Stabilized 64-unit workforce community near UNC
2715 11th Avenue · Greeley · Weld County, CO 80631
Asking price
$9,600,000
Building
64,000 sqft
Lot
2.4 ac
Cap rate
6%
The pitch
Section 01 / 03Investment highlights
- 64 units, 95% occupied
- Near UNC and downtown Greeley
- Pitched roofs, recent exterior paint
- Individually metered units
Executive summary
A well-kept 64-unit garden community minutes from the University of Northern Colorado and downtown Greeley. Strong workforce demand and steady occupancy make this a dependable cash-flowing asset with room to bring rents to market on turnover.
The asset
Section 02 / 03Pricing & Size
- Building Size
- 64,000 sqft
- Cap Rate
- 6 %
- Net Operating Income
- 576,000 $/yr
- Building Class
- Class B
Building
- Construction Type
- Wood Frame
- Condition
- Good
- Stories
- 2
- Parking Spaces
- 110
- Parking Ratio
- 1.72 per 1k sqft
Utilities
- Water
- Municipal
- Sewer
- Municipal
Multifamily Features
- Number of Units
- 64
- Occupancy
- 95 %
- Average Rent
- 1,280 $/mo
- Unit Mix
- 24 × 1BR / 32 × 2BR / 8 × 3BR
- Laundry
- Shared on-site
Location & Zoning
- Zoning
- R-M
- FEMA Flood Zone
- X
- Opportunity Zone
- Yes
Location & area
Section 03 / 03Location
40.40120, -104.69200Area & market data
Third-party sourcesNeighborhood Demographics
- Median Household Income
- $67,641
- Median Age
- 34 yrs
- Population
- 108,795 people
- Households
- 38,902
Location Context
Walk Score
38 / 100
Transit Score
18 / 100
Risk Assessment
- Seismic Zone
- 1
- Seismic Risk Category
- Low
Market Context
- Median Sale Price (5mi)
- $1,700,000
- Median Lease Rate (5mi)
- 11.5 $/sqft/yr