840 -842 Garnet, Delta

$344,000

4 Beds
4 Baths
1,902 Sqft
.09 Acres
0 Garages

Great Duplex with carports and yard and a park! - 6.6% stable CAP, with room to improve. Stable and fully leased for years, never vacant

#840 -95% remodeled (see pics) 2-3 months left on lease, (Tenant 1+ years)

#842 -No remodel, older, (lower rent). (Tenant Month to Month, for 7+ years)

New Paint exterior paint, new fences, some new upgrades on both units .

$26,400 a year Gross combined total ($1,250(#840) + $950( #842) =$2,200 month)

Notes: Tenants pay their own electric (2 electric meters) + sewer and garbage.

No gas /No gas bills!

Owner pays the city water bill (one bill per duplex, not side) , also 2 decks per duplex

No real HOA(no cost), a quiet , shared "private park" is included with a pergola (each duplex owns a share of this park 1/5)

Costs:

Water $850 yr,(city of Delta), Taxes yr$571, Insurance yr $750, Maintenance yr $1,055, Park yr $400* ( no yard costs, tenant takes care of yard.)

*Portion of their share of the yearly Park $400 (1/5th of adjacent communal lawn/park/garden) NO HOA!

Total expenses= $3,626 = NOI =$22,774. Stable 6.6 % CAP RATE

There is room to grow this also, as #842 is not remodeled and also under rented.

Investment Highlights
Stable true 6.6% CAP, easily renovated and CAP increased to 7.5%+

Monetize the land for more storage or garages?

Essential Information
MLS® #5306021
Price$344,000
Bedrooms4
Bathrooms4.00
Full Baths2
Half Baths2
Square Footage1,902
Acres0.09
Year Built1971
TypeResidential
Sub-TypeMulti Family
StyleContemporary, Bi-Level
StatusActive
Community Information
Address840 -842 Garnet
Subdivisionnone
CityDelta
CountyDelta
StateCO
Zip Code81416
Utilities

Cable Available, Electricity Available, High Speed Internet Available

Interior
HeatingElectric
CoolingEvaporative Cooling
StoriesMulti/Split
Appliances

Convection Oven, Dishwasher, Disposal

Exterior
RoofArchitectural, Shingle
ConstructionCedar, Other, Wood Siding
FoundationSlab
Exterior Features

Balcony, Dog Run, Fire Pit, Garden, Barbecue

School Information
DistrictDelta County 50J
ElementaryGarnet Mesa
MiddleDelta
HighDelta
Additional Information
Date ListedNovember 9th, 2022
Days on Market79
Parking Spaces1
Listing Details
OfficeTelluride Realty LLC
LISTING MAP

Get directions to this property: