Mixed Use Rental Portfolio Near Colorado Springs- AMAZING CASH FLOW

[Tracy Archer]

Amazing investment property that is an income producing set of 8 homes and a storage facility. The properties sit on 2 separate lots. There is a main stick built home on each property. The first is a remodeled 2 story stick built home with a detached 2 car garage with a long term tenant. This portion of the property has 4 single wide mobile homes of which 3 have been fully renovated and are rented to long term tenants. This side of the listing also includes a 12 unit storage building that has roll up doors and a concrete floor. The second side has a fully renovated single story 2 bed 1 bath home that sits on a large corner lot. This side also has 2 fully renovated and rented mobile homes. All mobile homes have had numerous updates for long term reliability such as updated pex water lines, fully insulated skirting and crawlspace heaters installed to negate any frozen water line concerns. Long term tenants are all up to date on payments and cover their own utilities. This property needs minimal owner involvement and is a great first investment property or a great investment for seasoned investors! Only expense to owner is propane tank rent, insurance and taxes! Amazing cashflow! Upgrades to homes include but are not limited to all pex water lines throughout, new furnaces- some replaced as early as 2017 and as late as 2022, new water heaters some replaced as late as 2016 and as early as 2022. Each property has its own propane tank and are all metered separately for power, water and sewer. Each tenant is responsible for their own lawn maintenance and snow removal. Current leases are in place. Current owner is relocating for warmer weather. 

The first portion with 5 properties and the storage units is listed at $369k and the second is not on the MLS but listed at $310k. Will offer a combined purchase price of both portions at $600k. Combined monthly income is $6672. Cap rate is over 13%!!! Call Tracy at (719)640-3897.