470 Burns Ave
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470 Burns Ave
6 Unit Apartment Building $1,126,889 CAD ($187,815 CAD/Unit) 6.16% Cap Rate Ignacio, CO 81137
Executive Summary
Looking for a solid multi family investment opportunity with room to increase rents, equity, and in a market with a high demand for affordable housing? This is it. Offering 6 total units, all 2 bedrooms and 1.5 bathrooms. The apartment is centrally located in Ignacio, walking distance to schools, grocery store, church, etc...25 minutes from Durango, Colorado. The demand for rental units such as this has never been higher in our market place. The exterior was repainted and stucco repaired in 2020. The interiors (5 of 6 units) were all painted in 2020. Sellers have replaced 1 furnace and 2 hot water heaters during their ownership. They have also upgraded 2 units with LVP flooring. Stable income, consistent demand, opportunity to raise rents... investment properties like this one don't come up very often in our Durango area market. Act now!
Data Room Click Here to Access
- Operating and Financials
Financial Summary (Actual - 2023) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,126,889 CAD | Building Class | B |
| Price Per Unit | $187,815 CAD | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 5,760 SF |
| Cap Rate | 6.16% | Average Occupancy | 100% |
| No. Units | 6 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1973 |
| Property Subtype | Apartment | Parking Ratio | 1.04/1,000 SF |
| Apartment Style | Low Rise |
| Price | $1,126,889 CAD |
| Price Per Unit | $187,815 CAD |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.48 AC |
| Building Size | 5,760 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1973 |
| Parking Ratio | 1.04/1,000 SF |
Unit Amenities
- Disposal
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Tub/Shower
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 6+6 | 6 | - | - |
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PROPERTY TAXES
| Parcel Number | R001930 | Improvements Assessment | $48,247 CAD (2024) |
| Land Assessment | $4,120 CAD (2024) | Total Assessment | $52,367 CAD (2024) |
PROPERTY TAXES
Parcel Number
R001930
Land Assessment
$4,120 CAD (2024)
Improvements Assessment
$48,247 CAD (2024)
Total Assessment
$52,367 CAD (2024)
zoning
| Zoning Code | MF |
| MF |
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470 Burns Ave
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