1428 Greene StSilverton, CO 81433

Property Details for 1428 Greene St

Year built

2005

Lot size

0.11 AC

Property size (Sq ft)

12,098 SF

Property type

Apartment buildings

Description

This exceptional 13-unit apartment building presents a compelling investment opportunity in Silverton, Colorado. Boasting 12,098 square feet, this three-story, Class B property sits on a 0.11-acre lot and includes four covered parking spaces. Currently 100% occupied, the building features ten residential units – eight spacious two-bedroom, two-bathroom units with abundant natural light and mountain views, and two ADA-compliant ground-floor units (one studio, one one-bedroom, one-bathroom). Three commercial units are also included. Recent improvements include a complete exterior paint job and an optimized heating system. A coin-operated laundry adds to the income stream. The partially finished 3,457-square-foot basement offers significant value-add potential, with potential for expansion, additional bathrooms, and conversion to gym space or additional office space, increasing the total square footage to 15,556. The property is zoned for short-term vacation rentals, a rare and valuable asset in this high-demand market. The building's strong historical occupancy, combined with the potential for increased revenue through basement development and parking rentals, makes this a truly unique investment opportunity in a town where housing demand significantly exceeds supply. Financial highlights include an asking price of $2,850,000, a current cap rate of 4.63%, and a pro-forma cap rate of 4.87%, with a pro-forma NOI of $138,792. Built in 2005, this is the largest apartment building in Silverton.

Location Insight

City

Silverton

County

San Juan

State

Colorado

Latitude

37.8136

Longitude

-107.662

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?

Please email our support team at [email protected] and they will add the team member.

How do I access a private listing?

Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.

How can I contact the broker?

We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.

How do I unsubscribe from emails?

At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].