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Enhanced return due to increasing rents from $710, today they are at $785, representing a 10.56% increase.The property's is walking distance to the central business district and biking distance to downtown, old town and a couple dozen brew pubs, and specialty coffee shows. (Think of it as the epicenter for the three B's - bikes, brews, and beer).At the ask price of $425,000 and an average rent of $785 the measure of investment performance include a GRM of 11.28, a CAP rate of 5.23%, a price per unit of $106,250, a price per square foot of $159.77 a before tax IRR of 12.90%.If rents were raised to market of $833, the measure of investment performance improve to a cap rate of 6.36%.
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Listing information last updated on June 1st, 2020 at 9:00pm MDT.