$1,290,000 For Sale by Ow For Sale

I currently own 13 income properties in central Boulder but I only have 1 that is for sale. That is due to a unique tax shelter where I own this duplex in my Roth IRA account. Because I can treat improvements to this rental property as contributions to my IRA, it is best to fix and flip it so I can go on to a bigger project and put more into my IRA.Combining this tax break with my 15 years of experience in remodeling student rentals has created a great opportunity to buy a well designed, totally renovated downtown cash cow with no deferred maintenance. This is the rare Boulder rental that is completely turnkey and set for autopilot for years to come.1603 ARAPAHOE AVE. - 7 BR 4 BATH DUPLEX - 4 blocks to CU and Pearl St. & Pre-leased through August 2015.Duplex is 2 freestanding houses, not an over/ under! Also, no basement living space! All finished sq. footage is above grade.All 7 bedrooms are big, you know how most Boulder rentals have 1 or 2 bedrooms that are the size of a closet? Not this one..and the GRM is 16.1 which is right on par with the other 3 income property listings in Boulder right now. Except those have not been renovated and they are not located downtown.Here are some numbersSales Price $1,290,000Total Monthly Income- $6650 - (rented through August 2015)GRM 16.1Cap Rate 5.15Cash Flow Analysis with 75% LTV mortgage:25% down = $322,50075% mortgage = $967,500property taxes = $4334/ yr or $361/ monthinsurance = $1200/ yr or $100/ month30 yr