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Home My WebLink About20192856.tiffAugust 6, 2019 Petitioner: BURGER PATRICIA A TRUST 618 CHARLOTTE ST JOHNSTOWN, CO 80534-8614 CLERK TO THE BOARD PHONE (970) 400-4226 FAX (970) 336-7233 WEBSITE: www.weldctov.com 1150 O STREET P.O. BOX 758 GREELEY CO 80632 Agent (if applicable): RE: THE BOARD OF EQUALIZATION 2019, WELD COUNTY, COLORADO NOTICE OF DECISION Docket 2019-2856 Appeal 2008224616 Hearing 8/5/2019 Dear Petitioner: On the day indicated above, the Board of County Commissioners of Weld County Colorado convened and acting as the Board of Equalization, pursuant to C.R.S. §39-8-101 et seq., considered petition for appeal of the Weld County Assessor's valuation of your property described above, for the year 2019. Account # Decision The Assessment and valuation is set as follows: Actual Value as Actual Value as Set by Determined by Assessor Board R4488986 Stipulated - Approved Stipulated Value $334,620 $293,376 A denial of a petition, in whole or in part, by the Board of Equalization must be appealed within thirty (30) days of the date the denial is mailed to you. You must select only one of the following three (3) options for appeal: 1. Appeal to Board of Assessment Appeals: You have the right to appeal the County Board of Equalization's decision to the Colorado Board of Assessment Appeals. A hearing before that Board will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the Board of Assessment Appeals is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(2), only the record of proceedings from your hearing before the Board of Assessment Appeals and your legal brief are filed with the appellate court. All appeals to the Board of Assessment Appeals filed after August 10, 2019, MUST comply with the following provisions of C.R.S. §39-8-107(5): (5)(a)(I) On and after August 10, 2019, in addition to any other requirements under law, any petitioner appealing either a valuation of rent -producing commercial real property to the Board of Assessment Appeals pursuant to C.R.S. §39-8-108(1) or a denial of an abatement of taxes pursuant to C.R.S. §39-10-114 shall provide to the County Board of Equalization or to the Board of County Commissioners of the County in the case of an abatement, and not to the Board of Assessment Appeals, the following information, if applicable: (A) Actual annual rental income for two full years including the base year for the relevant property tax year; (B) Tenant reimbursements for two full years including the base year for the relevant property tax year; (C) Itemized expenses for two full years including the base year for the relevant property tax year; and (D) Rent roll data, including the name of any tenants, the address, unit, or suite number of the subject property, lease start and end dates, option terms, base rent, square footage leased, and vacant space for two full years including the base year for the relevant property tax year. (II) The petitioner shall provide the information required by subparagraph (I) of this paragraph (a) within ninety days after the appeal has been filed with the Board of Assessment Appeals. (b)(I) The Assessor, the County Board of Equalization, or the Board of County Commissioners of the County, as applicable, shall, upon request made by the petitioner, provide to a petitioner who has filed an appeal with the Board of Assessment Appeals not more than ninety days after receipt of the petitioner's request, the following information: (A) All of the underlying data used by the county in calculating the value of the subject property that is being appealed, including the capitalization rate for such property; and (B) The names of any commercially available and copyrighted publications used in calculating the value of the subject property. (II) The party providing the information to the petitioner pursuant to subparagraph (I) of this paragraph (b) shall redact all confidential information contained therein. (c) If a petitioner fails to provide the information required by subparagraph (I) of paragraph (a) of this subsection (5) by the deadline specified in subparagraph (II) of said paragraph (a), the County may move the Board of Assessment Appeals to compel disclosure and to issue appropriate sanctions for noncompliance with such order. The motion may be made directly by the County Attorney and shall be accompanied by a certification that the County Assessor or the County Board of Equalization has in good faith conferred or attempted to confer with