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Multifamily

224 Seward Street

224 Seward Street, Lyons, CO 80540

Listing Price: $1,950,000

Cap Rate
6.01%
Number of Units
14
GRM
10.63
Occupancy
95.0%
Price/Unit
$139,286

Investment Overview

224 Seward Street is a 14-unit multifamily community located in a quiet neighborhood of Lyons, Colorado, walking distance to downtown, restaurants, shopping, and the elementary school.

Seward Street has six apartment units in a single building with a varying unit mix, as well as eight mobile homes, seven of which are park-owned. Each of these mobile homes are two-bedrooms and one-bathroom units. All utilities are master metered for the six apartment units and billed back to residents. All of the park owned mobile homes pay all utilities. Trash is paid by the owner and billed back to tenants. There are two water taps on the property. The apartment building's roof was recently replaced and windows are double-paned. Two of the mobile home units are under seven years old. Additionally, there are 14 off-street parking spots and six storage units.

Seward sits on 0.75 acres and is conveniently located in Boulder County, approximately 15 minutes west of Longmont, 25 minutes southeast of Estes Park, and 20 minutes north of Boulder. Lyons, Colorado has historically been a low vacancy rental market, vacant units in this community don’t last long.

Investment Highlights

  • Strong In-Place Cashflow, Stabilized Asset
  • Below Market Rent; 7%+ Proforma Cap Rate
  • High Demand Boulder County Rental Market
  • Diverse Unit Mix: Six Apartments, Eight Mobile Home
  • Two Water Taps; Great Future Redevelopment
  • Quiet Neighborhood in Lyons, CO
  • Close Proximity to Boulder, Longmont, & Estes Park

Exclusively Listed By

Financing By

Multifamily

224 Seward Street

Listing Price: $1,950,000

Cap Rate
6.01%
Number of Units
14
GRM
10.63
Occupancy
95.0%
Price/Unit
$139,286

Investment Highlights

  • Strong In-Place Cashflow, Stabilized Asset
  • Below Market Rent; 7%+ Proforma Cap Rate
  • High Demand Boulder County Rental Market
  • Diverse Unit Mix: Six Apartments, Eight Mobile Home
  • Two Water Taps; Great Future Redevelopment
  • Quiet Neighborhood in Lyons, CO
  • Close Proximity to Boulder, Longmont, & Estes Park

Investment Overview

224 Seward Street is a 14-unit multifamily community located in a quiet neighborhood of Lyons, Colorado, walking distance to downtown, restaurants, shopping, and the elementary school. Seward Street has six apartment units in a single building with a varying unit mix, as well as eight mobile homes, seven of which are park-owned. Each of these mobile homes are two-bedrooms and one-bathroom units. All utilities are master metered for the six apartment units and billed back to residents. All of the park owned mobile homes pay all utilities. Trash is paid by the owner and billed back to tenants. There are two water taps on the property. The apartment building's roof was recently replaced and windows are double-paned. Two of the mobile home units are under seven years old. Additionally, there are 14 off-street parking spots and six storage units. Seward sits on 0.75 acres and is conveniently located in Boulder County, approximately 15 minutes west of Longmont, 25 minutes southeast of Estes Park, and 20 minutes north of Boulder. Lyons, Colorado has historically been a low vacancy rental market, vacant units in this community don’t last long.

Exclusively Listed By

Financing By

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