Highland Green Apartments | 807 Legion St
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Highland Green Apartments 807 Legion St
40 Unit Apartment Building $4,450,000 ($111,250/Unit) 6.75% Cap Rate Craig, CO 81625
Investment Highlights
- Easy to Manage, 4 10 unit buildings with 1 and 2 bedrooms 1 bath, individually metered
- Upside in rents with a continued housing shortage and strong demand
- Recently upgrades on several interiors , upgraded new sewer lines
Executive Summary
40 units consisting of 10 4 plex units, each with their own leased laundry in each building. Unit mix of (2) 1/1 and (2)2/1 in each building. Ownership has updated and replaced long damaged sewer lines at significant expense, updated interior units, and stabilized rents. The property is turn key with upsides in market rents. Craig continues to be the major workforce housing support for growing Steamboat Springs. This asset is self managed but local professional management is available. This multifamily asset is perfect for an investor who wants a stronger ROI for the money than metro Denver without all the homelessness, crime and the 150-250k per door entry fee. Craig continues to see rent growth and has low occupancy since there has been no new product for rent in decades. Seller is doing a 1031 tax deferred exchange and has contracted his up leg. Seller is principal. Buyers Brokers commission is available at 50K.
Financial Summary (Pro forma - 2025) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $4,450,000 | Apartment Style | Garden |
| Price Per Unit | $111,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.65 AC |
| Cap Rate | 6.75% | Building Size | 31,040 SF |
| Sale Conditions | 1031 Exchange | No. Stories | 2 |
| No. Units | 40 | Year Built | 1976 |
| Property Type | Multifamily | Parking Ratio | 0.16/1,000 SF |
| Property Subtype | Apartment |
| Price | $4,450,000 |
| Price Per Unit | $111,250 |
| Sale Type | Investment |
| Cap Rate | 6.75% |
| Sale Conditions | 1031 Exchange |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.65 AC |
| Building Size | 31,040 SF |
| No. Stories | 2 |
| Year Built | 1976 |
| Parking Ratio | 0.16/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 20 | - | 550 |
| 2+1 | 19 | - | 725 |
| 2+2 | 1 | - | 725 |
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PROPERTY TAXES
| Parcel Number | R008112 | Total Assessment | $106,298 (2023) |
| Land Assessment | $6,651 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $99,647 (2023) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
R008112
Land Assessment
$6,651 (2023)
Improvements Assessment
$99,647 (2023)
Total Assessment
$106,298 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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Maguire Real Estate and Investments
Highland Green Apartments | 807 Legion St
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