Six-Unit Apartment Building with
For Sale
$879,000
2927 State Farm Rd, Evans, CO 80620
MULTI_FAMILY - Evans, CO
Property Size4,448 SF
Lot Size0.28 Acres
Price / SF$197.62
Days on Market29
Property Features for 2927 State Farm Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bedroom 8, Bathroom 4, Bedroom 6, Bedroom 11, Basement, Bathroom 1, Bedroom 2, Bathroom 3, Bedroom 1, Bedroom 9, Bedroom 10, Bathroom 2, Bathroom 5, Bedroom 3, Bedroom 7, Bathroom 6, Bedroom 4
Parking
6
Interior features
Eat-in Kitchen
Exterior features
Sprinkler System, Balcony
Basement
Partially Finished, Full
Appliances
Electric Range, Dishwasher, Refrigerator
Subdivision
Lakeshore 3rd Add
Lot features
Native Grass, Level, House Faces West, Mineral Rights Excluded
View
City
Elementary school
Jackson
Middle school
John Evans
High school
Greeley West
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Standard status
Active
APN
R3877086
Size
4,448 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
5019
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Hot Water(Heating)
Cooling system
Ceiling Fan(s)
Building Details
Year built
1971
Number of units
6
Building materials
Brick
Roof type
Composition
Listing Agency:
CENTURY 21 Cornerstone
(970) 842-2444
Listed By:
Stacey Martindale
(970) 380-3996
Added: Jul 3
Changed: Jul 28
Last Checked: Jul 31 at 9:06PM
MLS# 1063318
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 well-maintained six-unit apartment building offers a practical unit mix of five two-bedroom, one-bath units and one one-bedroom, one-bath unit. On-site parking includes a spacious covered carport totaling approximately 780 square feet, accommodating an estimated 5–6 vehicles, along with additional off-street parking. The property is also equipped with a sprinkler system intended to support landscape maintenance, and all appliances are included with the sale.
The building is located at 2927 State Farm Rd in Evans, Colorado (Weld County; 80620). Its parking configuration is designed to support everyday tenant needs, and the covered portion helps provide weather protection for a portion of resident vehicles.
For investors and operators seeking a multifamily property with an established in-place configuration, the clear unit mix and included appliances can simplify turnover and reduce initial replacement needs. The on-site parking plan, including both covered and additional off-street spaces, supports resident access, while the sprinkler system supports routine landscaping upkeep. This combination of layout, amenities, and included items may appeal to those looking for a ready-to-operate income property.
The building is located at 2927 State Farm Rd in Evans, Colorado (Weld County; 80620). Its parking configuration is designed to support everyday tenant needs, and the covered portion helps provide weather protection for a portion of resident vehicles.
For investors and operators seeking a multifamily property with an established in-place configuration, the clear unit mix and included appliances can simplify turnover and reduce initial replacement needs. The on-site parking plan, including both covered and additional off-street spaces, supports resident access, while the sprinkler system supports routine landscaping upkeep. This combination of layout, amenities, and included items may appeal to those looking for a ready-to-operate income property.
Key Highlights
- 6‑unit apartment building with a unit mix of five 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- 780 sq. ft. covered carport with capacity for approximately 5–6 vehicles, plus additional off‑street parking
- Brick construction with a composition roof; built in 1971
Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $90.7k | $20.40 |
| − Vacancy | −$5.3k | −$1.18 |
| EGI | $85.5k | $19.22 |
| − OpEx | −$38.5k | −$8.65 |
| NOI | $47.0k | $10.57 |
4,448 SF · lease $20.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$671.6K
$587.7K – $783.5K
NOI $47,012 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$810.6K
$709.3K – $945.8K
NOI $56,745 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
Explore this area
Business Placement
Demographics for 80620, CO
20,975
Population
6,794
Households
3.1
Avg Household Size
30
Median Age
20%
College-Educated
81%
High-School Grad
5.9 sq mi
ZIP Area
3,555
Density / Sq Mi
$71,410
Median Household Income
$40,446
Median Earnings
$1,463
Median Rent
$315,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Six-unit apartment building in Evans with covered carport parking, sprinkler system, and included appliances.
Where is this apartment building located?
The property is located at 2927 State Farm Rd Evans, CO.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 6‑unit apartment building with a unit mix of five 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; 780 sq. ft. covered carport with capacity for approximately 5–6 vehicles, plus additional off‑street parking; Brick construction with a composition roof; built in 1971
