501 Aspen Ave
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501 Aspen Ave
8 Unit Apartment Building $1,200,000 ($150,000/Unit) 5.99% Cap Rate Estes Park, CO 80517
Investment Highlights
- Walkable to town
- Each unit with own storage
- Desired rental property
Executive Summary
Investment property featuring 8 rental units, each offering 325 sq. ft. of living space with an additional 6x5 personal storage unit for every tenant. Each unit comes with utilities included, providing added convenience and appeal to tenants. The property has a detached storage building for tenant use and ample on-site parking. Located within walking distance to downtown and the local hospital, this property offers tenants easy access to key amenities and services. With its desirable location, this property presents an opportunity for investors seeking steady rental income with potential for growth.
Financial Summary (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$92,720
|
$36.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$92,720
|
$36.22
|
| Taxes |
$4,243
|
$1.66
|
| Operating Expenses |
$20,882
|
$8.16
|
| Total Expenses |
$25,125
|
$9.81
|
| Net Operating Income |
$67,595
|
$26.40
|
Financial Summary (Actual - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $92,720 |
| Annual Per SF | $36.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $92,720 |
| Annual Per SF | $36.22 |
| Taxes | |
|---|---|
| Annual | $4,243 |
| Annual Per SF | $1.66 |
| Operating Expenses | |
|---|---|
| Annual | $20,882 |
| Annual Per SF | $8.16 |
| Total Expenses | |
|---|---|
| Annual | $25,125 |
| Annual Per SF | $9.81 |
| Net Operating Income | |
|---|---|
| Annual | $67,595 |
| Annual Per SF | $26.40 |
Property Facts
| Price | $1,200,000 | Building Class | C |
| Price Per Unit | $150,000 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 2,560 SF |
| Cap Rate | 5.99% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/1993 |
| Property Subtype | Apartment | Parking Ratio | 3.51/1,000 SF |
| Apartment Style | Low Rise | Opportunity Zone |
Yes
|
| Price | $1,200,000 |
| Price Per Unit | $150,000 |
| Sale Type | Investment |
| Cap Rate | 5.99% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 2,560 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/1993 |
| Parking Ratio | 3.51/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Storage Space
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 325 |
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PROPERTY TAXES
| Parcel Number | 25303-16-025 | Total Assessment | $62,632 (2024) |
| Land Assessment | $15,745 (2024) | Annual Taxes | $4,243 ($1.66/SF) |
| Improvements Assessment | $46,887 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
25303-16-025
Land Assessment
$15,745 (2024)
Improvements Assessment
$46,887 (2024)
Total Assessment
$62,632 (2024)
Annual Taxes
$4,243 ($1.66/SF)
Tax Year
2023
zoning
| Zoning Code | RM |
| RM |
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501 Aspen Ave
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