It's a low-maintenance & profitable investment opportunity. Four 2-bed/1-bath units with quiet, reliable tenants. Current rental income is $5445 per month.
Each unit offers an open floor plan, a front deck, back balcony, large kitchen, fireplace, washer/dryer, water heater, dishwasher & radiant heating. Beautiful views of Pikes Peak. The building was constructed in the 80s & has older finishes (flooring, doors, and counters), but all systems are fully functional. A new roof was installed in 2021.
Overall, this is a solid, hands-on investment that an owner can easily self-manage. Strong income, good tenants make this a dependable long term investment.
Annual Expenses:
Property Taxes: $2,385
Insurance: $509
Water: $3,948 (electric is separately metered & paid by tenants; no gas)
Trash: $310
Repairs & Maintenance: $2,055