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Johnstown Manor Apartments 201 E South 1st St

13 Unit Apartment Building $2,400,000 ($184,615/Unit) 6.58% Cap Rate Johnstown, CO 80534

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INVESTMENT HIGHLIGHTS

Turn-Key Asset with 12 out of 13 units fully renovated
13 Surface Parking Spots
Large Storage Units in Basement that Currently Provide Additional Income

Updated Windows, Two New High-Efficiency Boilers with Water Storage Tanks (2021), New Exterior Paint (2023) and Landscaping (2024)
In the Heart of Downtown Johnstown with the Ability to Walk to Numerous Restaurant and Retail Stores

EXECUTIVE SUMMARY

201 E. South 1st Street is a 13-unit apartment building located in Johnstown, CO. These units feature a unique mix consisting of (4) 1Br/1Ba units, (6) 2Br/1Ba units, and (3) 3Br/1Ba units. This turn-key investment is in excellent condition and requires little to no capital injection. Current ownership has updated the majority of the electrical panels in the units, installed a new roof and gutters (2017), and recently installed a new boiler. With a history of strong occupancy rates and stable rental income, the property is poised to continue generating consistent cash flow.

201e_South_1st_Street_OM_KnowltonLawson

FINANCIAL SUMMARY (PRO FORMA - 2024)	ANNUAL	ANNUAL PER SF
Gross Rental Income	$224,400	$17.07
Other Income	$31,395	$2.39
Vacancy Loss	$11,220	$0.85
Effective Gross Income	$244,575	$18.61
Taxes	$11,348	$0.86
Operating Expenses	$75,368	$5.73
Total Expenses	$86,716	$6.60
Net Operating Income	$157,859	$12.01

FINANCIAL SUMMARY (PRO FORMA - 2024)

Gross Rental Income
Annual	$224,400
Annual Per SF	$17.07

Other Income
Annual	$31,395
Annual Per SF	$2.39

Vacancy Loss
Annual	$11,220
Annual Per SF	$0.85

Effective Gross Income
Annual	$244,575
Annual Per SF	$18.61

Taxes
Annual	$11,348
Annual Per SF	$0.86

Operating Expenses
Annual	$75,368
Annual Per SF	$5.73

Total Expenses
Annual	$86,716
Annual Per SF	$6.60

Net Operating Income
Annual	$157,859
Annual Per SF	$12.01

PROPERTY FACTS

Price	$2,400,000	Building Class	C
Price Per Unit	$184,615	Lot Size	0.61 AC
Sale Type	Investment	Building Size	13,144 SF
Cap Rate	6.58%	Average Occupancy	100%
No. Units	13	No. Stories	2
Property Type	Multifamily	Year Built	1920
Property Subtype	Apartment	Parking Ratio	0.99/1,000 SF
Apartment Style	Low Rise

Price	$2,400,000
Price Per Unit	$184,615
Sale Type	Investment
Cap Rate	6.58%
No. Units	13
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.61 AC
Building Size	13,144 SF
Average Occupancy	100%
No. Stories	2
Year Built	1920
Parking Ratio	0.99/1,000 SF