Longmont (Boulder County) Tri-Plex | 2107 3rd Ave
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Longmont (Boulder County) Tri-Plex 2107 3rd Ave
3 Unit Apartment Building $720,000 ($240,000/Unit) 6.41% Cap Rate Longmont, CO 80501
EXECUTIVE SUMMARY
Welcome to this rare Boulder County Triplex / Multifamily Investment Property. This property is a fully leased/stabilized turnkey asset. Each unit includes two bedrooms, one bath, washer/dryer hookups, and an external storage locker. 2 of the 3 have their own fenced backyards and with a little investment the third could as well. All units are individually metered for utilities (except water). Currently water is an owner/landlord paid line item. Owners have been diligent with their investment. In the last 5 years, they have spent an estimated $50-60k in repairs / upgrades, secured the necessary rental licensing, and have kept up on rental increases/rates (Rent numbers are actual and not projections.) and have enjoyed virtually zero vacancies during their ownership. This property is ideally situated in Longmont close to downtown and to all your daily conveniences (Multiple bus routes, King Soopers, Whole Foods, Home Depot, Target, Left Hand Brewery, St. Vrain Greenway, etc.). The adjacent vacant parcel, 0 3rd Avenue, is also for sale. Reach out to broker for more info. Combine these two to add an additional unit and/or detached garages
FINANCIAL SUMMARY (PRO FORMA - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$53,400
|
$18.58
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$53,400
|
$18.58
|
| Taxes |
$3,865
|
$1.34
|
| Operating Expenses |
$3,316
|
$1.15
|
| Total Expenses |
$7,181
|
$2.50
|
| Net Operating Income |
$46,219
|
$16.08
|
FINANCIAL SUMMARY (PRO FORMA - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $53,400 |
| Annual Per SF | $18.58 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $53,400 |
| Annual Per SF | $18.58 |
| Taxes | |
|---|---|
| Annual | $3,865 |
| Annual Per SF | $1.34 |
| Operating Expenses | |
|---|---|
| Annual | $3,316 |
| Annual Per SF | $1.15 |
| Total Expenses | |
|---|---|
| Annual | $7,181 |
| Annual Per SF | $2.50 |
| Net Operating Income | |
|---|---|
| Annual | $46,219 |
| Annual Per SF | $16.08 |
PROPERTY FACTS
| Price | $720,000 | Apartment Style | Single-Family Home |
| Price Per Unit | $240,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 6.41% | Building Size | 2,874 SF |
| Sale Condition | 1031 Exchange | Average Occupancy | 100% |
| Gross Rent Multiplier | 13.48 | No. Stories | 1 |
| No. Units | 3 | Year Built/Renovated | 1956/2021 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment |
| Price | $720,000 |
| Price Per Unit | $240,000 |
| Sale Type | Investment |
| Cap Rate | 6.41% |
| Sale Condition | 1031 Exchange |
| Gross Rent Multiplier | 13.48 |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Single-Family Home |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 2,874 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1956/2021 |
| Opportunity Zone |
Yes |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Fireplace
- Washer/Dryer
- Washer/Dryer Hookup
- Ceiling Fans
- High Speed Internet Access
- Refrigerator
- Oven
- Window Coverings
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 1 | $1,625 | - |
| 2+1 | 2 | $1,300 | - |
| 2+1 | 3 | $1,525 | - |
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PROPERTY TAXES
| Parcel Number | 1315043-06-002 | Total Assessment | $40,964 |
| Land Assessment | $11,417 | Annual Taxes | $3,865 ($1.34/SF) |
| Improvements Assessment | $29,547 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1315043-06-002
Land Assessment
$11,417
Improvements Assessment
$29,547
Total Assessment
$40,964
Annual Taxes
$3,865 ($1.34/SF)
Tax Year
2024
ZONING
| Zoning Code | SFR (Property has a single family zoning designation, but has been grandfathered in with the City of Longmont and has a current rental license.) |
| SFR (Property has a single family zoning designation, but has been grandfathered in with the City of Longmont and has a current rental license.) |
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Longmont (Boulder County) Tri-Plex | 2107 3rd Ave
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