A great fully rented Duplex up on Garnet Mesa above Delta CO. (near Telluride and Grand Junction and Montrose)
6.7% stable CAP, with room to improve.
Stable and fully leased for years, never vacant
#840 has been 99% remodeled (see pics) 2-3 months left on lease.
#842 has not, (lower rent). (Month to Month)
New Paint exterior paint, new fences, some new upgrades on both units .
$26,400 a year Gross combined total ($1,250 + $950 =$2,200 month)
Notes: Tenants pay their own electric (2 electric meters) + sewer and garbage.
No gas /No gas bills!
Owner pays the city water bill (one bill per duplex, not side) 2 decks per duplex
No real HOA(no cost), a quiet, shared "private park" is included with a pergola (each duplex owns a share of this park 1/5)
Water $850 yr,(city of Delta), Taxes $571, Insurance $750, Maint 1,055, Yard $400
Portion of their share of the yearly yard $400 9 (1/r of adjacent communal lawn/park/garden) NO HOA!
Total cost = $3,626 = NOI =$22,774. Stable 6.7 % CAP RATE
There is room to grow this also as #842 is not remodeled and also under rented.
Balcony, Barbecue, Garden, Playground