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Multifamily

2044 27th Avenue Court

2044 27th Avenue Court, Greeley, CO 80634

Listing Price: $2,000,000

Cap Rate
4.96%
Number of Units
9
Occupancy
96.0%
Price/Unit
$222,222
Price/Gross SF
$211.01
Gross SF
9,478

Investment Overview

2044 27th Avenue Court is a nine-unit multifamily community that includes seven townhome-style units and an adjacent duplex. It is located on a quiet cul-de-sac in Greeley, a rapidly growing area of northern Colorado. Built in 1982, the property offers a diverse unit mix of studio, one-, two-, and three-bedroom units. All units are individually metered for gas and electric and include in-unit laundry with washer and dryer hookups and on-site parking spots. The property is low maintenance and well-kept with brick exterior buildings with pitched roofs and minimal landscaping. Property has plenty of off-street parking as well as two one-car garage spaces which could produce additional income. The property’s location is within walking distance to the retail hub of Westlake Village Shopping Center and to Meeker Elementary and Greeley West High School. The popular Sanborn Park is just across the street, providing tenants access to walking and biking trails, recreational sport sites, fishing and mountain top sunsets. There is an immediate opportunity to increase bottom line income simply by raising rents to market, charging a market rate for garage parking and billing back tenants for water and sewer. There is also an incidental opportunity to update units and increase rents accordingly. In the last couple of years, multifamily properties in the immediate area have experienced extraordinary change spurred by ambitious investors, thus surrounding the property with similar well-maintained properties. This is an excellent opportunity to acquire a low-maintenance, high-income multifamily property in a truly up and coming market and still expect returns north of 6% with little upfront personal cost.

Investment Highlights

  • Strong Cash Flow Opportunity with 6% Proforma CAP Rate
  • Nine-Unit Townhome Community with Well-Balanced Unit Mix
  • Units Include In-Unit Washer & Dryer Hookups; Individually Metered for Gas & Electric
  • Opportunity to Improve Cash Flow by Raising Rents and Imposing Additional Income for Amenities
  • Excellent Location in Greeley; Walking Distance to Westlake Village Shopping Center, Sanborn and Centennial Parks, Meeker Elementary and Greeley West High School

Exclusively Listed By

Financing By

Multifamily

2044 27th Avenue Court

Listing Price: $2,000,000

Cap Rate
4.96%
Number of Units
9
Occupancy
96.0%
Price/Unit
$222,222
Price/Gross SF
$211.01
Gross SF
9,478

Investment Highlights

  • Strong Cash Flow Opportunity with 6% Proforma CAP Rate
  • Nine-Unit Townhome Community with Well-Balanced Unit Mix
  • Units Include In-Unit Washer & Dryer Hookups; Individually Metered for Gas & Electric
  • Opportunity to Improve Cash Flow by Raising Rents and Imposing Additional Income for Amenities
  • Excellent Location in Greeley; Walking Distance to Westlake Village Shopping Center, Sanborn and Centennial Parks, Meeker Elementary and Greeley West High School

Investment Overview

2044 27th Avenue Court is a nine-unit multifamily community that includes seven townhome-style units and an adjacent duplex. It is located on a quiet cul-de-sac in Greeley, a rapidly growing area of northern Colorado. Built in 1982, the property offers a diverse unit mix of studio, one-, two-, and three-bedroom units. All units are individually metered for gas and electric and include in-unit laundry with washer and dryer hookups and on-site parking spots. The property is low maintenance and well-kept with brick exterior buildings with pitched roofs and minimal landscaping. Property has plenty of off-street parking as well as two one-car garage spaces which could produce additional income. The property’s location is within walking distance to the retail hub of Westlake Village Shopping Center and to Meeker Elementary and Greeley West High School. The popular Sanborn Park is just across the street, providing tenants access to walking and biking trails, recreational sport sites, fishing and mountain top sunsets. There is an immediate opportunity to increase bottom line income simply by raising rents to market, charging a market rate for garage parking and billing back tenants for water and sewer. There is also an incidental opportunity to update units and increase rents accordingly. In the last couple of years, multifamily properties in the immediate area have experienced extraordinary change spurred by ambitious investors, thus surrounding the property with similar well-maintained properties. This is an excellent opportunity to acquire a low-maintenance, high-income multifamily property in a truly up and coming market and still expect returns north of 6% with little upfront personal cost.

Exclusively Listed By

Financing By

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