1023 12Th AveGreeley, CO 80631

Property Details for 1023 12Th Ave

Year built

1902

Property size (Sq ft)

4,336 SF

Property type

Apartment buildings

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

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