1650 29Th Avenue PlGreeley, CO 80634

  • Residential income properties
  • 14,031 SF
For Sale
$2,700,000 View listing

Property Details for 1650 29Th Avenue Pl

Year built
1979
Property size (Sq ft)
14,031 SF
Property type
Residential income properties
Property subtype
Multifamily properties

Description

This meticulously renovated 13-unit apartment building, Chateau 29, is situated in West Greeley, Colorado, at 1650 29th Ave Pl, 80634. Built in 1979, this three-story building boasts 14,031 square feet on a 23,444 square foot lot. The property features a mix of unit types including one studio, two one-bedroom/one-bathroom units, and ten spacious two-bedroom/one-and-a-half-bathroom units. Recent upgrades include a new roof, resurfaced parking lot, upgraded boiler, fresh exterior paint, renovated stairwells, and updated landscaping. Interior renovations are equally impressive, with each unit showcasing high-end stainless steel appliances, quartz countertops, new bathrooms, recently replaced windows and flooring, and in-unit laundry facilities. The property offers a compelling investment opportunity with a current NOI of $150,356 and a pro-forma NOI of $171,161, translating to a current cap rate of 5.57% and a pro-forma cap rate of 6.34%. The asking price is $2,700,000, representing a price per unit of $207,692.31 and a price per square foot of $192.43. Its prime location provides easy access to major highways, diverse retail and business districts, parks, and entertainment options. This property presents a strong value proposition for investors seeking a well-maintained, high-performing multifamily asset in a desirable location.

1650 29Th Avenue Pl, Greeley, Colorado

Location Insight

City
Greeley
County
Weld
State
Colorado
Latitude
40.4134
Longitude
-104.728

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