49 Buck Street

Description

LOCATION: This prime property is located in South Fork, Colorado, on US Hwy 160. The lovely mountain town of South Fork offers shopping, restaurants, repairs, lumber yard, ATV dealers/rentals and small grocery store. DEEDED ACRES: There are two lots with approximately 1 acre M/L. EXTRA LOT: There is an extra lot adjoining west of the building that goes with the property. You can build apartments, another building or add-on utilizing this Lot. BUILDING: The Building is 4028 sq. ft. with an additional 718 sq. ft. Mezzanine area and is log & log siding with concrete sidewalks. The location has excellent visibility from U.S. Hwy 160, with a traffic count over 6,000 cars per day. There are two bathrooms, a kitchen, offices, loading/receiving door in the main rental where the Light House is located and each of the 3 remaining rentals have their own bathrooms. WATER AND SEWER: The property is served by a Well #40900-A. Sewer is on South Fork Water and Sanitation. RENTAL UNITS WITHIN BUILDING: There are currently 4 rental units within the building, but one more can be added by installing a doorway, which will close off part of a retail space currently used by owner. RENTS: All renters have signed a current one year lease and will be subject to a sale. Mountain Light House $1,800 per month. Small office $300 per month. Large office $500 per month. Additional retail space $600 per month. Total Rents = $3,200 per month. EXPENSES: Annual property tax = $5,112.40 for 2019. Utilities are approximately $300 per month and are pro-rated with the 4 renters spaces. NOTE (This is an average, winter months are higher and summer months are very low.) Total estimated Utilities = $3,600 annually. Dumpster for Trash = $80 per month. TOTAL EXPENSES ESTIMATED: $9,672.40 (Utilities are divided among tenants each month.) TOTAL INCOME $38,400.00 ESTIMATED RECAP RATE OF 5.35% ANNUALLY.