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Multifamily

Sagewood Apartments

131 River Rd, Rangely, CO 81648

Listing Price: $750,000

Cap Rate
8.17%
Number of Units
30
GRM
4.42
Occupancy
92.0%
Price/Unit
$25,000
Price/Gross SF
$32.45
Gross SF
23,110

Investment Overview

Marcus & Millichap is pleased to offer the Sagewood Apartments, a 30-Unit apartment complex located at 131 River Road in Rangely, Colorado. The Sagewood Apartments is made up of four (4) one-bedroom units, 14 two-bedroom units, and 12 three-Bedroom units, each equipped with modern appliances and comfortable living-spaces. The Sagewood Apartments is located in City of Rangely, which along with other Colorado mountain towns, has seen consistent year-over-year growth in property values. Living at the Sagewood Apartments offers residents walking distance to a variety of recreation options including the White River and Elks Park. Down the road lies the Rangely Outdoor Museum, where residents can learn about the recent, and not so recent history of historic Rangely. Less than one mile from downtown Rangely, residents have access to a large variety of retail and dining options. Rangely has become a time capsule of the Colorado that once existed, and it is where the old west has stayed young. Years of net migration have left much of the state over-developed for those who cherish its open spaces and beautiful scenery. As Colorado continues to grow, real estate in locations like Rangely will continue to be of value to investors looking to tap into the niche, small mountain town markets.

An opportunity exists to either raze a currently unoccupied building containing 30 units for a cost of approximately $15,000 or invest approximately $20,000 per unit totaling $600,000 ($20,000 x 30 units) to make this currently unoccupied building inhabitable.

Investment Highlights

  • Easy Access to Main Roadways including US Highway 40
  • Walking Access to Most of Rangely
  • $25,000/Unit

Exclusively Listed By

Listing Price: $750,000

Cap Rate
8.17%
Number of Units
30
GRM
4.42
Occupancy
92.0%
Price/Unit
$25,000
Price/Gross SF
$32.45
Gross SF
23,110

Investment Highlights

  • Easy Access to Main Roadways including US Highway 40
  • Walking Access to Most of Rangely
  • $25,000/Unit

Investment Overview

Marcus & Millichap is pleased to offer the Sagewood Apartments, a 30-Unit apartment complex located at 131 River Road in Rangely, Colorado. The Sagewood Apartments is made up of four (4) one-bedroom units, 14 two-bedroom units, and 12 three-Bedroom units, each equipped with modern appliances and comfortable living-spaces. The Sagewood Apartments is located in City of Rangely, which along with other Colorado mountain towns, has seen consistent year-over-year growth in property values. Living at the Sagewood Apartments offers residents walking distance to a variety of recreation options including the White River and Elks Park. Down the road lies the Rangely Outdoor Museum, where residents can learn about the recent, and not so recent history of historic Rangely. Less than one mile from downtown Rangely, residents have access to a large variety of retail and dining options. Rangely has become a time capsule of the Colorado that once existed, and it is where the old west has stayed young. Years of net migration have left much of the state over-developed for those who cherish its open spaces and beautiful scenery. As Colorado continues to grow, real estate in locations like Rangely will continue to be of value to investors looking to tap into the niche, small mountain town markets.

An opportunity exists to either raze a currently unoccupied building containing 30 units for a cost of approximately $15,000 or invest approximately $20,000 per unit totaling $600,000 ($20,000 x 30 units) to make this currently unoccupied building inhabitable.

Exclusively Listed By

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