2812 West Colorado Avenue is for sale. The asking price is $1,000,000. This is a steady investment opportunity for someone looking for steady income. The (7) very stable tenants generate around $8,000 per month in gross income which produces approximately $60,000 in annual NOI. At the asking price, that’s a approximately a 6% cash-on-cash return with upside, and including depreciation of approximately $24,000 per year, this is a terrific investment especially for a high wage earner looking for shelter.
The building is 8,088 square feet on 14,135 square feet zoned C5 and over the past 3 years, the building has been remodeled and restored including a new roof, new HVAC, and new parking with bright LED lighting. There are no substantial maintenance issues anticipated. Annual property taxes are $11,023 and annual insurance costs are $3,155.
For a private showing and all the confidential financial details, call Tim Leigh: 719-337-9551 or Holly Trinidad: 719-337-0999.