For Sale
$1,000,000

807 37Th AveGreeley, CO 80634

Five-unit, fully renovated rental complex.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a meticulously renovated five-unit multifamily portfolio situated at 807-813 37th Avenue in Greeley, Colorado. The property boasts a total of 4,690 square feet of net rentable space, spread across two two-story buildings constructed in 1979 and extensively renovated in 2023. Each of the five units features two bedrooms and 1.5 bathrooms, encompassing 936 square feet, complete with a carport and outdoor patio. Recent upgrades include new luxury vinyl plank flooring, carpeting, vanities, countertops, and lighting fixtures throughout. The property benefits from a 100% occupancy rate, generating a strong net operating income (NOI) of $49,770, resulting in a compelling 4.98% cap rate. The asking price is $1,000,000, or $200,000 per unit, and the price per square foot is $214. The property sits on a sizable 16,509 square foot lot and is professionally managed under a homeowner's association (HOA). The HOA fee of $400 per unit per month covers water, sewer, gas, electricity, snow removal, trash service, and exterior maintenance, minimizing operational burdens for the owner. This turnkey investment offers a blend of modern amenities, strong rental income, and low-maintenance operation, making it an attractive addition to any real estate portfolio. The property is classified as Class B with a modified lease type and features a new parking lot.

Highlights

  • Fully renovated units.
  • Two-bedroom, one-and-a-half-bathroom floor plans.
  • New parking lot.
  • Private outdoor patios.
  • Individual carports.
  • Fresh interior paint.

Property Details for 807 37Th Ave

Property type
Residential income homes
Square Feet
4,680 SF
Class
B
Year Built/Renovated
1979/2023
Buildings
2
Stories
2
Units
5

Location Insight

City
Greeley
County
Weld
State
Colorado
Latitude
40.4248275
Longitude
-104.7395496
807 37Th Ave, Greeley, Colorado

FAQs

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807 37Th Ave
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