Idaho Springs
958 Idaho Springs Road
Idaho Springs, CO 80452
Investment Opportunity with Development Potential. 6 Unit Multifamily Cash Flowing Property In Beautiful Idaho Springs Colorado. Right of the I-70 and close to all ski resorts This property sits on 5 Acres of Land Zoned for an RV Park with ability to fit Storage and RV's on 36 Lots. Potential Revenue of 600 K per year. This is an Investors dream.
Exclusively Presented By:
Rick West
Archbold Capital Investment Group, LLC
5300 Ravenswood Lane
Johnstown
970-578-9825
rick@archboldcapitalinvestmentgroup.com
www.archboldcapitalinvestmentgroup.com
EXECUTIVE SUMMARY
Presented By:
Archbold Capital Investment Group, LLC
Great investment/development opportunity in the growing town of Idaho Springs. This 5.14 acres of land includes two rental duplexes with a monthly income of $4,000 per month. The owner created plans for a 38 space RV park. Located directly above Clear Creek Rafting and minutes from downtown Idaho Springs, this is an excellent opportunity for an investor that has the time to finish the construction.
Property Address:
958 Idaho Springs Road
Property City, State, Zip:
Idaho Springs, CO 80452
8
5
5288
1980
MARKETING SHEET (HOLD)
Property Address:
958 Idaho Springs Road
Presented by:
Property City, State,
Idaho Springs, CO 80452
Rick West
Bedrooms: 8 Baths: 5 Sq. Feet: 5288 Built: 1980
Archbold Capital Investment Group, LLC
Notes:
970-578-9825
rick@archboldcapitalinvestmentgroup.com
www.archboldcapitalinvestmentgroup.com
5 SFR Units on 5.14 Acres with 1 currently Vacant office which could be converted to a studio or 1 bed by adding kitchen.
PURCHASE/REHAB ASSUMPTIONS
% of ARV
After-Repair Value (ARV)
1,200,000.00
Purchase Price (Offer Price)
780,789.00
65%
Rehab Costs
26,000.00
2%
Total Closing and Holding Costs
2%
Total Financing Costs
-
0%
Total Project Cost Basis
832,612.67
69%
Total Amount Financed
-
Total Cash Committed
832,612.67
PROJECTED RESULTS
Projected Monthly Rent (net of vacancy)
Projected Monthly Expenses
1,292.38
Projected Monthly Net Operating Income
Cap Rate Based on Cost Basis
4.0%
Sweat Equity at End of Rehab
367,387.33
Cap Rate Based on ARV
2.8%
Monthly Cash Flow (before-tax)
2,781.62
Assumed Time to Complete Rehab
Cash-on-Cash Return (before-tax)
4.0%
Assumed Time to Lease Up
2 Months
Total Time between Acquisition and Lease-up
OPERATING INCOME AND EXPENSES REPORT
Rick West
958 Idaho Springs Road
Archbold Capital Investment Group, LLC
Idaho Springs, CO 80452
970-578-9825
OPERATING INCOME
Unit Type #
# of units
Monthly
Annual Rent
% of GSI
1
1
1br
276
500.00
6,000.00
11.9%
2
1
2br
892
1,200.00
14,400.00
28.6%
3
1
1br
308
500.00
6,000.00
11.9%
4
1
1br
406
800.00
9,600.00
19.0%
5
1
2br
792
1,200.00
14,400.00
28.6%
6
1
Studio
7
8
9
10
11
12
Total
6
2,674
Gross Schedule Income
4,200.00
50,400.00
100%
VACANCY LOSS
3.0%
126.00
1,512.00
Other Income
0.00
0.00
Gross Operating Income (Effective Gross Inc)
4,074.00
48,888.00
OPERATING EXPENSES
% of GOI
Advertising
Insurance Hazard
300.00
125.00
1,500.00
9.7%
3.1%
Legal
Miscellaneous
Repairs and Maintenance
650.00
270.83
3,250.00
21.0%
6.6%
Reserves
Taxes - Property
437.50
182.29
2,187.48
14.1%
4.5%
Utilities:
Water/Sewer
192.00
80.00
960.00
6.2%
2.0%
Electricity
Gas
Fuel Oil
Trash Removal
240.00
100.00
1,200.00
7.7%
2.5%
Snow Removal
500.00
208.33
2,500.00
16.1%
5.1%
Total Operating expenses
3,101.70
1,292.38
15,508.51
100%
32%
Net Operating Income
6,675.90
2,781.62
33,379.49
68%
CASH FLOW SUMMARY (HOLD)
Rick West
958 Idaho Springs Road
Archbold Capital Investment Group, LLC
Idaho Springs, CO 80452
970-578-9825
Month
0
1
2
3
4
5
6
7
8
Purchase
(780,789)
Closing Costs
(23,424)
Orig/Disc Points and Loan Closing Costs
Holding Costs
(600)
(600)
(600)
(600)
Rehab Draws/Expenses
(26,000)
Interest (Paid or Accrued)
0
0
0
0
Total Cash Spent in Period
(830,213)
(600)
(600)
(600)
(600)
Cumulative Financed
0
0
0
0
0
Cumulative Cost Basis
(830,213)
(830,813)
(831,413)
(832,013)
(832,613)
Cash Tied up in Deal
832,613
Equity Left in Deal
1,200,000
COMPARABLE SALES REPORT
Property Address:
958 Idaho Springs Road
Presented by:
Property City, State, ZIP:
Idaho Springs, CO 80452
Rick West
Bedrooms: 8 Baths: 5 Sq. Feet: 5288 Built: 1980
Archbold Capital Investment Group, LLC
Notes:
970-578-9825
rick@archboldcapitalinvestmentgroup.com
www.archboldcapitalinvestmentgroup.com
504 6th Street Georgetown CO
1.
2
4
3,000
12/10/19
585,073
195
104 W Colorado 103 Idaho Springs CO
2.
4
2
1,920
3/25/2020
560,000
292
108 Idaho Street Idaho Springs CO
3.
3
2
1,488
2/18/2020
290,000
195
