840 - 842 Garnet Delta, CO 81416
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) Costs: Water $850 yr,(city of Delta), Taxes $571, Insurance $750, Maint 1,055, Yard $400 Total =$3,626 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.
|3 months ago||Listing updated with changes from the MLS|
|3 months ago||Price changed to $344,000|
|4 months ago||Listing first seen online|
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