Martin & Tope Real Estate
109 S Adams Boulevard
Sale Pending
Property Photo
1 of 33 Photos
MLS #:
Sq. Ft.:
Lot Size:
2.03 Acres
Yr. Built:
Commercial Building - Apartments
Westcliffe Town
Adams Addition
109 S Adams Boulevard
Westcliffe, CO 81252
Subsidized housing, zero vacancy, beautiful setting!
This is the perfect property for a true owner/operator. Make a low cash investment and allow the benefits of subsidies to provide stability to your leveraged operations. There are many rules to follow, but the reward for you can be multiple financial benefits that result in great returns, especially compared to the very low risk that the subsidies maintain! Mixed financing at an effective rate of just under 2% can be verified in the 17-year financial history. Based on listing price, the subsidies yield a GRM of 5, and a look under the covers reveals a Cap. Rate just under 6%. With the low-cost financing that is already in place to be assumed, the net cash returns are in the 10% range. Furthermore, this property has enjoyed full occupancy for the past 17 years of current ownership, and a tenant waiting list is consistently many months long. The USDA program rules can be complex; but the owner has agreed to assist as necessary to assure that you meet the management requirements of the ownership transition and understand just how this property can perform for you.
Interior Features:
Cooling: Central Air
Cooling: Electric
Flooring: Carpet
Flooring: Tile/Clay
Heating: Propane- Other
Power: 220 volt
Exterior Features:
Construction: Stucco
Corner Lot
Garden Area
Roof: Metal
View of Mountains
Garbage Disposal
Washer & Dryer
Water Heater
Other Features:
Access- All Year
Accessibility Features
Legal Access: Yes
Senior Only Area
Style: 2 story above ground
Style: Apartment
Style: Commercial
Cable T.V.
Garbage Collection
Internet: Cable/DSL
Internet: Satellite/Wireless
Phone: Land Line
Power Source: City/Municipal
Propane: Hooked-up
Sewer: Hooked-up
Water: Central Hooked Up
Listing offered by:
Michael Anthony - License# IR.100084142 with True Grit Land & Home - (720) 299-0235.
Map of Location:
Data Source: Listing data provided courtesy of: Westcliffe Listing Service (Data last refreshed: 07/22/24 6:05pm) - 367

Notice & Disclaimer: Information is provided exclusively for personal, non-commercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in renting or purchasing. All information (including measurements) is provided as a courtesy estimate only and is not guaranteed to be accurate. Information should not be relied upon without independent verification. The listing broker's offer of compensation (BOC) is made only to Westcliffe MLS participants.
More Information
Martin & Tope Real Estate
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