such petitioner in an effort to obtain the information without action by the Board of Assessment Appeals. If an order compelling disclosure is issued under this paragraph (c) and the petitioner fails to comply with such order, the Board of Assessment Appeals may make such orders in regard to the noncompliance as are just and reasonable under the circumstances, including an order dismissing the action or the entry of a judgment by default against the petitioner. Interest due the taxpayer shall cease to accrue as of the date the order compelling disclosure is issued, and the accrual of interest shall resume as of the date the contested information has been provided by the taxpayer. Appeals to the Board of Assessment Appeals must be made on forms furnished by that Board, and must be mailed or delivered within thirty (30) days of the date the denial by the Board of Equalization is mailed to you. The address and telephone number of the Board of Assessment Appeals are: Board of Assessment Appeals 1313 Sherman Street, Room 315 Denver, Colorado 80203 Telephone Number: (303) 864-7710 Email: baa@state.co.us. Fees for Appeal to the Board of Assessment Appeals: A taxpayer representing himself is not charged for the first two (2) appeals to the Board of Assessment Appeals. A taxpayer represented by an attorney or agent must pay a fee of $101.25 per appeal. OR 2. Appeal to District Court: You have the right to appeal the decision of the Board of Equalization to the District Court of the county wherein your property is located: in this case that is Weld County District Court. A hearing before The District Court will be the last time you may present testimony or exhibits or other evidence, or call witnesses in support of your valuation. If the decision of the District Court is further appealed to the Court of Appeals pursuant to C.R.S. §39-8-108(1), the rules of Colorado appellate review and C.R.S. §24-4-106(9), govern the process. OR 3. Binding Arbitration: You have the right to submit your case to binding arbitration. If you choose this option, the arbitrator's decision is final and you have no further right to appeal your current valuation. C.R.S. §39-8-108.5 governs this process. The arbitration process involves the following: a. Select an Arbitrator: You must notify the Board of Equalization that you will pursue arbitration. You and the Board of Equalization will select an arbitrator from the official list of qualified people. If you cannot agree on an arbitrator, the District Court of the county in which the property is located (i.e. Weld) will select the arbitrator. b. Arbitration Hearing Procedure: Arbitration hearings are held within sixty (60) days from the date the arbitrator is selected, and are set by the arbitrator. Both you and the Board of Equalization are entitled to participate in the hearing. The hearing is informal. The arbitrator has the authority to issue subpoenas for witnesses, books, records documents and other evidence pertaining to the value of the property. The arbitrator also has the authority to administer oaths, and determine all questions of law and fact presented to him. The arbitration hearing may be confidential and closed to the public if you and the Board of Equalization agree. The arbitrator's decision must be delivered personally or by registered mail within ten (10) days of the arbitration hearing. c. Fees and Expenses: The arbitrator's fees and expenses are agreed upon by you and the Board of Equalization. In the case of residential real property, the fess may not exceed $150.00 per case. For cases other than residential real property, the arbitrator's total fees and expenses are agreed to by you and Board of Equalization, but are paid by the parties as ordered by the arbitrator. If you have questions concerning the above information, please call me at (970) 400-4226. Very truly yours, BOARD OF EQUALIZATION Esther E. Gesick Clerk to the Board Weld County Board of Commissioners and Board of Equalization cc: Brenda Dones, Weld County Assessor COUNTY BOARD OF EQUALIZATION WELD COUNTY Single County Schedule Number R4488986 STIPULATION (As To Tax Year 2019 Actual Value) RE PETITION OF NAME: BURGER PATRICIA A TRUST ADDRESS: 618 CHARLOTTE ST JOHNSTOWN, CO 80534-8614 Petitioner (s) and the Weld County Assessor hereby enter into this Stipulation regarding the tax year 2019 valuation of the subject property, and jointly move the Board of Equalization to enter its order based on this Stipulation. Petitioner (s) and Assessor agree and stipulate as follows: 1. The property subject to this Stipulation is described as: JOH 21757 L7 BLK2 GREAT WESTERN 2. The subject property is classified as Commercial property. 