1637 Kimbark StLongmont, CO 80501

Property Details for 1637 Kimbark St

Year built

1966

Property size (Sq ft)

4,620 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 8-unit apartment building in Longmont, Colorado presents a compelling investment opportunity. Located at 1637 Kimbark St, this stabilized property boasts a substantial 4,620 square feet of living space situated on a 7,623 square foot lot. Built in 1966 and extensively renovated in 2020, the property features a new roof, soffits, gutters, chiller, and exterior paint. Common areas have also been remodeled. The building comprises two stories and includes eight off-street parking spaces. The property offers a current NOI of $82,307 and a pro-forma NOI of $87,184, translating to a current cap rate of 5.88% and a pro-forma cap rate of 6.23%. The asking price is $1,400,000, or $175,000 per unit. This turnkey property is conveniently located just five minutes from downtown Longmont, offering easy access to amenities and services. The property features central boiler heating and evaporative chiller air conditioning. Water and sewer are master-metered, and gas and electric are master/individual. The construction is brick with a pitched roof. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a desirable Colorado location.

Location Insight

City

Longmont

County

Boulder

State

Colorado

Latitude

40.188

Longitude

-105.101

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