2916 Glen Dale DrEvans, CO 80620

Property Details for 2916 Glen Dale Dr

Year built

1973

Property size (Sq ft)

13,088 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional investment opportunity presents an 18-unit apartment complex in Evans, Colorado, situated on a 25,061 square foot lot. The property, built in 1973, comprises three two-story buildings totaling 13,088 square feet. Currently boasting a 5.87% cap rate and a $140,770 net operating income (NOI), a pro-forma analysis projects a 6.99% cap rate and a $167,680 NOI, showcasing significant value-add potential. The asking price is $2,400,000, translating to $185 per square foot and $133,333.33 per unit. All 18 units are individually deeded, providing investors with enhanced flexibility. The unit mix includes fifteen two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units. Its prime location offers convenient access to the University of Northern Colorado (less than a mile away) and the Greeley Mall (five minutes away). This well-maintained property presents a compelling opportunity for investors seeking to capitalize on a proven renovation strategy and acquire an asset below replacement cost within a thriving market. The property is classified as a Class C multifamily investment.

Location Insight

City

Evans

County

Weld

State

Colorado

Latitude

40.3902

Longitude

-104.693

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