3. The County Assessor originally assigned the following actual value to the subject property for the tax year 2019 : Total $334,620 4. After further review and negotiation, Petitioner (s) and Weld County Assessor agree to the following tax year2019 actual value for the subject property: Total $293,376 5. The valuation, as established above, shall be binding only with respect to tax year2019 6. Brief narrative as to why the reduction was made: Further review of all approaches to value indicated an adjustment. 7. Both parties agree that: The hearing scheduled before the Board of Equalization on 08/01/2019 at 1:30 PM be vacated. PI A hearing has not yet been scheduled before the Board of Equalization. 1 QQ i ci - agsG ASO(03 DATED this 24th penny agul/ar t)nnn,/ i?tiil.1r '•i' ?F 'gin day of July Petitioner(s) or Agent or Attorney Address: 618 Charlotte Street Johnstown. CO 80534 Telephone: 9703712425 Docket Number R4488986 Stip-1 .Frm 2019 yr r771:th-( (Assistant) County Attorney for Respondent. Weld County Board of Commissioners Address: 1150 "O" Street P.O. Box 758 Greeley, CO 80632 Telephone:(970) 336-7235 raRnancit.7211th County Assessor Address: 1400 N.17th Avenue Greeley, CO 80631 Telephone: (970) 400-3650 R4488986/Burger Final Audit Report 2019-07-26 Created: 2019-07-24 By: Courtney Anaya (canaya@co.weld.co.us) Status: Signed Transaction ID: CBJCHBCAABAAcEoVutu6w6k48TJRSgYYBfQIWKgMOaWB "R4488986/Burger" History fi Document created by Courtney Anaya (canaya@co.weld.co.us) 2019-07-24 - 10:12:06 PM GMT- IP address: 204.133.39.9 Document emailed to Courtney Anaya (canaya@co.weld.co.us) for approval 2019-07-24 - 10:12:07 PM GMT Oro Document approved by Courtney Anaya (canaya@co.weld.co.us) Approval Date: 2019-07-24 - 10:13:16 PM GMT - Time Source: server- IP address: 204.133.39.9 E, Document emailed to Tim Reddick (treddick@weldgov.com) for approval 2019-07-24 - 10:13:18 PM GMT �y Email viewed by Tim Reddick (treddick@weldgov.com) 2019-07-24 - 10:16:42 PM GMT- IP address: 204.133.39.9 by Document approved by Tim Reddick (treddick@weldgov.com) Approval Date: 2019-07-24 - 10:34:09 PM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to Brenda Dones (bdones@co.weld.co.us) for signature 2019-07-24 - 10:34:10 PM GMT Email viewed by Brenda Dones (bdones@co.weld.co.us) 2019-07-25 - 0:24:17 AM GMT- IP address: 204.133.39.9 Document e -signed by Brenda Dones (bdones@co.weld.co.us) Signature Date: 2019-07-25 - 0:25:40 AM GMT - Time Source: server- IP address: 204.133.39.9 Document emailed to penny aguilar (jessica_sanchez@ymail.00m) for signature 2019-07-25 - 0:25:42 AM GMT Email viewed by penny aguilar (jessica_sanchez@ymail.com) 2019-07-25 - 0:52:07 AM GMT- IP address: 69.147.89.254 Adobe Sign i Co Document e -signed by penny aguilar (jessica_sanchez@ymail.com) Signature Date: 2019-07-26 - 3:59:39 PM GMT - Time Source: server- IP address: 97.122.203.167 Document emailed to Karin McDougal (weld-cboe@weldgov.com) for signature 2019-07-26 - 3:59:41 PM GMT ti Email viewed by Karin McDougal (weld-cboe@weldgov.com) 2019-07-26 - 4:02:09 PM GMT- IP address: 204.133.39.9 C© Document e -signed by Karin McDougal (weld-cboe@weldgov.com) Signature Date: 2019-07-26 - 4:02:25 PM GMT - Time Source: server- IP address: 204.133.39.9 Q Signed document emailed to canaya@weldgov.com, Karin McDougal (weld-cboe@weldgov.com), Brenda Dones (bdones@co.weld.co.us). Courtney Anaya (canaya@co.weld.co.us), and 2 more 2019-07-26 - 4:02:25 PM GMT Ante Adobe Sign Thank you for submitting an appeal to the Weld County Board of Equalization. We will review the information submitted and you will receive a date to appear before the board. Contact Information: Contact Name: Penny Aguilar Contact Email: pennyea@msn.com Contact Phone: 970-371-2425 Appeal Submitted: 02:50 PM July 12, 2019 Appeal submitted for: R4488986 - BURGER PATRICIA A TRUST 3 S PARISH AVE, JOHNSTOWN Legal: JOH 21757 L7 BLK2 GREAT WESTERN Reason: Value Too High - By using a comparison approach and income approach, this property is valued between S214,000 and S225,700 ($219,850 is the average between the two numbers). Monthly rent is S1,850 and average monthly expenses are $1,026. The assessor's determination of value is too high. Estimate of Value: $219,850.00 Document(s) Submitted: Account: All Accounts - Trust pages 1, 2, 17, 18.pdf Account: R4488986 - Comps