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Todd Walsh, CCIM

303 444-5040

Todd@WeAreMarket.com

Heidi Schamber

303-444-4344

Heidi@WeAreMarket.com

1845 17th Street, Boulder, CO 80302• Sale Price: $1,500,000 • 2 Units / 8 Bed• Gross Annual Income 2018-2020

school year: $93,360 • Size: 2,302 SF

OFFERING TERMS OFFERED EXCLUSIVELY BY

1845 17TH STREET BOULDER, CO 80302

Offering Memorandum

OFFERING MEMORANDUM

1845 17th Street | Boulder, CO 80302

TODD WALSH, CCIM303 444 5040 Todd@WeAreMarket.com

HEIDI SCHAMBER303 444 4344 Heidi@WeAreMarket.com WeAreMarket.com

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1845 17TH STREET

PHOTOS

OFFERING MEMORANDUM

1845 17th Street | Boulder, CO 80302

TODD WALSH, CCIM303 444 5040 Todd@WeAreMarket.com

HEIDI SCHAMBER303 444 4344 Heidi@WeAreMarket.com WeAreMarket.com

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MARKET OVERVIEW

STUDENT TERRITORYThe University of Colorado at Boulder has a student enrollment population of over 33,000, which makes for a vigorous and reliable rental market for property owners. 1845 17th Street is located within walking distance to the CU campus, Naropa University, and downtown Boulder. With so much of Boulder to offer in every walkable direction, this highly desirable, location rarely sees vacancies. The community is comprised of 3,000 students, young professionals and long-time Boulder residents.

OFFERING MEMORANDUM

1845 17th Street | Boulder, CO 80302

TODD WALSH, CCIM303 444 5040 Todd@WeAreMarket.com

HEIDI SCHAMBER303 444 4344 Heidi@WeAreMarket.com WeAreMarket.com

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PROPERTY NAME/ADDRESS BUILDING SF SALE PRICE NUMBER OF UNITS & ROOMS

PRICE PER BED SALE DATE CAP RATE

1845 17th Street Boulder, CO 2,302 $1,500,000 2 Units 8 Bed

$187,500 N/A 4.91%

1927&1935 Goss 2,847 $2,008,000 3 Units10 Beds

9/11/2019 4.88%

965-967 Marine Boulder, CO 3,858 $1,930,000 3 Units 9 Rooms

$214,444 3/20/2018 4.62%

1603 Arapahoe, Boulder, CO 2,940 $1,350,000 2 Units 7 Rooms

$192,857 11/6/2018 4.67%

1635-1637 6th Street, Boulder, CO 2,190 $1,425,000 2 Units 3 Rooms

$475,000 11/7/2018 4.58%

1623 18th Street, Boulder, CO 1,664 $700,500 2 Units 4 Rooms

$175,125 12/18/2017 4.95%

COMP STACK

OFFERING MEMORANDUM

1845 17th Street | Boulder, CO 80302

TODD WALSH, CCIM303 444 5040 Todd@WeAreMarket.com

HEIDI SCHAMBER303 444 4344 Heidi@WeAreMarket.com WeAreMarket.com

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UNIT MONTHLY RENT GROSS MONTHLY RENT

DEPOSIT MOVE IN MOVE OUT ANNUAL RENT POTENTIALRENT

Front Base Rent $3,980.00 $4,210.00 $ 6,750.00 8/19/2019 8/11/2020 $50,520.00 $50,520.00

Utilities $100.00

Grounds Fee $100.00

Admin Fee $ 30.00

$4,210.00

Back Base Rent $3,220.00

$3,590.00

$ 5,670.00

8/19/2019 8/12/2020 $43,080.00

$43,080.00

Utilities $250.00

Grounds Fee $80.00

Admin Fee $40.00

$3,590.00

TOTAL $7,800.00 $7,800.00 $ 12,420.00 $93,600.00 $97,080.00

RENT ROLL WITH LEASE CHARGES

OFFERING MEMORANDUM

1845 17th Street | Boulder, CO 80302

TODD WALSH, CCIM303 444 5040 Todd@WeAreMarket.com

HEIDI SCHAMBER303 444 4344 Heidi@WeAreMarket.com WeAreMarket.com

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Jan-20 Feb-20 Mar-20 Apr-20 May-20 Jun-20 Jul-20 Aug-20 Sep-20 Oct-20 Nov-20 Dec-20 Total

INCOME - OPERATING INCOME

Rent 1/1/20-12/31/20 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,200.00 7,640.00 7,640.00 7,640.00 7,640.00 7,640.00 88,600.00

