840 842 Garnet, Delta, CO, 81416

Great Duplex with carports and yard and a park! – 6.6% stable CAP, with room to improve. Stable and fully leased for years, never vacant

#840 -95% remodeled (see pics) 2-3 months left on lease, (Tenant 1+ years)

#842 -No remodel, older, (lower rent). (Tenant Month to Month, for 7+ years)

New Paint exterior paint, new fences, some new upgrades on both units .

$26,400 a year Gross combined total ($1,250(#840) + $950( #842) =$2,200 month)

Notes: Tenants pay their own electric (2 electric meters) + sewer and garbage.

No gas /No gas bills!

Owner pays the city water bill (one bill per duplex, not side) , also 2 decks per duplex

No real HOA(no cost), a quiet , shared “private park” is included with a pergola (each duplex owns a share of this park 1/5)

Costs:

Water $850 yr,(city of Delta), Taxes yr$571, Insurance yr $750, Maintenance yr $1,055, Park yr $400* ( no yard costs, tenant takes care of yard.)

*Portion of their share of the yearly Park $400 (1/5th of adjacent communal lawn/park/garden) NO HOA!

Total expenses= $3,626 = NOI =$22,774. Stable 6.6 % CAP RATE

There is room to grow this also, as #842 is not remodeled and also under rented.

Investment Highlights
Stable true 6.6% CAP, easily renovated and CAP increased to 7.5%+

Monetize the land for more storage or garages?