The Meadows Apartments
12-unit complex
Buena Vista, CO 81122

Great income property!

The Meadows - Front
More Photos

Offering Price: $679,000

Income:
Units	Current Rates: Each	Total	Proforma, Proposed Increase: Each	Total
2 - 1 bedroom	$475	$950	$510	$1,020
10 - 2 bedroom	$555	$5,500	$575	$5,750
12 Storage Units	$25	$300	$35	$420
1 Laundry	$200	$200	$200	$200
Monthly Income		$6,950		$7,390
Annual Income		$83,400		$88,680

Expense:
Item		Annual Amount
Advertising		$140
Utilities		$7,300
Repair/Maint		$1,451
Taxes		$2,167
Insurance		$2,850
Laundry Repairs		$182
Management Fee		$3,600
Annual Expenses		$17,690		$17,690

Net Income:		$65,710		$70,990
Cap Rate:		9.6%		10.3%

All information and figures are approximate. Buyer is advised to make their own independent review. No contact is to be made with the tenants.

Structure was constructed in 1974, wood frame, well maintained, new 04/07 membrane roof system.
Vacancy rate is typically about 2%; 50 of tennants have been on property for over 3 years
Currently the property has an on-site manager; management fees are $250 month
Absentee ownership is easy with this property; I do it.
Buena Vista is consistently listed as one of the LOWEST vacancy areas in the state. According to the yearly housing survey BV typically has a 2-3% vacancy rate - very low. Great area for income property.

Rear Parking Lot

The Meadows Apartments - Buena Vista - Laundry

Laundry

Storage Sheds

The Meadows Apartments - Buena Vista - Utility Shed

Utility Shed

The Meadows Apartments - Buena Vista - Front

Front

Mountain View from front of The Meadows