Grounds Fee 180.00 180.00 180.00 180.00 180.00 180.00 180.00 180.00 180.00 180.00 180.00 180.00 2,160.00

Tenant Utilities 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 350.00 4,200.00

Administrative Fee 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 840.00

TOTAL 7,800.00 7,800.00 7,800.00 7,800.00 7,800.00 7,800.00 7,800.00 8,240.00 8,240.00 8,240.00 8,240.00 8,240.00 95,800.00

EXPENSES - OPERATING EXPENSES

Postage 0.00 0.00 12.00 0.00 12.00 12.00 0.00 0.00 0.00 0.00 0.00 0.00 36.00

Licenses/Permits/Inspections 0.00 0.00 0.00 0.00 0.00 205.00 0.00 150.00 0.00 0.00 0.00 50.00 405.00

Water/Sewer Utilities 166.66 166.66 166.66 166.66 166.66 166.66 166.66 166.66 166.66 166.66 166.66 166.66 1,999.92

HVAC Repairs 0.00 0.00 0.00 0.00 0.00 0.00 900.00 0.00 0.00 0.00 0.00 0.00 900.00

Insurance 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1,823.00 0.00 0.00 0.00 0.00 1,823.00

Legal & Professional Services 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 62.00 0.00 62.00

Property Tax Expense 0.00 0.00 0.00 8,638.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 8,638.00

Gas/Electricity Utilities 155.00 155.00 155.00 155.00 155.00 155.00 155.00 155.00 155.00 155.00 155.00 155.00 1,860.00

Trash/Recycling Utilities 122.00 122.00 122.00 122.00 122.00 122.00 122.00 122.00 122.00 122.00 122.00 122.00 1,464.00

Security Deposit Interest 0.00 0.00 0.00 0.00 31.62 10.00 0.00 0.00 0.00 0.00 0.00 0.00 41.62

Repairs & Maintenance 175.00 175.00 175.00 175.00 175.00 175.00 175.00 175.00 175.00 175.00 175.00 175.00 2,100.00

Management Fees - Hill 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00

Exterior Grounds Maintenance 165.00 165.00 165.00 165.00 165.00 165.00 165.00 165.00 165.00 165.00 165.00 165.00 1,980.00

Hill Pass Through 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 70.00 840.00

TOTAL 853.66 853.66 865.66 9,491.66 897.28 1,080.66 1,753.66 2,826.66 853.66 853.66 915.66 903.66 22,149.54

NET OPERATING INCOME 6,946.34 6,946.34 6,934.34 -1,691.66 6,902.72 6,719.34 6,046.34 5,413.34 7,386.34 7,386.34 7,324.34 7,336.34 73,650.46

COMBINED CASH FLOW 12-MONTH STATEMENT

OFFERING MEMORANDUM

1845 17th Street | Boulder, CO 80302

TODD WALSH, CCIM303 444 5040 Todd@WeAreMarket.com

HEIDI SCHAMBER303 444 4344 Heidi@WeAreMarket.com WeAreMarket.com

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MARKET OVERVIEW

The Kitchen 0.6 miles

Oak 0.3 miles

Bramble & Hare 0.4 miles

Arcana 0.6 mile

The West End Tavern 0.6 miles

Lucky’s Market 2.6 miles

Beleza Coffee 0.9 miles

Whole Foods 1 mile

Via Perla 0.7 miles

Bar Taco 0.6 miles

The Med 0.5 mile

St. Julian 0.5 miles

Santo 1 mile

Campus Copies CU 1.2 miles

Naropa 0.5 miles

Dakota Ridge Trail 24.7 miles

Mount Sanitas Trailhead 2.1 miles

Flagstaff Trailhead 2.8 miles

Boulder Canyon Trail 2.3 miles

Chautauqua Park 1.6 miles

Panorama Point 2.2 miles

Lions Lair 3.1 miles

Enchanted Mesa Trailhead 1.8 miles

LISTS OF NEARBY RESTAURANTS AND HIKING TRAILS

* Manufacturing facility opening soon.

CLICK FORAERIAL TOUR

CLICK HEREFor Aerial Video

BROADWAY

1845 17TH STREET

ARCANA THE KICHEN

WHOLE FOODS MARKET BELEZA COFFEE BAR

BRAMBLE AND HARE

THE WEST END TAVERN 17TH

UNIVERSITY AVE

BROADWAY

BROADW

AY