523 S SHERMAN STREET $410,000
BYERS, CO 80103
Beds: 8 Number of Units: 4 Type: Multi-Unit Residential
Sale Details
| Sale Type | Price | Cap Rate | NOI |
| Investment | $ 410,000 | 10.47% | $ 42,931 |
Sale Notes
Enormous Income Opportunity.
This 1.7-acre property has 3 homes included in the sale 1 manufactured home with foundation (1970) and 2 mobile homes (one single wide 1978 and one double wide 2004). There is a 4th double wide mobile home on the property that pays lot rent and is owner-occupied. The land is zoned residential- offering room to grow; possibly adding more units. There is plenty of room for toys; boats, RV’s, Tractor Trailers, etc. There is a large barn with 4 car parking and a workshop. The barn height allows for RV’s as well as Semi Tractor Trailers. This property offers small-town living with easy access to downtown Denver via I-70. Byers, Colorado is just an hour East of Denver; a small and quiet community in unincorporated Arapahoe county.
Brochures & Other Documents
2019 Year End Financials & Prop Details
Property
| Property Type | Secondary Type | Rent Type | Affordable Type |
| Multi-Family | Manufactured Housing/Mobile Home Park | Market/Affordable | Affordable |
| Building Status | Buildings | Units | GBA | Floors |
| Existing | 4 | 4 | 4,196SF | 1 |
| Occupancy | Year Built | Year Renovated | Metering | Construction |
| 100% | 1970 | 2004 | Individual-Master | Metal |
| Parking | Land Area | Zoning | ||
| 14 Spaces | 1.73 AC | R-3 |
| APN/Parcel ID | Site Amenities |
| 1985-16-2-00-031 | Fence Lot – Gated – Storage Space |
Unit Amenities
| Cable Ready | Dishwasher | Disposal | Microwave | Storage Space | Washer/Dryer Hookup | Ceiling Fans | Eat-in Kitchen | Kitchen | Vaulted Ceiling |
| Refrigerator | Oven | Range | Tub/Shower | Carpet | Yard | Grill | Deck | Den | Dining Room |
| Family Room | Garden | Lawn | Linen Closet | Office | Pantry | Patio | Porch | Smoke-Free | Workshop |
Unit Mix
| Beds | Baths | Unit | Asking Rent |
| 2 | 2 | 1 | $700 – $900 |
| 3 | 2 | 1 | $1400 – $1600 |
| 4 | 2 | 1 | $1800 – $2000 |
| 3 | 3 | 1 | $400 – $500 |
Property Description
This 1.73 acre property has 3 mobile homes (2 double wide & one single) as well as 1 manufactured home with foundation – 3 are rentals and one is owner occupied. The owner occupied unit (Unit C) can be rented or be the primary residence of the new buyer; 4 beds/2 full baths – Master Suite with 5 piece bath. The land is zoned residential with tons of room to grow. There is plenty of room for toys; boats, RV’s, Tractor Trailers etc. There is a large barn with 2 car parking and a workshop. This property offers small town living with easy access to downtown Denver via I-70. Byers, Colorado is just an hour East of Denver; a small and quiet community in unincorporated Arapahoe county.
Financials
| TYPE | YEAR | |
| Proforma | 2020 | |
| Annual | Per SF | |
| Gross Rental Income | $51,600 | $12.30 |
| Effective Gross Income | $51,600 | $12.30 |
| Taxes | $1,265 | $0.30 |
| Operating Expenses | $7,404 | $1.76 |
| Total Expenses | $8,669 | $2.07 |
| Net Operating Income | $42,931 | $10.23 |
