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OFFERING MEMORANDUM
For More Information Contact
JASON KOCHCo-Founder/Principal
303.918.8909 | jkoch@nexus-cr.com |
ADAM RIDDLECo-Founder/Principal
303.257.7627 | ariddle@nexus-cr.com |
5599 S. WINDERMERE STLITTLETON, CO 80120
Property Overview
Property Photos
Maps
Financials
Sold Comparables
Location Overview
Demographics
The Nexus People
TABLE OFCONTENTS
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
PROPERTYOVERVIEW
PROPERTY OVERVIEWProperty Name: Ocelot Apartments
Address: 5599 S. Windermere St
Littleton, CO
Units: 35
Building SF: 19,938 SF
Parking: 37 Spaces
Land: 25,570 Sq-Ft
Zoning: APT Multi-Units (9+)
Year Built: 1971
Year Renovated: 2017
SYSTEMSGas/Elec Meters: Master/Individual Water: MasterTrash: RepublicRoof: FlatHeating: BoilerCooling: Wall Units
Purchase Price
Per Unit
Price Per SF
$4,850,000
$138,500
$243
INVESTMENT SUMMARY
Solar panels which lower tenant electric bills
New landscaping and exterior paint
Substantial metal work done to stairs
INVESTMENT HIGHLIGHTSMostly updated units
Close proximity to downtown Littleton
and light rail
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
Purchase Price:
Units:
Price Per Unit:
Total SF:
Price Per SF:
T6 Cap Rate:
Year 1 Cap Rate:
Year 1 Cash Flows:
$4,850,000
35
$138,500
19,938
$243
5.60%
6.05%
$129,424
INVESTMENT SUMMARY
Loan to Value:
Loan Amount:
Loan Term:
Interest Rate:
Interest Only Period:
Amortization:
75.00%
$3,640,000
30
4.50%
None
30 Years
DEBT SUMMARY
INVESTMENTSUMMARY
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
PROPERTYPHOTOS
Mostly updated units
Close proximity to downtown Littleton
and light rail
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
PROPERTYPHOTOS
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
PROPERTYPHOTOS
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
PROPERTYAERIAL
W POWERS AVE
S WIN
DERM
ERE
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
PROPERTY OVERVIEW
Area Map
LITTLETONSUBMARKET
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
SEAN HOLAMON Investment Advisor | 806.789.9799 | sholamon@nexus-cr.com
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
RENT ROLLANALYSIS
Unit Type
1 bed, 1 bath
2 bed, 1 bath
Unit Amount
34
1
Unit SF
544
725
Current Ave. Rent
$875
$1,200
Current Rent / SF
$1.61
$1.66
Market Rent
$945
$1,250
Market Rent / SF
$1.74
$1.72
UNIT SUMMARY:
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
FINANCIALS
REVENUE
Gross Potential Revenue
Vacancy
Rental Revenue
Expense Reimbursements
Other Residential Income
Effective Gross Revneue
EXPENSES
Repairs and Maintenance
Utilities
Insurance
Real Estate Taxes
Property Management
Admin and Other
Total Expenses
Expenses Per Unit
Net Operating Income
Cap Rate
Debt Service - Yr 1
Total Cash Flow
Cash on Cash Return
T12 Annualized
$371,795
($18,545)
$353,250
$17,974
$24,648
$395,909
($37,490)
($23,024)
($14,000)
($14,235)
($18,176)
($17,557)
($124,482)
($3,556)
$272,472
5.60%
($163,800)
$108,672
8.98%
Year 1
$399,960
($19,998)
$379,962
$0
$42,624
$422,586
($42,000)
($22,029)
($14,000)
($14,235)
($18,176)
($18,922)
($129,362)
($3,696)
$293,224
6.05%
($163,800)
$129,424
10.70%
Year 2
$441,959
($20,598)
$391,962
$0
$43,903
$435,264
($43,260)
($22,690)
($14,420)
($14,662)
($18,721)
($19,490)
($133,243)
($3,807)
$302,021
6.23%
($221,320)
$80,701
6.67%
Year 3
$424,318
($21,216)
$403,102
$0
$45,220
$448,321
($44,558)
($23,371)
($14,853)
($15,102)
($19,283)
($20,074)
($137,240)
($3,921)
$311,081
6.41%
($221,300)
$89,781
7.42%INC
OM
E
ST
AT
EM
EN
T
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
SOLDCOMPARABLES
Address
5599 S. Windermere St
1800 Fenton St, Denver
3540 S Pearl St, Englewood
3201 S Sherman St, Englewood
5995 W 29th Ave, Wheat Ridge
# Comp
SUBJECTPROPERTY
1
2
3
4
Units
35
13
41
11
12
Building SF
19,938
13,096
34,660
7,980
7,505
Sale Price
$4,850,000
$1,850,000
$5,650,000
$1,510,000
$1,700,000
Price Per Unit
$138,500
$142,308
$137,805
$137,273
$141,667
$139,763
Price Per Foot
$243
$141
$163
$189
$227
$180
Cap Rate
6.05%
4.00%
5.45%
5.57%
6.10%
5.28%
1
23
Averages
4
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
Downtown Denver and features Main Street lined with turn-of-the-century buildings that house some of the metro area’s most unique, independently owned businesses.
