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Multifamily

Smokey Trail Village

510 Smokey Trail Drive, Limon, CO 80828

Listing Price: $3,250,000

Cap Rate
8.25%
Number of Units
38
GRM
8.60
Occupancy
97.0%
Price/Unit
$85,526
Price/Gross SF
$110.39
Gross SF
29,442

Investment Overview

Marcus & Millichap is pleased to offer the Smokey Trail Apartments, a 38-unit property featuring one, two, and three-bedroom units. Smokey Trail Apartments is
located in Limon, CO which is a market where apartment demand exceeds supply. Limons economy is primarily driven by its strong renewable energy sector which
continues to support high-income job growth, which in-turn sustains demand for quality housing. Recent exterior upgrades in the past five years at Smokey Trail
apartments include eight new roofs with forty -year shingles, new four -tone exterior paint on all eight buildings, and approximately 250 new windows. Unit interiors
have been significantly upgraded. All units feature full kitchens, full-sized washer/dryer hookups, bay windows, deck/patios, and much more. Electric and gas are
separately metered, allowing units to have their own furnaces and hot water heaters. Low maintenance costs resulting from the substantial interior and exterior
upgrades are further enhanced by the Town of Limon clearing/maintaining Smokey Trail Drive, the street/cul-de-sac that runs through the complex.

Investment Highlights

  • 38-Unit Multifamily Consisting of One, Two and Three-Bedroom Units
  • Ample Parking, Storage Units, Laundry Facilities, Courtyard, BBQ & Picnic Area
  • Dishwashers, Oversized Closets, Plank Flooring, Central A/C, Washer/Dryer Hookups

Exclusively Listed By

Listing Price: $3,250,000

Cap Rate
8.25%
Number of Units
38
GRM
8.60
Occupancy
97.0%
Price/Unit
$85,526
Price/Gross SF
$110.39
Gross SF
29,442

Investment Highlights

  • 38-Unit Multifamily Consisting of One, Two and Three-Bedroom Units
  • Ample Parking, Storage Units, Laundry Facilities, Courtyard, BBQ & Picnic Area
  • Dishwashers, Oversized Closets, Plank Flooring, Central A/C, Washer/Dryer Hookups

Investment Overview

Marcus & Millichap is pleased to offer the Smokey Trail Apartments, a 38-unit property featuring one, two, and three-bedroom units. Smokey Trail Apartments is
located in Limon, CO which is a market where apartment demand exceeds supply. Limons economy is primarily driven by its strong renewable energy sector which
continues to support high-income job growth, which in-turn sustains demand for quality housing. Recent exterior upgrades in the past five years at Smokey Trail
apartments include eight new roofs with forty -year shingles, new four -tone exterior paint on all eight buildings, and approximately 250 new windows. Unit interiors
have been significantly upgraded. All units feature full kitchens, full-sized washer/dryer hookups, bay windows, deck/patios, and much more. Electric and gas are
separately metered, allowing units to have their own furnaces and hot water heaters. Low maintenance costs resulting from the substantial interior and exterior
upgrades are further enhanced by the Town of Limon clearing/maintaining Smokey Trail Drive, the street/cul-de-sac that runs through the complex.

Exclusively Listed By

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