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Rustic Aire and Rustic Arms Portfolio

2 Multifamily Properties Offered at $14,500,000 in Englewood, CO

Investment Highlights

  • 71 Total Units (23 - Rustic Aire and 48 - Rustic Arms); Attractive Unit Mix consisting of 50 – 1Br/1Ba and 21 – 2Br/1Ba Units
  • One Block from Swedish Medical Center and Craig Hospital
  • New Boiler in Arms (2023), New Boiler in Aire (2024), Asphalt Overlay and Striping, 70% of AC Units Replaced, Stairwell Treads on Both Buildings
  • Assumable Debt at 3.27% until July 2031 - $2,508,000 Loan Balance for Aire and $5,492,000 Loan Balance for Arms ($8,000,000 Total)
  • Significant Rental Upside at Both in As-Is Condition and Post-Renovation

Executive Summary

These properties offer a combined total of 71 units, with 23 units at Rustic Aire and 48 units at Rustic Arms. This investment offers significant rental upside to a new Buyer both in as-is condition and post-renovation. There is individual assumable debt available on both properties. The interest rate for each loan is fixed at 3.27% for another 7 years at an LTV of 55% of the list price (CBRE Small Balance Freddie)

Taxes & Operating Expenses (Pro forma - 2024) Click Here to Access

Annual
Gross Rental Income $99,999
Other Income $99,999
Vacancy Loss $99,999
Effective Gross Income $99,999
Taxes -
Operating Expenses -
Total Expenses $99,999
Net Operating Income $99,999

Taxes & Operating Expenses (Pro forma - 2024) Click Here to Access

Gross Rental Income
Annual $99,999
Other Income
Annual $99,999
Vacancy Loss
Annual $99,999
Effective Gross Income
Annual $99,999
Taxes
Annual -
Operating Expenses
Annual -
Total Expenses
Annual $99,999
Net Operating Income
Annual $99,999

Property Facts

Price $14,500,000
Price / SF $342.35 / SF
Cap Rate 6.16%
Sale Type Investment
Status Active
Number of Properties 2
Individually For Sale 0
Total Building Size 42,354 SF
Total Land Area 1.07 AC

Properties

Property Name / Address Property Type Size Year Built Individual Price
Rustic Arms Apartments
3445 S Downing St, Englewood, CO 80113
Multifamily 27,294 SF 1968 -
Rustic Aire Apartments
3440 S Corona St, Englewood, CO 80113
Multifamily 15,060 SF 1970 -
Show More > < Show Less
  • Listing ID: 32463726

  • Date on Market: 7/15/2024

  • Last Updated:

  • Address: Rustic Aire and Rustic Arms Portfolio, Englewood, CO

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