38.74762 -105.18408

237 W Carr Avenue Cripple Creek, CO 80813

241348508 38.74762 -105.18408 156 /listing/241348508-150476844/237-w-carr-avenue-cripple-creek-co-80813 False 0 715000.0 105 8958787 False
  • $715,000
  • 0.28 lot
  • Est payment $3838.27/mo

Property & Neighborhood Info

Courtesy Of RE/MAX Performance Inc

Multi-Family in Cripple Creek

This is an investors dream! The property has 10 units that are rented 100% of the time. 9 units are fully furnished and have had a 100% occupancy rate for the last 5 years. The main house was built in 1910 however the addition was added in 1990 which includes 7 of the 10 units. There are also 2 cottages on the property that were built in 2003. The cottages have new electrical ran to them. The main house just had the boiler system completely redone and the hot water tank is less then 5 years old. The roof is in great shape and the property has been maintained well. Owner currently is paying internet, water, electric, gas, TV, and trash and still cash flows. There is room for rent increase on almost every unit which only increases the potential for the next owner. The main apartment is 2 bedrooms, 2 bathrooms with its own kitchen, laundry and front porch. There is 6 units on the second floor that act at studios. Each has their own bathroom, microwave and mini fridge but they share a kitchen area. one Unit in the lower level that was a garage conversion and 2 separate cottages the sit behind the home. 3 units have been rented for 5+ years, 1 for 4 years, and 3 for 2 years. Talk about a proven track record for a great investment! With a 9.8% Capitalization rate and room to improve with increased rents this makes for a perfect investment. The property is fully rented so you can start making money the day you close. All tenants are willing to stay , however no leases are currently signed.

Courtesy Of RE/MAX Performance Inc
  1. 0.28 Lot

Main Features

  • Listing Status: Active
  • Year Built: 1910
  • School District: Cripple Creek/Victor
  • County: Teller
  • Taxes: $572.00
  • Tax Year: 2018
  • Units: 5
  • Subdivision: Freeman Placer
  • MLS Number:8958787

Additional Features

  • Laundry:
    • Common
    • Electric Hook-up
  • Appliances:
    • Gas in Kitchen
    • Microwave Oven
    • Oven
    • Refrigerator
  • Fireplace:
    • None
  • Construction:
    • Wood Frame
  • Roof:
    • Composite Shingle
  • Sub Type:
    • Aptmts(6+Units)
  • Foundation:
    • Crawl Space
  • Siding:
    • Masonite Type
  • Parking Spaces:
    • 6
  • Heating/Cooling:
    • Radiant Heat
  • Utilities:
    • Natural Gas
  • Water:
    • Municipal
  • Special Conditions:
    • See Show/Agent Remarks
  • Total Acres:
    • 0.2800
Neighborhood info courtesy of Homes.com © 2019

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