quaint restaurants and bars.
showcases the town’s historic agricultural roots with two working farms.
western week, sidewalk sale, zombie crawl, pig roast, candlelight walk, and
professionally produced live theatre, concerts, other cultural events and year
PROPOSAL TO MARKET
DOWNTOWN LITTLETON
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
DENVER GROWTH
PROPOSAL TO MARKET
Ranked as the top place to live in the U.S. by U.S. News & World Report, the city of Denver is home to over 693,000 residents (as of July 2016). An
people moving to the area each year, as this number is expected to grow by
growth throughout the metro. Some current projects include:
9-story office building and 6 story parking structure.Skyhouse Denver, a 354-unit apartment with street level retail.
tower and a separate hotel tower.
would be the largest developed in Denver since 1985.
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
LIGHT RAIL
PROPOSAL TO MARKET
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
DENVER INTERNATIONAL AIRPORT
PROPOSAL TO MARKET
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
2017 Summary
Population
Households
Families
Average Household Size
Owner Occupied Housing Units
Renter Occupied Housing Units
Median Age
Median Household Income
Average Household Income
2022 Summary
Population
Households
Families
Average Household Size
Owner Occupied Housing Units
Renter Occupied Housing Units
Median Age
Median Household Income
Average Household Income
1 Mile
15,771
7,578
3,446
2.05
2,444
5,134
36.8
$42,101
$55,843
1 Mile
16,849
8,064
3,650
2.06
2,604
5,460
37.4
$47,755
$64,767
3 Miles
95,439
40,477
24,196
2.33
24,083
16,394
42.0
$61,196
$90,388
3 Miles
100,709
46,672
22,678
2.08
22,063
24,609
40.9
$46,763
$67,116
5 Miles
283,388
117,134
72,334
2.39
73,550
43,584
40.5
$68,342
$98,743
5 Miles
301,637
124,416
76,472
2.40
77,779
46,638
41.2
$77,209
$110,698
5 MILES
3 MILES
1 MILE
DEMOGRAPHICS
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
ADAM RIDDLECo-Founder/Principal
| 303.257.7627 | ariddle@nexus-cr.com
JASON KOCHCo-Founder/Principal | 303.918.8909 | jkoch@nexus-cr.com
The Nexus People
ADAM RIDDLECo-FounderPrincipal303.257.7627ariddle@nexus-cr.com
KIM ROYSales & Operations Manager612.669.2068kroy@nexus-cr.com
AUSTIN SMITH Investment Advisor303.868.9096 asmith@nexus-cr.com
WALLIS HUTCHENS Office Manager 828.850.9033 whutchens@nexus-cr.com
SEAN HOLAMON InvestmentAdvisor806.789.9799 sholamon@nexus-cr.com
KEVIN WOOLSEYAnalyst 303.990.4361kwoolsey@nexus-cr.com
Not your average brokers.As a team, we might not appear as your typical brokerage - and that’s by design. Even though we’ve been in the industry for more
than two decades, we are as enthusiastic, energetic and collaborative as when we first started. At Nexus, there is no internal competition because our purpose is aligned. This reduces internal competition and makes us more productive on a per
broker/agent basis. We love coming to work everyday because we love helping our clients achieve their goals. You might find us in jeans instead of slacks, outside meeting people instead of in our office. We do things differently because we are different.
JASON KOCH Co-FounderPrincipal 303.918.8909 jkoch@nexus-cr.com
SHANNON LACKEYExecutive Assistant/Transaction Coordinator 707.332.5907 slackey@nexus-cr.com
ROBERT GRAYInvestmentAdvisor713.857.3054 rgray@nexus-cr.comColorado Springs Office
5599 S. WINDERMERE STLITTLETON, CO 80120
For More Information Contact
ADAM RIDDLECo-Founder/Principal
303.257.7627 | ariddle@nexus-cr.com |
JASON KOCH Co-Founder/Principal
303.918.8909 | jkoch@nexus-cr.com |
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