Gaylord - images1.loopnet.com...S t ae P rk Chatfield S t ae P rk EAR CR K PARK Interlocken Business Park Stapleton R ed v lopm nt Area ... $154.94 2455 S. Gaylord St 2465-2475 S

Kevin Calame, Senior Advisor • 303-962-9535Matt Lewallen, Senior Advisor • 303-962-9561

2465-2475 S. Gaylord StreetDenver, Colorado

One Broadway Suite 300A | Denver, CO 80203 www.PinnacleREA.com /calamelewallenteam

Confidential Offering Memorandum

Gaylord

Disclosure and Confidentiality Agreement

This confidential Offering Memorandum, has been prepared by Pinnacle Real Estate Advisors, LLC (“Pinnacle REA”) for use by a limited number of qualified parties. This Offering Memorandum has been provided to you at your request based upon your assurances that you are a knowledgeable and sophisticated investor in commercial real estate projects and developments. Pinnacle REA recommends you, as a potential buyer/investor, should perform your own independent examination and inspection of the property described herein as 2465-2475 S. Gaylord Street located in Denver, Colorado (the “Property”) and of all of the information provided herein related to the Property. By accepting this Offering Memorandum, you acknowledge and agree that you shall rely solely upon your own examination and investigation of the Property and you shall not rely on any statements made in this Offering Memorandum or upon any other materials, statements or information provided by Pinnacle REA or its brokers.

Pinnacle REA makes no guarantee, warranty or representation about the completeness or accuracy of the information set forth in this Offering Memorandum. You are responsible to independently verify its accuracy and completeness. Pinnacle REA has prepared the information concerning the Property based upon assumptions relating to the general economy, its knowledge of other similar properties in the market, and on other market assumptions including factors beyond the control of the Pinnacle REA and the Owner of the Property. Pinnacle Real Estate Advisors make no representation or warranty as to either the accuracy or completeness of the information contained herein, and the information set forth in this Offering Memorandum in not intended to be a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be accurate, Pinnacle REA and the Property Owner disclaim any responsibility or liability for any inaccuracies. Further, Pinnacle REA and the Property Owner disclaim any and all liability for any express or implied representations and warranties contained in, or for any omissions from, the Offering Memorandum and for any other written or oral communication transmitted or made available to you. Pinnacle REA shall make available to you, as a qualified prospective investor, additional information concerning the Property and an opportunity to inspect the Property upon written request.

This Offering Memorandum and the contents are intended to remain confidential except for such information which is in the public domain or is otherwise available to the public. By accepting this Offering Memorandum, you agree that you will hold and treat Offering Memorandum in the strictest confidence, that you will not photocopy or duplicate it, or distribute it. You agree you will not disclose this Offering Memorandum or its contents to any other person or entity, except to outside advisors retained by you and from whom you have obtained an agreement of confidentiality, without the prior written authorization of Pinnacle REA. You agree that you will use the information in this Offering Memorandum for the sole purpose of evaluating your interest in the Property. If you determine you have no interest in the property, kindly return the Offering Memorandum to Pinnacle REA at your earliest convenience.

Investment Contacts:

Kevin CalameSenior [email protected]

Matt LewallenSenior [email protected]

TABLE OF CONTENTS

EXECUTIVE SUMMARY

PROPERTY OVERVIEW LOCATION OVERVIEW

FINANCIAL ANALYSIS

MARKET OVERVIEW

Investment Contacts:

Kevin CalameSenior [email protected]


2465-2475 S. Gaylord Street

EXECUTIVE SUMMARY


Pinnacle Real Estate Advisors, LLC has been retained as the exclusive marketing advisor for 2465-2475 S. Gaylord Street in Denver, Colorado. Qualified investors have the opportunity to acquire this 17-unit multifamily property located on the Denver University Campus. The property was built in 1957, it offers long term stability along with good value-add potential.

The property is located in the highly desirable DU Neighborhood located just steps away from numerous classroom buildings, neighborhood parks, restaurants, and other campus activities. The property’s unit mix includes one-bedroom/one-bath and two-bedroom/one-bath units.


