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Prairie Vista Apartments 255 E 8th Ave 12 Unit Apartment Building $1,646,400 CAD ($137,200 CAD/Unit) 5% Cap Rate Akron, CO 80720
INVESTMENT HIGHLIGHTS
- Each unit has a covered front porch
- Each unit has a single car garage space with garage door opener
- Each unit has an 10'x12' locked storage room
EXECUTIVE SUMMARY
Very nice seniors 12 plex. Always 100% occupied plus waiting list. All units are 2- bedroom 1 bath (813 sq feet) Includes single car garage with opener and 10x12 lockable storage in garage, forced air heating and a/c, stove, refrigerator, dish washer, garbage disposal with covered front porch. Building located on 1 3/4 acres in county seat (Washington County). Also, includes common areas (recreational): Living room with fireplace, big kitchen for food prep and dining room that seats 30 or more. Owners provide water and trash. Tenants pay gas and electric.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$150,989
|
$13.13
|
| Other Income |
$2,636
|
$0.23
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$153,624
|
$13.36
|
| Taxes |
$4,673
|
$0.41
|
| Operating Expenses |
$84,448
|
$7.34
|
| Total Expenses |
$89,121
|
$7.75
|
| Net Operating Income |
$64,503
|
$5.61
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $150,989 |
| Annual Per SF | $13.13 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,636 |
| Annual Per SF | $0.23 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $153,624 |
| Annual Per SF | $13.36 |
| Taxes (CAD) | |
|---|---|
| Annual | $4,673 |
| Annual Per SF | $0.41 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $84,448 |
| Annual Per SF | $7.34 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $89,121 |
| Annual Per SF | $7.75 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $64,503 |
| Annual Per SF | $5.61 |
PROPERTY FACTS
| Price | $1,646,400 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $137,200 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 1.75 AC |
| Cap Rate | 5% | Building Size | 11,500 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 12 | Year Built | 2005 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | N/A - Multi family | ||
| Price | $1,646,400 CAD |
| Price Per Unit | $137,200 CAD |
| Sale Type | Investment |
| Cap Rate | 5% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.75 AC |
| Building Size | 11,500 SF |
| No. Stories | 1 |
| Year Built | 2005 |
| Opportunity Zone |
Yes |
| Zoning | N/A - Multi family |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Wheelchair Accessible (Rooms)
SITE AMENITIES
- 24 Hour Access
- Clubhouse
- Courtyard
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | - | - |
1 1
PROPERTY TAXES
| Parcel Number | 92017024001 | Total Assessment | $41,588 CAD |
| Land Assessment | $5,605 CAD | Annual Taxes | $4,673 CAD ($0.41 CAD/SF) |
| Improvements Assessment | $35,984 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
92017024001
Land Assessment
$5,605 CAD
Improvements Assessment
$35,984 CAD
Total Assessment
$41,588 CAD
Annual Taxes
$4,673 CAD ($0.41 CAD/SF)
Tax Year
2024
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Presented by
Frank Hutchison
Prairie Vista Apartments | 255 E 8th Ave
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