitude of employers along the Federal thoroughfare, enhancing tenant convenience. Value-add program includes an operational overhaul with professional third-party management. Unit renovations and exterior overhaul, including fresh paint and landscaping enhancements have been completed. Mastered meter for gas and electric, allowing for efficient utility billbacks. Well-maintained boiler system in excellent condition. GE electrical panels without any issues. Good condition roof and newer double-paned vinyl windows. Property is in excellent condition, allowing for a plug and play cash flowing asset. In place (NOI) of approximately $51,509 per year, accounting for a 5% vacancy and $4,937 per unit in expenses. Favorable financing available with lender quotes available on request Cheap and smooth transactional costs with ILC, appraisal and clear title already on file.