$339,000
$344,000
1.5%For more information regarding the value of a property, please contact us for a free consultation.
SOLD DATE : 04/24/2023
Key Details
Sold Price $339,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 7018189
Sold Date 04/24/23
HOA Y/N No
Originating Board recolorado
Year Built 1971
Annual Tax Amount $575
Tax Year 2020
Property Description
A great fully rented Duplex up on Garnet Mesa above Delta CO. (near Telluride and Grand Junction and Montrose)
6.7% stable CAP, with room to improve.
Stable and fully leased for years, never vacant
#840 has been 99% remodeled (see pics) 2-3 months left on lease.
#842 has not, (lower rent). (Month to Month)
New Paint exterior paint, new fences, some new upgrades on both units .
$26,400 a year Gross combined total ($1,250 + $950 =$2,200 month)
Notes: Tenants pay their own electric (2 electric meters) + sewer and garbage.
No gas /No gas bills!
Owner pays the city water bill (one bill per duplex, not side) 2 decks per duplex
No real HOA(no cost), a quiet, shared "private park" is included with a pergola (each duplex owns a share of this park 1/5)
Costs:
Water $850 yr,(city of Delta), Taxes $571, Insurance $750, Maint 1,055, Yard $400
Total =$3,626
Portion of their share of the yearly yard $400 9 (1/r of adjacent communal lawn/park/garden) NO HOA!
Total cost = $3,626 = NOI =$22,774. Stable 6.7 % CAP RATE
There is room to grow this also as #842 is not remodeled and also under rented.
Location
State CO
County Delta
Zoning resi
Interior
Fireplace N
Exterior
Exterior Feature Balcony, Barbecue, Garden, Playground
Total Parking Spaces 1
Garage No
Building
Lot Description Greenbelt
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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