Property Type:
Residential Income
Square Footage:
11,369
Lot Size (sq. ft.):
20,038
Status:
Closed
Current Price:
$1,335,114
List Date:
11/27/2018
Last Modified:
9/05/2019
Overview
Description
This is the first time this property has been available since 1994.
The property, 200 Hermosa NE, occupies a full block from Hermosa to Solano on the north side of Copper and has a high walk (91), bike (99), and transit (41) scores (note – the property is about 300' north of the new ART Stop).
At the ask price of $1,355,114 and an average rent of $517, the measure of investment performance include a GRM of 10.25, a CAP rate of 5.85%, a price per unit of $63,577, a price per square foot of $117.42 and a before tax IRR of 17.50%.
If rents were raised to market of 658, the measure of investment performance improve to a cap rate of 8.08%, and a cash on cash of 10.71%.
Owner is open to seller financing, with a down payment of no less than 25%, interest rate of 6%, a 30 year amort, 5
Last Updated: September - 05 - 2019
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