for 3 S. Parish Ave.pdf Account: All Accounts - Quick Analysis Worksheet Income.xls Account: All Accounts - Sales Comparison Analysis.xls Account: All Accounts - 2017.2018 Income.Expenses 3 S Parish Ave.docx You have selected the following Date Preferences: Thursday, August 1, 2019, from 9:00 a.m. to 12:00 p.m. Thursday, August 1, 2019, from 1:30 p.m. to 3:30 p.m. Friday, August 2, 2019, from 9:00 a.m. to 12:00 p.m. Friday, August 2, 2019, from 1:30 p.m. to 4:30 p.m. Monday, August 5, 2019, from 10:30 a.m. to 12:00 p.m. The Appeal process can take several weeks for us to complete. You will receive a written decision on your appeal within five (5) working days of your hearing. We thank you for your submittal. Weld County Board of Equalization 2019-2856 ASOt°3 TRUST AGREEMENT OF THE PATRICIA A. BURGER TRUST This agreement is made on April 19, 2017 by and between PATRICIA A. BURGER as senior, and PENNY EVA AGUILAR and JESSICA SANCHEZ as trustee, with respect to the initial trust estate, described in Schedule A, which settlor transfers to trustee and which trustee accepts and agrees to hold, together with any future additions to the trust which are acceptable to trustee. The name of the trust is the Patricia A. Burger Trust. ARTICLE 1- FAMILY INFORMATION Senior is not married. Settlor's children now living are PENNY EVA AGUILAR, born April 20, 1961, and JENNIFER KATHARINE BRIGGS, born October 7, 1971. References in this agreement to settlor's children are to such children. Any references in this agreement to settlor's descendants are to such children and their descendants. ARTICLE 2 - SETTLOR'S RIGHTS IN THE TRUST 2.1 DISTRIBUTIONS AS SETTLOR DIRECTS: During settlor's lifetime, trustee shall dispose of the net income and principal of the trust in such mater as senior may direct from time to time. Unless otherwise directed by settlor, the net income shall be paid to settlor no less frequently than quarter -annually. 2.2 DISTRIBUTIONS TO SETTLOR DURING DISABILITY: During any period when in the opinion of settlor's personal physician or pursuant to a court determination settlor is incompetent, incapacitated, or disabled due to illness, age, or other cause, with resulting inability to manage property and financial affairs effectively, trustee shall apply for the benefit of senior so much of the net income and principal of the trust as trustee shall determine. 2.3 TRUST ADDITIONS AND REMOVALS: Settlor reserves the power to add to the trust estate at any time by delivering to the trust additional property which is acceptable to trustee. Settlor 1 reserves the power to remove all or any part of the property from the trust at any time by notifying trustee of such removal in writing. 2.4 AMENDMENT AND REVOCATION: ettlor reserves for settlor's lifetime the following powers which settler may exercise at any time or times: a) To revoke the trust by a writing; b) Upon trustee's consent, to amend the trust, in whole or in part, by a writing; and c) To direct, by a memorandum which settler may leave at settler's death, distribution by trustee on senior's death of any of settler's tangible personal property, together with any insurance policies covering such property and claims under such policies. ARTICLE 3— BENEFITS PAYABLE TO TRUSTEE 3.1 SETTLOWS RIGHTS IN POLICIES: Settior reserves and may exercise without the consent or approval of trustee or any beneficiary, all the rights, powers,options and privileges which could be exercised by an absolute owner under the terms of any instrument governing the payment of benefits directly to trustee, were such property not assigned to the trust, or were trustee not designated the beneficiary thereunder. Trustee shall deliver all life insurance policies, or other instruments evidencing trustee's right to receive benefits, which are deposited with it under this agreement, on settler's written request. Trustee shall have no duty to see that a withdrawn instrument is returned to its custody. 3.2 PREMIUMS AND SAFEKEEPING OF POLICIES: Trustee shall be under no obligation to see that premiums, assessments, or other sums due under such instruments are paid, or to pay the same, and shall be under no obligation with respect to the instruments deposited with trustee other than for their safekeeping, except to the extent expressly provided in this agreement. Nothing in this agreement shall be deemed to impose any obligation on senior to maintain any or all of such instruments in force. 