Income property for sale - $140,000.00 Leased to the same tenant since Jan 1, 2010 at $1295.00 per month / $15,540 per year. Taxes $1209 (valuation for 2010 was $165,213), Insurance @ $1000.00, annual return $13,331, creating a return of capital investment in only 15 years. Brick ranch in M Morris Heights, just north of Fitzsimons with full basement. Over 2500 square feet of finished living space in two separate apartments: 1) 1176 sq ft consisting of 3 bedrooms, 1 bath, living room, kitchen, dining room. @450 sq ft patio converted to a family room with fireplace, and separate heating. 2) 882 finished sq ft in basement with 294 sq ft storage/utility area with private entrance (converted 1 car garage). 2 bedrooms (1 conforming), 3/4 bath, family room, bonus room (could serve as 3rd bedroom), and kitchen. New carpet in all but kitchen/bath. Lot is 8925 sq ft / .20 acre, fully fenced back yard, and plenty of off road parking, remodeled in 2009. Current lease expires 7/31/11 and cash paying tenants are anxious to renew. Current lease requires 48 hour notice to show property to prospective buyer. Property is owned by LLC, two members, one a general contractor and one a real estate broker, so only a $500 transaction fee will be applied to this sale, paid by seller. No selling agents please. This property is not yet listed in the MLS, so call Dimmie Moss at (303) 990-1184 if you are interested in discussing the property. Neighborhood Description This is a quiet, working class neighborhood, north of Fitzsimons Hospital. Location makes it extremely easy to keep rented at very good rates.
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