2122 28Th AveGreeley, CO 80634

Property Details for 2122 28Th Ave

Year built

1983

Lot size

0.46 AC

Property size (Sq ft)

13,600 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 8-unit apartment building presents a compelling investment opportunity in Greeley, Colorado. Boasting 13,600 square feet on a 0.46-acre lot, this 1983-built property has undergone a complete renovation, resulting in a turnkey operation with high-end finishes. Each unit features two bedrooms and two bathrooms, a two-car garage with additional assigned parking, a private enclosed patio, a beautiful brick fireplace, high vaulted ceilings, and an open layout. A fully finished basement in each unit provides versatile additional living space. Units include in-unit washer/dryers and individually metered gas and electric utilities. The property currently generates a NOI of $162,886, with a pro-forma NOI of $215,086, representing a 6.15% cap rate and a pro-forma cap rate of 8.12%. The asking price is $2,650,000, or $331,250 per unit. Located in a desirable neighborhood near Sanborn Park, this property offers easy access to shopping, dining, and outdoor recreation. The potential for increased revenue exists through market-rate rent adjustments and a utility billback system. This is a rare opportunity to acquire a fully renovated, high-performing multifamily asset in a thriving Colorado market.

Location Insight

City

Greeley

County

Weld

State

Colorado

Latitude

40.4036

Longitude

-104.727

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