Offering SummaryAddress 2465-2475 S. Gaylord St., Denver, COSquare Feet 11,616 SFUnits 17Price $2,750,000Price/Unit $161,764Year Built 1957

PROPERTY OVERVIEW


LOCATION SUMMARYAddress: 2465-2475 S. Gaylord Street

Denver, CO

PROPERTY DESCRIPTIONUnits: 17 Year Built: 1957Building Type: Brick-BlockBuilding Size: 11,616 SFLot Size (sqft): 11,875 SFZoning: G-MU-5Roof: Pitched HVAC: BoilerParking: 14 Spaces

INVESTMENT SUMMARYPrice: $2,750,000Price/Unit: $161,764Price/SF: $236.74

FINANCINGLoan Amount: $2,062,500 Down Payment (25%): $687,500 Interest: 4.25%Amortization: 30 years Monthly Pmt. $10,146

PR

OP

ER

TY O

VE

RV

IEW


UN

IT M

IX UNIT MIX Unit Type No. of Units Approx. SF Current Rent Monthly Income Market Rent Market Monthly Rent Market Rent/SF1 Bd/1 Ba 8 600 $741 $5,928 $950 $7,600 $1.58 2 Bd/1 Ba 9 725 $761 $6,849 $1,350 $10,800 $1.66 Total 17 11,325 $12,777 $18,400


LOCATION OVERVIEW


AE

RIA

LA

ER

IAL

2465-2475 S. Gaylord StDenver, CO• 17 Units• 11,616 SF• 1957

University of Denver

Campus

N

EVANS AVENUE

UN

IVER

SITY

BO

ULE

VAR

D

INTERSTATE

25


LOC

ATIO

N O

VE

RV

IEW

I-25

36

36

93

70

70

70

70

225I-25

I-25

76

I-25

287

13 3432

30

45

66

41

85

19

52

22

66

20

31

119

287

8

470

36

470

470

470

83

85

285

470

6

6

Alameda AveAlameda Ave

Colfax Ave

Baseline Rd

South Boulder Rd

96th Ave

104th Ave

136th Ave

120th Ave

112th Ave

144th Ave

144th Avenue

88th Ave

80th Ave

72nd Ave

64th Ave

58th Ave

44th Ave

56th AveWar

d R

d

Kip

ling

St

Kip

ling

St

San

ta F

e D

r

Parker Rd

Smoky Hill Rd

Jordan Rd

Hampden Ave

W Evans Ave

dvlB nadir eh

S

Belleview Ave

Arapahoe Rd

Quincy AveQuincy Ave

Dry Creek Rd

Lincoln Ave

Main St

Del

bert

Rd

County Line RdMineral Ave

Orchard RdBowles Ave

Morrison Rd

6th Ave

Iliff Ave

Mississippi Ave

Montview Blvd

Yale Ave

Colfax Ave

160th Avenue

Yos

emite

St

38th Ave32nd Ave

Fede

ral B

lvd

Hur

on S

t

Wad

swor

th B

lvd

Wad

swor

th B

lvd

Bro

adw

ay

Uni

vers

ity B

lvd

Uni

vers

ity B

lvd

Col

orad

o B

lvd

Pot

omac

St

ywk

P ocanoM

Peo

ria S

t

Cha

mbe

rs R

d

Buc

kley

Rd

Tow

er R

d

Gun

Clu

b R

d

Pen

a B

lvd

Tow

er R

d

Que

bec

St

Que

bec

St

l leyRd

Da

Rocky MountainArsenal

Wil dlife Refuge

Cherry CreekState Park

Chatf ieldState Park

BEAR CREEK PARK

InterlockenBusiness Park

StapletonRedevelopment

Area

LowryRedevelopment

Area

DenverTech Center

InvernessBusiness

Park

MeridianBusiness Park

MONTBELLO

KEN CARYL RANCH

CHERRY HILLS VILLAGE

MORRISON

HIGHLANDS RANCH

LONE TREE

GREENWOODVILLAGE

NORTHGLENN

BROOMFIELD

SUPERIOR

LOUISVILLE

LAFAYETTE

BRIGHTON

WHEATRIDGE

ERIE

NIWOTFORT LUPTON

DACONO

FREDERICK

FIRESTONE

VALMONT

LOVELAND

COMMERCECITY

LARIMERCOUNTY

ADAMSCOUNTY

ARAPAHOECOUNTY

DOUGLAS COUNTY

WELDCOUNTY

JEFFERSONCOUNTY

ADAMSCOUNTY

BOULDERCOUNTY

JEFFERSON COUNTY

Jef fersonCountyAirpor t

Centenni alAirpor t

LONGMONT

BOULDER

WESTMINSTER

THORNTON

ARVADA

DOWNTOWN

MIDTOWN

ENGLEWOODLAKEWOOD

GOLDEN

EVERGREEN

LITTLETON

PARKER

AURORADENVER

DenverInternational

Airport

Ken Caryl Ave.