3.3 OLLE TION OF PROCEEDS: On the death of the insured under any policy payable to the trust, or in the event any other types of benefits become payable to the trust, trustee shall make a reasonable effort to collect all such sums, and in the discretion of trustee, may exercise any of the 2 11.12 TRUSTEE DEFINITION: As used throughout this agreement, the word "trustee" shall always refer to the original trustee as well as to any successor, replacement or additional person, corporation or other entity from time to time serving, whether in fact there shall be one or more trustees serving from time to time. 11.13 COUNTERPARTS: This agreement may be executed in counterparts and each such counterpart shall constitute one and the same agreement. 11.14 SEVERABILITY: If any part of this agreement shall be adjudicated to be void or invalid, the remaining provisions not specifically so adjudicated shall remain in full force and effect. SIGNED by me effective the day and year first above written. eeztreefrak jytercevA PATRICIA A. BURGER, Settler 1• c rt JE * ICA SANCHEZ, Trustee STATE OF COLORADO ss. COUNTY OF WELD It t LatiL÷ kiciS4-e PENNY-EVA AGU AR, Trustee The foregoing trust agreement was acknowledged before me by PATRICIA A. BURGER, as senior, on Ain y J`� ,20/7. Witness my hand and official seal. My commission expires A' tee, .1 AtHPLAS PUS C STATE OF COLORADO NOTARY ID 2044009596 EXPIRES MY COMMISSION Eic • STATE OF COLORADO 55. COUNTY OF WELD The foregoing trust agreement was acknowledged before me by PENN'S EVA AGUILAR, as trustee, on ...,_ ,. Witness my hand and official seal, My commission expires ,fob Let NICHOLAS J. MORRIS E OF COLORADO NO ARY ID 2044009596 MY COMMISSION EXPIRESOCTOBER 28 2018 STATE OF COLORADO COUNTY OF WELD 1 ss. The foregoing trust a reement was ackno ledged before me by JENNIFER I T .RINE BRIGGS, as trustee, on Witness my hand and official seal. My commission expires -4 e. ------------- [SgWRY PUS SCOLORADO RRIS NOTARY ID 2044009596 L COMMISSION EXPIRES OCTOBER 28 201 s I 1 Per Page - Listing Report https://www.iresis.com/MLS/awalreports/listing?reportName=One per Page Lot SqFt: 8,000 Elec: Gas: PIN: Approx. Acres: 0.18 Water Johnstown Zoning: Commercial Available Date: 04/0512017 Min/Max Vacant: Total Bldg SqFt: 3600 Total SqFt Leased: Min SqFt Avail: Floor Levels: Max SqFt Avail: Potential Rental Income: Less Vacancy Rate: Effective Rental Income: Other Income: Gross Operating Income: Property Taxes: Tax Year: Total Operating Expense: Net Operating Income: 0% $1,815 2016 $1,815 $-1,815 Cap Rate: -1.21 Gross Rent Mult.: 0 IRES MLS # : 815880 PRICE: $150,000 27 N Parish Ave, Johnstown 80534 SALE: COMMERCIAL/INDUSTRIAL / LAND SOLD Locale: Johnstown County: Weld Area/SubArea: 10/30 Subdivision: Johnstown comm Legal: JOH 21389 PT SW4 4 4 67 BEG 850'N & 33'E OF SW COR SEC N64' E125' $64' W125" TO BEG Built: 1908 New Const: No New Const Notes: SqFt Source: Assessor records Listing Comments: Former car shop,building right on N Parish Ave in Johnstown's downtown. Most likely a demolition project, priced as such. Highly visible, high traffic downtown street location. Next to a brand new brewery. Sold Date: 02/05/2018 Terms: CASH Down Pmt Assist: N Concession Type: None SA: Kevin Shaw 303-946-7358 SO: Keller Williams -Preferred Rlty 303-452-3300 Sold Price: $135,000 DOM: 307 DTO: 196 DTS: 307 Property Features Construction: Brick/Brick Veneer Roof: Composition Roof Commercial/Industrial Type: Incorporated Area Location Description: Level Lot Fences: Partially Fenced Lot Improvements: Street Paved, Curbs, Sidewalks, Street Light, Fire Hydrant within 500 Feet Road Access: City Street Railroad Access: Railroad Adjacent Basement/Foundation: No Basement Heating: No Heat Cooling: No Cooling Inclusions: No Inclusions Utilities: Electric Water/Sewer: City Water, City Sewer Ownership: Private Owner Occupied By: Vacant not for Rent Possession: Specific Date Tenant Pays: Nothing Flood Plain: Minimal Risk Existing Lease: Not Leased Sale Includes: Building(s), Land Possible Usage: Business, Commercial or Industrial New Financing/Lending: Cash Showing Instructions: Call Listor r LA: Edite Liepina-Lawrence Phone: 303-909-5742 Email: edite@kw.com Fax: 303-350-1448 LO: Keller Williams 1st Realty Broker Phone: 303-776-3200 TB: 3.00 BA: 3.00 Buyer Excl: No Contract: R For Showings: LA: (303)909-5742 Min EM: $5,000 EM Recip: Colorado Escrow and Title Lim Service: N Prepared By: Jason Grentz - Jul 10, 2019 5:09:52 PM Information deemed reliable but not guaranteed. MLS content and images Copyright 1995-2019, IRES LLC. All rights reserved. 