For Sale
$2,650,000

2122 28Th AveGreeley, CO 80634

8-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 8-unit apartment building presents a compelling investment opportunity in Greeley, Colorado. Boasting 13,600 square feet on a 0.46-acre lot, this 1983-built property has undergone a complete renovation, resulting in a turnkey operation with high-end finishes. Each unit features two bedrooms and two bathrooms, a two-car garage with additional assigned parking, a private enclosed patio, a beautiful brick fireplace, high vaulted ceilings, and an open layout. A fully finished basement in each unit provides versatile additional living space. Units include in-unit washer/dryers and individually metered gas and electric utilities. The property currently generates a NOI of $162,886, with a pro-forma NOI of $215,086, representing a 6.15% cap rate and a pro-forma cap rate of 8.12%. The asking price is $2,650,000, or $331,250 per unit. Located in a desirable neighborhood near Sanborn Park, this property offers easy access to shopping, dining, and outdoor recreation. The potential for increased revenue exists through market-rate rent adjustments and a utility billback system. This is a rare opportunity to acquire a fully renovated, high-performing multifamily asset in a thriving Colorado market.

Highlights

  • $2,650,000 asking price for an 8-unit apartment building in Greeley, CO.
  • 13,600 square feet, offering $194.85 per square foot.
  • 6.15% cap rate, with a pro-forma cap rate of 8.12%.
  • $162,886 current NOI, projecting $215,086 pro-forma NOI.
  • Fully renovated, turnkey property with high-end finishes, including in-unit washer/dryer.
  • Each unit features a two-car garage, assigned parking, private patio, brick fireplace, vaulted ceilings, and a finished basement.

Property Details for 2122 28Th Ave

Property type
Apartment buildings
Square Feet
13,600 SF
Year Built
1983
Lot Size (sq. ft)
20,038 SF
Units
8

Location Insight

City
Greeley
County
Weld
State
Colorado
Latitude
40.4035856
Longitude
-104.7265906
2122 28Th Ave, Greeley, Colorado

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2122 28Th Ave
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