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Westwood Cove 1412 W Gunnison Ave 12 Unit Apartment Building $4,424,000 CAD ($368,667 CAD/Unit) 4.51% Cap Rate Gunnison, CO 81230

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INVESTMENT HIGHLIGHTS

Quiet, private and shady.

EXECUTIVE SUMMARY

12 unit apartment complex consisting of three 4-plexes, on the West end of town, nestled in the trees not far from the Gunnison River. Over 1.5 acres allows room to build an additional 4-plex. Covered parking with locking storage for every unit. Large common areas landscaped with lava rock, grass and mature trees, in one of the quietest areas within Gunnison city limits.
12 units total, all are 2br/1 bath. 2 units are owner occupied; 10 units are under lease for: $1600, $1600, $1600, $1600, $1600, $1600, $1600, $1650, $1650, $1650. Gross rents are $193,800/year.
Expenses are: $49,494/yr, which is 10% of gross for Property Management/ taxes/insurance/water/sewer/trash/ landscaping/snow removal/maintenance. Tenants pay for their own electric.
With current rents, NOI is $144,306. Cap rate is 4.51% at asking price.
IF all units were leased for $1650 each, NOI would be $183,726, for a 5.74% Cap rate at asking price.

WW Cove Rents and NOI - Sheet1 (1)

Operating and Financials

PROPERTY FACTS

Price	$4,424,000 CAD	Building Class	C
Price Per Unit	$368,667 CAD	Lot Size	1.58 AC
Sale Type	Investment	Building Size	9,504 SF
Cap Rate	4.51%	Average Occupancy	100%
No. Units	12	No. Stories	2
Property Type	Multifamily	Year Built	1980
Property Subtype	Apartment	Parking Ratio	2.53/1,000 SF
Apartment Style	Low-Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$4,424,000 CAD
Price Per Unit	$368,667 CAD
Sale Type	Investment
Cap Rate	4.51%
No. Units	12
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	1.58 AC
Building Size	9,504 SF
Average Occupancy	100%
No. Stories	2
Year Built	1980
Parking Ratio	2.53/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.