1 of 4 7/10/2019, 5:10 PM 1 Per Page - Listing Report https://www.iresis.corn/liALS/awa/reports/listing?reportName=Once per Page Lot SqFt: 2,178 Elec: Xcel Gas: Xcel PIN: Approx. Acres: 0.05 Water Johnstown Zoning: Commercial Available Date: 09/03/2014 Min/Max Vacant: 1 Total Bldg SqFt: 1976 Total SqFt Leased: 0 Min SqFt Avail: 1976 Floor Levels: 1 Max SqFt Avail: 1976 Potential Rental Income: Less Vacancy Rate: 0% Effective Rental Income: Gross Operating Income: Property Taxes: Tax Year: Total Operating Expense: Net Operating Income: Cap Rate: -1.81 Gross Rent Mult.: 0 $2,989.20 2013 $2,989.20 $-2,989.20 IRES MLS # : 746240 PRICE: $165,000 5 N Parish Ave, Johnstown 80534 SALE: COMMERCIAL/INDUSTRIAL SOLD Locale: Johnstown County: Weld Area/SubArea: 10/30 Subdivision: Johnstown Legal: JOH 21751-A PT SW4SW4 4 4 07 BEG 69'6 INCH E OF SE COR L1 BLK2 N25' TO TRUE BEG E80' N25' W80' S25' TO ROB 5 N PARISH AV JOHNSTOWN N STOWN 00000 Website: https://www.iresis.com/go/mis/746240 Built: 1919 New Const: No New Const Notes: SqFt Source: Assessor records Listing Comments: Price adjustment to $165,000. Located in historic Johnstown this 1976SF retail/office has several offices and 2 bathrooms. Sold Date: 07/18/2017 Terms: CONV FIX Down Pmt Assist: N Concession Type: None SA: Bill Hall 970-356-0505 SO: Stoll Realty 970-356-7931 Sold Price: $165,700 DOM: 1055 DTO: 1030 DTS: 1055 Property Features Construction: Wood/Frame, Brick/Brick Veneer Roof: Flat Roof Commercial/industrial Type: Office, Retail -Freestanding Location Description: Level Lot Views: City View Lot Improvements: Street Paved, Curbs, Gutters, Sidewalks, Street Light, Alley Road Access: City Street Basement/Foundation: Partial Basement Heating: Forced Air Cooling: Refrigeration/HVAC Inclusions: No Inclusions Disabled Accessibility: Level Lot Utilities: Natural Gas, Electric Water/Sewer: City Water, City Sewer Ownership: Private Owner Occupied By: Vacant not for Rent Possession: Specific Date Tenant Pays: Nothing Flood Plain: Minimal Risk Existing Lease: Not Leased Sale Includes: Building(s), Land New Financing/Lending: Cash, Conventional Showing Instructions: Lockbox, Call First, Then Go, Vacant, Appointment Only LA: Mary Jo Brockshus Phone: 970-506-2977 Email: mjb@remax.net Fax: 970-330-5100 LO: RE/MAX Alliance -Greeley Broker Phone: 970-330-5000 TB: 3.00 BA: 3.00 Buyer Excl: No Contract: T For Showings: LA: (970)506-2977 Min EM: $2,000 EM Recip: RE/MAX Alliance Lim Service: N Prepared By: Jason Grentz - Jul 10, 2019 5:09:52 PM Information deemed reliable but not guaranteed. MLS content and images Copyright 1995-2019, IRES LLC. All rights reserved. 2 of 4 7/10/2019, 5:10 PM 1 Per Page - Listing Report https://w w.iresis.corn/MLSiawa/reports/listing?roportName=One per Page Lot SqFt: 1,625 Approx. Acres: 0.04 Elec: Excel Water: Town of Johnstown Gas: Excel PIN: Zoning: Corn Available Date: 01/20/2017 Min/Max Vacant: Total Bldg SqFt: 1872 Total SqFt Leased: Min SqFt Avail: Floor Levels: Max SqFt Avail: Potential Rental Income: Less Vacancy Rate: Effective Rental Income: Gross Operating Income: Property Taxes: Tax Year: Building Insurance: Utilities: Total Operating Expense: Net Operating Income: $10,800 5% $10,260 $10,260 $1,162 2015 $1,200 $2,362 $7,898 Cap Rate: 4.51 Gross Rent Mult.: 17.06 IRES MLS # : 809828 PRICE: $175,000 ($93.50/SgFt) 118 W Charlotte St, Johnstown 80534 SALE: COMMERCIAL/INDUSTRIAL / INC Locale: Johnstown County: Weld Area/SubArea: 10/30 Subdivision: Johnstown Town Legal: JOH 21547 W 65; L19 BLK1 SOLD Built: 1918 New Const: No New Const Notes: SqFt Source: CoListing Agent: Max Shilof 970-692-0096 CoListing Office:Northern Colorado Real Estate 970-587-2220 Listing Comments: Great property for larger office with multiple office spaces available. Great location in downtown Johnstown. End unit with convienent parking. Broker Remarks: Please contact listing broker with any questions 970.412.0031 Sold Date: 03/08/2017 Terms: CASH Down Pmt Assist: N Concession Type: None SA: Laura Thomas 970-290-7544 SO: Group Loveland 970-663-0700 Sold Price: $167,000 DOM: 48 DTO: 21 DTS: 48 Property Features Construction: Wood/Frame, Brick/Brick Veneer Roof: Flat Roof Commercial/Industrial Type: Office, Retail -Freestanding Location Description: Corner Lot Views: City View Lot Improvements: Street Paved, Curbs, Gutters, Sidewalks, Street Light, Alley, Fire Hydrant within 500 Feet Road Access: City Street Road Surface At Property Line: Blacktop Road Heating: Hot Water Cooling: