1023 12Th AveGreeley, CO 80631
- Residential income properties
- 4,336 SF
Property Details for 1023 12Th Ave
- Year built
- 1902
- Property size (Sq ft)
- 4,336 SF
- Property type
- Residential income properties
- Property subtype
- Multifamily properties
Description
This 8-unit apartment building at 1023 12th Ave, Greeley, CO 80631, presents a compelling value-add investment opportunity. The property, built in 1902 and extensively renovated in 2023, boasts 4,336 square feet and offers a compelling price per square foot of $161.21. Currently priced at $699,000, this translates to an attractive price per unit of $87,375. The property's strong pro-forma NOI of $66,764 projects a 9.55% cap rate, indicating significant potential for return on investment. Situated conveniently just 1.5 miles north of the University of Northern Colorado and within walking distance of Downtown Greeley, this Class C building benefits from a prime location with high rental demand. The property offers significant value-add potential through further unit renovations and the addition of coin-operated laundry facilities to the currently underutilized laundry room. Seller financing is available for qualified investors, making this an even more attractive proposition. This is a rare chance to acquire a well-positioned multifamily property with substantial upside potential in a thriving Colorado market. The single building property is a heavy value-add investment, offering significant potential for increased profitability.
Location Insight
- City
- Greeley
- County
- Weld
- State
- Colorado
- Latitude
- 40.4217
- Longitude
- -104.698
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
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