1145 sherman street denver, co 80203€¦ · cash-on-cash return: 5.7% 7.2% principle reduction...

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• Attractive Micro- Apartments in Prime Denver Neighborhood • Three Blocks from Downtown & State Capitol • Stunning Architecture & Curb Appeal • Updated Common Areas with Vintage Charm 5.7% Current CAP Rate Investment Highlights: Conner Piretti Greg Johnson & e Palisade Apartments 1145 Sherman Street Denver, CO 80203 $6,200,000 Kyle Malnati 303.482.2828

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Page 1: 1145 Sherman Street Denver, CO 80203€¦ · Cash-on-Cash Return: 5.7% 7.2% Principle Reduction (yr. 1): $72,523 $72,523 Total Return: 9.0% 10.5% FINANCIAL ANALYSIS INVESTMENT SUMMARY

• Attractive Micro-Apartments in Prime Denver Neighborhood

• Three Blocks from Downtown & State Capitol

• Stunning Architecture & Curb Appeal

• Updated Common Areas with Vintage Charm

• 5.7% Current CAP Rate

Investment Highlights:

Conner Piretti

Greg Johnson&

The Palisade Apartments1145 Sherman Street

Denver, CO 80203

$6,200,000

Kyle Malnati

303.482.2828

Page 2: 1145 Sherman Street Denver, CO 80203€¦ · Cash-on-Cash Return: 5.7% 7.2% Principle Reduction (yr. 1): $72,523 $72,523 Total Return: 9.0% 10.5% FINANCIAL ANALYSIS INVESTMENT SUMMARY

Price: $6,200,000 # Units Unity Type Avg SqFt Avg Current Rent Avg Proforma RentPrice/Unit: $129,167 48 Studio 245 $836 $895Price/SqFt (net): $526.49

INCOME Current ProformaLoan Amount: $4,030,000 Gross Annual Rent: $481,740 $515,520Down Payment: $2,170,000 Utility Billback: $35,779 $35,779Interest Rate: 3.88% Vacancy Allowance (3%): ($15,526) ($16,539)Monthly Payment: $18,951 Net Rental Income: $501,993 $534,760

Other Income: $8,280 $8,280Effective Gross Income: $510,274 $543,040

Units: 48Year Built: 1927 EXPENSES Current ProformaZoning: C-MX-5 Taxes $32,186 $29,644Net Apt Size (SqFt): 11,776 Insurance $8,796 $8,796Lot Size (SqFt): 6,251 Utilities $24,628 $24,628Roof: Sloped Repairs & Maintenance $31,181 $31,181Heat: Gas Boiler Cleaning & Housekeeping $24,987 $24,987Parking Spaces: none Management $34,430 $38,013

Administrative & Misc. $3,186 $3,186Total Expenses: $159,394 $160,434Expense/Unit: $3,321 $3,342

Net Operating Income (NOI) $350,880 $382,606

Current ProformaNOI: $350,880 $382,606Projected Debt Service: ($227,407) ($227,407)Before Tax Cash Flow: $123,473 $155,199CAP Rate: 5.7% 6.2%Cash-on-Cash Return: 5.7% 7.2%Principle Reduction (yr. 1): $72,523 $72,523Total Return: 9.0% 10.5%

FINANCIAL ANALYSIS

INVESTMENT SUMMARY UNIT MIX AND AVERAGE RENT SCHEDULE

PROPOSED FINANCINGOPERATING DATA

PROPERTY DESCRIPTION

Calibrate Real Estate1145 Sherman Street

Financial Overview:

Page 3: 1145 Sherman Street Denver, CO 80203€¦ · Cash-on-Cash Return: 5.7% 7.2% Principle Reduction (yr. 1): $72,523 $72,523 Total Return: 9.0% 10.5% FINANCIAL ANALYSIS INVESTMENT SUMMARY

Calibrate Real Estate1145 Sherman Street

Additional Photos

Page 4: 1145 Sherman Street Denver, CO 80203€¦ · Cash-on-Cash Return: 5.7% 7.2% Principle Reduction (yr. 1): $72,523 $72,523 Total Return: 9.0% 10.5% FINANCIAL ANALYSIS INVESTMENT SUMMARY

Calibrate Real Estate1145 Sherman Street

Location Highlights

• Spectacular Location in Denver’s Capitol Hill Neighborhood

• Surrounded by Popular Dining, Entertainment, & Nightlife

• Desirable Neighborhood for Urban Renters

• Minutes to LoDo, RiNo, LoHi, & Cherry Creek

• Walk Score: 93 Bike Score: 96

Lincoln St.

Colorado StaTE Capitol

Broadway

11th AVe.

Colfax Ave.