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Johnstown Manor Apartments 201 E South 1st St 13 Unit Apartment Building $2,350,000 ($180,769/Unit) 6.09% Cap Rate Johnstown, CO 80534
INVESTMENT HIGHLIGHTS
- Turn-Key Asset with 12 out of 13 units fully renovated
- 13 Surface Parking Spots
- Large Storage Units in Basement that Currently Provide Additional Income
- Updated Windows, Two New High-Efficiency Boilers with Water Storage Tanks (2021), New Exterior Paint (2023) and Landscaping (2024)
- In the Heart of Downtown Johnstown with the Ability to Walk to Numerous Restaurant and Retail Stores
EXECUTIVE SUMMARY
201 E. South 1st Street is a 13-unit apartment building located in Johnstown, CO. These units feature a unique mix consisting of (4) 1Br/1Ba units, (6) 2Br/1Ba units, and (3) 3Br/1Ba units. This turn-key investment is in excellent condition and requires little to no capital injection. Current ownership has updated the majority of the electrical panels in the units, installed a new roof and gutters (2017), and recently installed a new boiler. With a history of strong occupancy rates and stable rental income, the property is poised to continue generating consistent cash flow.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$207,720
|
$15.80
|
| Other Income |
$34,882
|
$2.65
|
| Vacancy Loss |
$10,386
|
$0.79
|
| Effective Gross Income |
$232,216
|
$17.67
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$84,195
|
$6.41
|
| Net Operating Income |
$148,021
|
$11.26
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $207,720 |
| Annual Per SF | $15.80 |
| Other Income | |
|---|---|
| Annual | $34,882 |
| Annual Per SF | $2.65 |
| Vacancy Loss | |
|---|---|
| Annual | $10,386 |
| Annual Per SF | $0.79 |
| Effective Gross Income | |
|---|---|
| Annual | $232,216 |
| Annual Per SF | $17.67 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $84,195 |
| Annual Per SF | $6.41 |
| Net Operating Income | |
|---|---|
| Annual | $148,021 |
| Annual Per SF | $11.26 |
PROPERTY FACTS
| Price | $2,350,000 | Building Class | C |
| Price Per Unit | $180,769 | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 13,144 SF |
| Cap Rate | 6.09% | Average Occupancy | 100% |
| No. Units | 13 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1920 |
| Property Subtype | Apartment | Parking Ratio | 0.99/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | CB,Johnstown | ||
| Price | $2,350,000 |
| Price Per Unit | $180,769 |
| Sale Type | Investment |
| Cap Rate | 6.09% |
| No. Units | 13 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 13,144 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1920 |
| Parking Ratio | 0.99/1,000 SF |
| Zoning | CB,Johnstown |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 4 | - | 367 - 687 |
| 2+1 | 6 | - | 775 |
| 3+1 | 3 | - | 1,094 |
PROPERTY TAXES
| Parcel Number | R4489486 | Improvements Assessment | $116,490 |
| Land Assessment | $9,800 | Total Assessment | $126,290 |
PROPERTY TAXES
Parcel Number
R4489486
Land Assessment
$9,800
Improvements Assessment
$116,490
Total Assessment
$126,290
MAP
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