Refrigeration/HVAC Utilities: Natural Gas, Electric Water/Sewer: City Water Ownership: Private Owner Occupied By: Vacant not for Rent Possession: Specific Date Tenant Pays: Deposit, Gas, Electric Flood Plain: Minimal Risk Existing Lease: Not Leased Possible Usage: Business, Commercial or Industrial New Financing/Lending: Cash, Conventional LA: Kyle Clark Phone: 970-587-2220 Email: kyle.clark326@gmail.com Fax: 970-587-2202 LO: Northern Colorado Real Estate Broker Phone: 970-587-2220 TB: 3.00 BA: 3.00 Buyer Excl: No Contract: R For Showings: CSS: (970)663-7469 Min EM: $2,000 EM Recip: North American Title Lim Service: N. Prepared By: Jason Grentz - Jul 10, 2019 5:09:52 PM Information deemed reliable but not guaranteed. MLS content and images Copyright 1995-2019, IRES LLC. All rights reserved. 3 of 4 7/10/2019, 5:10 PM 1 Per Page - Listing Report https://www.iresis.com/MLS/awalreports/listing?reportName=One per Page Lot SqFt: 3,500 Approx. Acres: 0.08 Elec: Xcel Water: Town of Johnstown Gas: Atmos Energy PIN: Zoning: Commercial Available Date: Min/Max Vacant: Total Bldg SqFt: 2900 Total SqFt Leased: Min SqFt Avail: Floor Levels: Max SqFt Avail: Potential Rental Income: Less Vacancy Rate: Effective Rental Income: Gross Operating Income: Property Taxes: Tax Year: Total Operating Expense: Net Operating Income: $1,800 0% $1,800 $1,800 $1,536 $1,536 $264 Cap Rate: 0.12 Gross Rent Mult.: 122.22 IRES MLS # : 812560 PRICE: $220,000 20 S Parish Ave, Johnstown 80534 SALE: COMMERCIAL/INDUSTRIAL / INC SOLD Locale: Johnstown County: Weld Area/SubArea: 10/30 Subdivision: Johnstown Legal: JOH 21535 L9 BLK1 Built: 1908 New Const: No New Const Notes: SqFt Source: Assessor records Listing Comments: Great income property, or start your own business! Retail business location with store front on Parish Avenue - a high traffic area. Brick building with 2,900 sq. ft. on main level, and a partial unfinished basement for storage (not included in square footage). Commercial property in front of building with 2 separate bathrooms, and a 2 bed/I bath residential unit in back. Both are being rented out on a month to month basis. 3 included parking spaces in the back alleyway. Broker Remarks: 24 hour notice required for all showings. Tenants would like to stay, and are currently renting the residential side for $680/month, and the business side for $925/month. Building has been a plumbing store, auto parts store, billiards/pool tables store, thrift store, and is currently a Karate dojo. Hasn't been vacant for at least two decades. All appliances currently on the property are included. Seller also just replaced the water lines. Sold Date: 05/12/2017 Terms: CONV FIX Down Pmt Assist: N Concession Type: CC Points Paid/Seller: 0 Total Concession Amt: $1,000 SA: Seth Hanson SO: Group Harmony Sold Price: $205,000 DOM: 38 DTO: 38 DTS: 73 Points Paid/Buyer: 0 970-310-7498 970-229-0700 Property Features Construction: Brick/Brick Veneer, Wall: Brick, Ceiling: 8-10 Feet, Floor: Vinyl, Floor: Wood, Floor: Carpet Roof: Foam Roof Commercial/Industrial Type: Incorporated Area, Retail -Downtown Location Description: Level Lot Property Features: Storage on Site Lot Improvements: Street Paved, Curbs, Gutters, Sidewalks, Street Light, Alley, Fire Hydrant within 500 Feet Road Access: City Street Road Surface At Property Line: Blacktop Road Basement/Foundation: Partial Basement, Crawl Space Heating: Forced Air Cooling: Refrigeration/HVAC Inclusions: Kitchenette, Break Room Disabled Accessibility: Level Lot Utilities: Natural Gas, Electric, Cable TV Available, High Speed Avail Water/Sewer: City Water Ownership: Private Owner Occupied By: Tenant Occupied Possession: Tenant Will Vacate, Current Lease Agreement, See Remarks Tenant Pays: Deposit Gross Scheduled Income Includes: Lease/Rents Flood Plain: Minimal Risk Existing Lease: Month -to -Month Sale Includes: Building(s), Land, Leases Possible Usage: Commercial or Industrial New Financing/Lending: Cash, Conventional Showing Instructions: Appointment Only Exclusions - Tenants personal property and tenants business property. LA: Michelle Wilson Phone: 970-518-6640 Email: michelle@westernplainsre.com Fax: 970-663-5098 LO: Western Plains Realty Broker Phone: 970-663-5008 TB: 3.00 BA: 3.00 Buyer Excl: No Contract: R For Showings: CSS: (303)573-7469 Min EM: $3,000 EM Recip: First American Title Lim Service: N Prepared By: Jason Grentz - Jul 10, 2019 5:09:52 PM Information deemed reliable but not guaranteed. MLS content and images Copyright 1995-2019, IRES LLC. All rights reserved. 