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Sep 21, 2015 7:06 EST

Purchase near University of Denver: 2329 S. High Street, Denver, Colorado

iCrowdNewswire - Sep 21, 2015

Purchase near University of Denver

Investment Summary

This is a prefunded purchase only opportunity for a Single Family Residential property in Colorado. The subject property address is 2329 S. High Street, Denver, Colorado.

The developer is requesting a loan of $436,500 in order to purchase the underlying property. The property was purchased for a total of $582,000 in September of 2015. The borrower will rent out the property for student housing. The borrower also owns the property next door, and the long-term plans are to develop newly-constructed student apartments. This will be done after refinancing out of this loan. The borrower plans to refinance within 18 months.

2329 S. High Street

  • Purchase Price: $582,000
  • As-Is Value: $625,000

An independent third party BPO commissioned by Patch of Land, shows an As-Is Value of $625,000 for 2329 S. High Street.. The LTV ratio is 69.84% and is in line with the data we found during our due diligence process. Our research shows the residential market surrounding the underlying property in this area of Denver is strong.

Property Overview

2329 S. High Street was built in 1927, located in the metropolitan neighborhood of Denver, Colorado. The property has 5 rooms including 2 bedrooms and 1 bathrooms, with a gross living area of 1,395 sq. ft. on a 6,098 sq. ft. lot. The property is a block away from the University of Denver campus, and a short walk from local restaurants, banks, office buildings, parks, and recreational centers.

 

Renovation

2329 S. High Street

There is no renovation needed for the property.

Contact Information:

2770 South Garfield 15, LLC

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