807 37Th AveGreeley, CO 80634

Property Details for 807 37Th Ave

Year built

1979

Property size (Sq ft)

4,680 SF

Property type

Investment properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Greeley

County

Weld

State

Colorado

Latitude

40.4248

Longitude

-104.74

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