Downtown Denver 12 Minutes

Denver Tech Center 14 Minutes

Denver Airport 42 Minutes

DRIVE TIMES


FINANCIAL SUMMARY


CU

RR

EN

T A

ND

YE

AR

ON

E P

RO

JEC

TIO

NS

INCOME: Current * ProFormaGross Scheduled Rent $ 153,336 $237,000

Less: Vacancy (3%) ($4,600) ($7,110)Gross Rental Income $148,736 $229,890

Laundry ($10/unit/month) $2,040 $2,040 Parking (Current) (Pro forma $50/space mo.) $1,598 $7,800 RUBS (85% of U/W/T) $3,876 $13,728 Other Income $7,514 $23,568

Effective Gross Income $156,250 $261,966

EXPENSES:Property Tax (Assessor) $14,575 $14,575 Insurance (est. $325/unit) $5,525 $5,525 Utilities (est.) $10,150 $10,150 Water/Sewer (est.) $4,500 $4,500 Trash (est. $125/mo) $1,500 $1,500 Lawn/Snow (est.) $1,200 $1,200 Management (7% of EGI) $10,937 $17,742 Repairs/Maint. (est. 650/unit) $11,050 $11,050

Total Operating Expenses $59,437 $66,242Expenses/ Unit $3,496 $3,897NET OPERATING INCOME $96,812 $187,215*Expense are estimates

FINANCIAL ANALYSISCurrent ProForma

Net Operating Income $96,812 $187,215 Projected Debt Service ($121,755) ($121,755)Before Tax Cash Flow ($24,943) $65,460 CAP Rate 3.52% 6.81%Cash-on-Cash Return -3.63% 9.52%


MARKET OVERVIEW


SO

LD C

OM

PAR

AB

LES

Sale Date: 1/19/2016Sale Price: $2,875,000Built: 1957Units: 17Unit Mix: 17-1Bd/1BaPrice/Unit: $169,117Price/SF: $322.09

2441 S. York Denver, CO 80210

Sale Date: 6/22/2015Sale Price: $2,689,000Built: 1958Units: 15Unit Mix: 9-1Bd/1Ba

6-2Bd/1BaPrice/Unit: $179,267 Price/SF: $245.53

2421-2449 S. Gaylord StDenver, CO 80210

Sale Price: $2,750,000Built: 1957Units: 17Unit Mix: 8 -1Bd/1Ba

9 -2Bd/1BaPrice/Unit: $161,764Price/SF: $236.74

2465-2475 S. Gaylord StDenver, CO 80210

Sale Date: 12/3/2014Sale Price: $1,500,000Built: 1958Units: 10Unit Mix: 10 - 2Bd/1BaPrice/Unit: $150,000Price/SF: $154.94

2455 S. Gaylord StDenver, CO 80210


RE

NT

CO

MPA

RA

BLE

S

Approx. Size: 700 SFBedrooms: 2Bd/1BaRent: $1,495

Approx. Size: 560 SFBedrooms: 1Bd/1BaRent: $1,095

2421 S. Gaylord St Denver, CO

TWO BEDROOM COMPARABLES

Approx. Size: 758 SFBedrooms: 2Bd/1Ba

Rent: $1,400

2455 S. Gaylord Street Denver, CO

Approx. Size: 485 SFBedrooms: 1Bd/1BaRent: $975

2459 S. York St Denver, CO

ONE BEDROOM COMPARABLES

2421 S. Gaylord St Denver, CO


LE CIRQUEKevin CalameSenior Advisor [email protected]


Thomas Graeve Advisor [email protected]

Doug Kaste Advisor [email protected]

© 2015 Pinnacle Real Estate Advisors, LLC. All information contained herein has been obtained from sources we believe to be reliable. However, we accept no responsibility for its accuracy and encourage verification of all information prior to making financial decisions.

One Broadway | Suite 300ADenver | Colorado | 80203www.PinnacleREA.com

CALAME | LEWALLEN TEAMKassia ClarkOperations Manager [email protected]

Documents

Gaylord - images1.loopnet.com...S t ae P rk Chatfield S t ae P rk EAR CR K PARK Interlocken Business Park Stapleton R ed v lopm nt Area ... $154.94 2455 S. Gaylord St 2465-2475 S