2122 28th Ave
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2122 28th Ave
8 Unit Apartment Building $2,600,000 ($325,000/Unit) 8.27% Cap Rate Greeley, CO 80634
Investment Highlights
- Fully Renovated, Turn Key Property
- Excellent Unit Mix
- Private enclosed patio offering additional living space for residents
- High End Finishes with Washer/ Dryer In-Unit
- Two car garage with additional assigned parking space for each unit, ensuring ample parking for residents
- Beautiful brick fireplace in each unit adds charm and warmth
Executive Summary
MMG is pleased to present the opportunity to invest in prime real estate with these newly renovated townhome-style units in Greeley's most desirable neighborhood near Sanborn Park. This investment opportunity offers the potential for increasing revenue through raising rents to market rates and implementing a utility billback system. With a focus on 3-bedroom, 2-bathroom units, this property offers high rental rates and low vacancies, ensuring steady cash flow for investors. Located in the heart of the front range, residents have easy access to shopping, dining, and outdoor activities.
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,600,000 | Building Class | C |
| Price Per Unit | $325,000 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 13,600 SF |
| Cap Rate | 8.27% | Average Occupancy | 97% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1983 |
| Property Subtype | Apartment | Parking Ratio | 1.18/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,600,000 |
| Price Per Unit | $325,000 |
| Sale Type | Investment |
| Cap Rate | 8.27% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 13,600 SF |
| Average Occupancy | 97% |
| No. Stories | 2 |
| Year Built | 1983 |
| Parking Ratio | 1.18/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Fireplace
- Heating
- Vaulted Ceiling
- Carpet
- Patio
Site Amenities
- 24 Hour Access
- Walking/Biking Trails
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+3 | 8 | $3,124 | 1,700 |
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PROPERTY TAXES
| Parcel Number | R2370386 | Improvements Assessment | $136,660 |
| Land Assessment | $10,740 | Total Assessment | $147,400 |
PROPERTY TAXES
Parcel Number
R2370386
Land Assessment
$10,740
Improvements Assessment
$136,660
Total Assessment
$147,400
zoning
| Zoning Code | R-M |
| R-M |
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2122 28th Ave
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