Updated Four-Unit
For Sale
$1,199,900
2132 27th Ave Ct, Greeley, CO 80634
Residential Income, Greeley, CO
Property Size9,072 SF
Lot Size0.30 Acres
Price / SF$132.26
Days on Market254
Property Features for 2132 27th Ave Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R
Bedrooms
12
Bathrooms
8
Full bathrooms
8
Rooms
Bedroom 5, Bedroom 12, Bathroom 3, Bedroom 4, Bathroom 7, Bedroom 10, Bedroom 2, Bedroom 1, Bathroom 6, Bedroom 7, Basement, Bathroom 4, Bathroom 1, Bedroom 6, Bathroom 5, Bedroom 3, Bedroom 8, Bedroom 9, Bedroom 11, Bathroom 2, Bathroom 8
Parking
4
Interior features
Eat-in Kitchen, Pantry, Washer/Dryer Hookup, Shared Bath
Fireplace
1
Basement
Unfinished, Full
Appliances
Electric Range, Dishwasher, Refrigerator, Fire Alarm
Subdivision
Cascade Park 3rd Add 1st Rplt
Elementary school
Meeker
Middle school
Prairie Heights
High school
Greeley West
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Standard status
Active
APN
R2363386
Size
9,072 SF
Lot size
0.30 Acres
Taxes and HOA fees
Tax Year
2024
Tax Annual Amount
5943
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Central Air
Amenities
fireplace
patio
mature landscaping
Building Details
Year built
1983
Floors in Building
2
Number of units
4
Building materials
Frame
Roof type
Composition
Listing Agency:
Hitch Realty LLC
(970) 658-0878
Listed By:
Ifiok Udowana · License #100040478
(970) 581-9795
Added: Jan 1
Changed: Sep 3
Last Checked: Sep 12 at 12:06PM
MLS# 1048833
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This four-unit residential property contains 9,072 square feet on a 0.3-acre lot and was built in 1983. Each 2,268-square-foot residence follows the same arrangement, with a bright main level, fireplace, half bathroom, three bedrooms, and a full bathroom upstairs. Every unit also includes an unfinished basement, attached garage, patio, and outdoor space. Units C and D have been updated, while the remaining residences are described as move-in ready.
All four units are currently rented. The property includes central air, forced-air heating, electric ranges, dishwashers, refrigerators, fire alarms, public sewer service, and natural gas availability. Mature landscaping surrounds the improvements, and the location provides proximity to parks, the university, hospitals, shopping, and Highway 34 access.
All four units are currently rented. The property includes central air, forced-air heating, electric ranges, dishwashers, refrigerators, fire alarms, public sewer service, and natural gas availability. Mature landscaping surrounds the improvements, and the location provides proximity to parks, the university, hospitals, shopping, and Highway 34 access.
Key Highlights
- Four‑unit property with 9,072 square feet on 0.3 acres
- Each residence measures 2,268 square feet and includes 3 bedrooms
- Matching layouts feature fireplaces, half bathrooms, full upstairs bathrooms, and unfinished basements
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$104,409
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,088,180
$2.1M
Cap Rate 7%
$1,491,557
$1.5M
Cap Rate 9%
$1,160,100
$1.2M
Market Conditions
NOI Build-Up for 9,072 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$157.9K $17.40/SF
− Vacancy
−$8.7K −$0.96/SF
EGI
$149.2K $16.44/SF
− OpEx
−$44.7K −$4.93/SF
NOI
$104.4K $11.51/SF
Area
Greeley, CO
Vacancy
5.51%
Lease Rate
$17.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,088,180
Cap Rate 7%
$1,491,557
Cap Rate 9%
$1,160,100
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.31M – $1.74M
NOI $104,409 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,884 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office B
$1.65M
$1.45M – $1.93M
NOI $115,736 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
Explore this area
Business Placement
Demographics for 80634, CO
65,980
Population
25,802
Households
2.6
Avg Household Size
36
Median Age
32%
College-Educated
90%
High-School Grad
38.3 sq mi
ZIP Area
1,723
Density / Sq Mi
$83,255
Median Household Income
$46,808
Median Earnings
$1,567
Median Rent
$405,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Fully leased residences feature matching layouts, attached garages, patios, and private outdoor areas within a landscaped setting.
Where is this quadplex located?
The property is located at 2132 27th Ave Ct Greeley, CO.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: Four‑unit property with 9,072 square feet on 0.3 acres; Each residence measures 2,268 square feet and includes 3 bedrooms; Matching layouts feature fireplaces, half bathrooms, full upstairs bathrooms, and unfinished basements