4 of 4 7/10/2019, 5:10 PM Opportunity Quick Analysis 1 Purchase Price 2 Gross Potential Rental Income 3 Vacancy & Credit Loss Factor Vacancy & Credit Loss Amount Vacancy & Credit Loss Used 4 Other Income (not affected by vacancy) 5 Effective Gross Income (EGI) 6 Total Operating Expenses O perating Ratio (Expenses As % of EGI) Expenses Being Used From Above 7 Net Operating Income (NOI) 8 Cap Rate 9 Value (based on cap rate) 10 11 6.00% $ OR $ Pro -Forma $ - $ Actual % Actual 21,450 0.00% $ What If... (1) 21,450.00 $ 12,313 57.40% $ 12,312.68 $ $ 9,137.32 $ 152,289 $ • What If... (2) 0 50.00% $ What If... (3) 0 $ $ 0 50.00% $ $ What If... (4) 0 $ 0 50.00% $ $ P rimary Financing Loan LTV Loan Amount Loan Amount Used Amortized or Interest -Only Interest Rate Term (years) Periods Per Year Monthly Payments Loan Constant °Io OR $ $ Fully Amortizing 7.00% 30 12 $0.00 $ Fully Amortizing 25 12 $0.00 $ Fully Amortizing 25 12 $0.00 $ Fully Amortizing 7.00% 30 12 $0.00 $ Fully Amortizing 7.00% 30 12 $0.00 $ Fully Amortizing 7.00% 30 12 $0.00 Secondary Financing Loan LTV Loan Amount Loan Amount Used Amortized or Interest -Only Interest Rate Term (years) Periods Per Year Monthly Payments Loan Constant 0/0 OR $ $ $ 0% 5 12 $0.00 0% 5 12 $0.00 0% $ 5 12 $0.00 0% $ 30 12 $0.00 0% $ 5 12 $0.00 0% $ 5 12 $0.00 12 CLTV 13 Annual Debt Service 14 Before -Tax Cashflow (After Debt Service) 15 Debt Service Coverage Ratio (DSCR) Down Payment 16 Closing Costs & Other Costs (%) Closing Costs & Other Costs ($) 17 Cash Back (Deferred Maintenance) N et Cash Out Of Pocket 18 Annual Cash -on -Cash (before taxes): Minus $ #DIV/0! 0.00 0.00 #DIV/0! 0 3.00% 0.00 0 0 #DIVI0! #DIV/0! 0.00 9,137.32 #DIV/0! 0 3.00% 0.00 0 0 #DIVI0! # DIV/0! 0.00 0.00 # DIVI0! 0 3.00% 0.00 0 0 # DIV/0! # DIV/0! 0.00 0.00 # DIV/0! 0 3.00% 0.00 0 0 # DIV/0! # DIV/0! 0.00 0.00 # DIV/0! 0 3.00% 0.00 0 0 # DIVI0! # DIV/0! 0.00 0.00 # DIV/0! 0 3.00% 0.00 0 0 # DIV/0! Copyright 2004 - 2007 4 George Antone - All rights reserved (rev 1.5 - 09.21.07) Down Payment Source Source 1 Source 2 Source 3 Source 4 Source 5 Rent Credits Defered Maintenance Buyer's Agent U ncle George U ncle David Total Down Payment 0 0 0 0 0 0 Licensed to ADG Holdings LLC - www.adgholdingsllc.com Licensed to Wealth Classes Inc - www.wealthclasses.com User assumes full responsibility for accuracy of all numbers. Competitive Market Analysis Competitive Market Analysis Adjustment ITEM SUAJECI Address Prmmay to Subleu Sales Nee PecelGross Lh Area $ VALUE ADJUSTMENTS DESCRIPTION Concessionsnmal Date of Sale Location. Neigh...ham sae sma Comma mem Desm a AEmel Oo5By et Cmsauc en COMPARABLE COMPARABLE 82 5 N. Parish Ave COMPARABLE 83 COMPARABLE 84 COMPARABLE 85 COMPARABLE 86 3 5. Pa r011 Ave 27 N. Parish Ave 118 W. Charlotte St 20 5. Parish Ave $135,000 $165,700 $167,000 $205,000 $37.50 DESCRIPTION 89.21 $70.69 DESCRIPTION #010/01 8010/01 - •I.I aAaluemem• DESCRIPTION - I-I$oal••,m.M• DESCRIPTION I • I -I saelustmem• DESCRIPTION . SIB SAaluemew• DESCRIPTION SAaluement• 2/5/18 7/18/17 3/8/17 5/12/17 Cendigon Amveorase Toss 1 Bebma I Bets Total I BeNms / Be Roam nt mss uo Plea SgFt EaSernentSprt Basement Peened S9. Ft Baserrentatas Functional WEN Dago,,/ Coding Energy EFcent Berm Enter factor Fere-1 Enter hem hem. esterlaeoche,.a 50 Tool I Balkan I Bathe Total / Bedrrs I Bata I l l I 3056 36001 -27,200 19761 54,000 18721 59,200 Total I Behms I Reels' 29001 7,800 Total / Redoes I Pets Total I Bedn5 / Beta E 152,800 152,800 0j 0 o_ 0 0 0 0 0 0 0 0 flreplaces landscapg5 Pomna Fence, SP, Pools, EN x momling. UPOanne, Net AN 8ow1 I I+ I I - -$27,200 I I+ L l- $54,000 [ I + I I - 559,200 I I - 30,800 $152,800 [ I + - $152,800 otcomparaNe ot�Snpo�taaa $107,800 $219,700 'iCC 'l _ „,, 5226,200 $212,800 $152,800 $152,800 ' If Comparable i superior to Subject, adjustment Is negative. If Corn/Amble Is Inferior to Subject, adjustment Is positive 2O18 Income/Expenses for 3 S Parish Avenue, Johnstown Property Rent Repair/Maintenance Supplies Utilities Trash Removal Property Taxes Property Insurance Total Expense Net Income 3 S Parish Ave $ 21,450.00 $ 806.98 $ - $ 5,915.34 $ - $ 4,005.36 $ 1,585.00 $ 12,312.68 $ 9,137.32 2O17 Income/Expenses for 3 S Parish Avenue, Johnstown Property Rent Repair/Maintenance * Supplies Utilities Trash Removal Property Taxes Property Insurance Total Expense Net Income 3 S Parish Ave $ 18,840.00 $ 13,398.08 $ 178.74 $ 6,176.86 $ - $ 3,851.74 $ 1,653.00 $ 25,258.42 $ (6,418.42) *$13,068.08 for major roof repairs Hello