Retail - General Merchandise Stores | Services - Hotels & Other Lodging

Asking Price	$600,000	Inventory
Gross Income	$68,649	Real Estate	$100**
Cash Flow	$50,491	Year Established	2000
FF&E	N/A	Employees	6000

* included in the asking price

** not included in the asking price

Income Properties For Sale in the Rocky Mountains of Colorado

Property 1 - Park Place Apartments - Six units: One 4BR house, Three 2BR apartments, One studio apartment, One vintage cabin and a workshop all for $399,000. Conveniently located one block from the center of the mountain town of Grand Lake, Colorado. This apartment complex has a history of nearly 100% occupancy over the past 15 years. Property 2 - Tallaqua Square, Retail Unit 5: 1700SF commercial property located on the boardwalk in the heart of downtown Grand Lake, CO. Built in 2000 this income property has two stories. The street level space has a lease until the end of 2011 securing your investment completely. The upper level is currently a gallery but could be anything you want. $279,000 gets you the best retail location in this great mountain community. For more details or to schedule a visit please call 719-539-2234 and ask for Lenny or Gail. Or email us at gallery@brooksphotography.com. Visit http://www.freshstart.brookswebdesign.com for more pictures.

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Facilities: Park Place Apartments has 4 separate buildings. There is a 4BR house with private fenced yard. The second building has a 2BR upstairs apartment, accessing from the shared courtyard, and a studio apartment + workshop which access from the alley. There is a small 1BR cabin called "Nirvana" on the SW corner of the property closest to Park Avenue. The fourth building is a duplex with two 2BR apartments accessing from the shared courtyard patio. Property in Tallaqua Square has 2 levels. Each level has 800SF of retail space.

Competition: Grand County, Colorado is an easy drive West from Denver on I70 to I40. Grand Lake is situated at the West entrance to Rocky Mountain National Park along the Continental Divide. Winter Park Ski area is in East Grand County. The Three Lakes region boasts lakes, streams, mountains, hiking, boating and much more - Western mountain living at its best! The largest natural lake in Colorado, Grand Lake, is one block from the downtown.

Growth/Expansion: The apartments are fully occupied with each unit on a one year lease. One year extensions are offered as each lease comes up. Tallaqua Square's street level unit is on year two of a three year lease ending Dec 2011. The popular retail store would extend beyond if the new owner desired. The upper level is occupied by the current owners as a Gallery. They would lease back the Gallery space for a year, if desired, or the new owner could occupy the upper level immediately.

Financing: Cash offers only please

Support/Training: Park Place Apartments for $399,000 has an Annual Gross Income of $46,320 at full occupancy with expenses of $10,390 making the Net Annual Income $35,930. Tallaqua Square for $279,000 has an Annual Gross Income of $22,329 and Expenses of $7,768 making Annual Net Income $14,561. The two properties purchased together for $600,000 have a CAP rate of 8%