1140 Milwaukee St # 1140-1148, Denver, CO 80206 9 beds 4 baths 3,132 sqft Offered at $1,200,000 Gorgeous and newly updated Fourplex in the highly desirable neighborhood of Congress Park! These spacious apartment units feature beautiful finishes such as hardwood floors, stainless steel appliances, granite countertops, custom lighting and nicely appointed urban décor. The private backyard is well maintained and features a courtyard, gazebo, two car detached garage and an additional storage shed. Excellent tenants and very flexible leases are in place! Buyer has the option to terminate or set new rents for each unit after closing! One 4 bedroom unit Two 2 bedroom units One 1 Bedroom unit Total 9 bedrooms, 4 bathrooms (one bath in each unit.) Detached Two Garage and Storage Barn. Gross Monthly rent is $6,640/month. $79,680 annual gross income. Gross Annual Income: $79,680 Insurance – 1,600 year Annual Operating Expenses $1,500 Taxes - $3049 Lawn care - $432 annually Net Annual Income: $73,099 Cap Rate – 6.1% Clause in lease allows the buyer the option to terminate or set new rent rates after closing! New owner automatically keeps 50% of all deposits per the lease agreement. Monthly Lease Breakdown: $ 2520 + $2520 Deposit : 4 Bedroom, Upstairs $ 1290 + $1290 Deposit : 2 bedroom, Basement $ 1640 + $1640 Deposit : 2 bedroom Upstairs $ 1190 + $1190 Deposit : 1 bedroom, Basement Total $ 6,640 Tenant pay all utilities including water. (Owner pays water and bills back tenants) 3 furnaces and 3 boilers
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