109 S Adams Boulevard
Sale PendingProperty Photo
Property Photo 2
Property Photo 4
Property Photo 6
Property Photo 8
Property Photo 10
Property Photo 12
Property Photo 14
Property Photo 16
Property Photo 18
Property Photo 20
Property Photo 22
Property Photo 24
Property Photo 26
Property Photo 28
Property Photo 30
Property Photo 32
Property Photo 3
Property Photo 5
Property Photo 7
Property Photo 9
Property Photo 11
Property Photo 13
Property Photo 15
Property Photo 17
Property Photo 19
Property Photo 21
Property Photo 23
Property Photo 25
Property Photo 27
Property Photo 29
Property Photo 31
Property Photo 33
$789,000 
MLS #:
2516296
Beds:
14
Baths:
10
Sq. Ft.:
14880
Lot Size:
2.03 Acres
Yr. Built:
1989
Type:
Commercial
Commercial Building - Apartments
Taxes/Yr.:
$1,334
Area:
Westcliffe Town
Subdivision:
Adams Addition
Address:
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
Lawn
Roof: Metal
Trees
View of Mountains
Appliances:
Dishwasher
Garbage Disposal
Microwave
Oven/Range
Refrigerator
Washer & Dryer
Water Heater
Other Features:
Access- All Year
Accessibility Features
Apartments
Legal Access: Yes
Senior Only Area
Style: 2 story above ground
Style: Apartment
Style: Commercial
Utilities:
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: 06/13/24 2:15am) - 328

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
For Help Call Us!
We will be glad to help you with any of your real estate needs.
(719) 783-2803
Mortgage Calculator
%
%
Down Payment: $
Mo. Payment: $
Calculations are estimated and do not include taxes and insurance. Contact your agent or mortgage lender for additional loan programs and options.
Send To Friend
Share This Listing