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    407 E Corona Ave Wiggins, CO 80654

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    Claim this Listing
    For Sale
    $699,900

    MULTI_FAMILY - Contemporary - Wiggins, CO

    Property size:
    3,356 SF
    Lot size:
    0.48 Acres
    Added:
    Apr 13, 2026
    Days on Market:
    8
    Last Refresh:
    Apr 20 at 12:06 pm

    Property Features for 407 E Corona Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Other
    Zoning
    Residentia
    Bedrooms
    5
    Bathrooms
    3
    Rooms
    Bedroom 5, Bedroom 3, Bedroom 2, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Basement, Bedroom 4
    Parking
    9
    Window features
    Window Coverings
    Patio and Porch features
    Deck, Patio
    Exterior features
    Sprinkler System, Balcony
    Basement
    Partially Finished
    Appliances
    Electric Range, Gas Range, Dishwasher, Refrigerator, Microwave, Water Softener Owned
    Standard status
    Active
    APN
    122311302001
    Size
    3,356 SF
    Lot size
    0.48 Acres

    Taxes and HOA fees

    Tax Year
    2025
    Tax Annual Amount
    2923

    Utilities

    Utilities
    Natural Gas Available
    Sewer type
    Public Sewer
    Heating system
    Forced Air
    Cooling system
    Ceiling Fan(s), Central Air

    Building Details

    Year built
    1970
    Floors in Building
    2
    Number of units
    3
    Building materials
    Frame
    Roof type
    Composition
    Architectural style
    Contemporary
    Additional Structures
    Storage

    We can help!

    Listing Contact
    Amanda Robinson
    Amanda Robinson

    Listing agent Amanda Robinson

    Listing office LPT Realty, LLC. 5660 Greenwood Plaza Bivd Suite 410, Pierce, CO

    Listing date Apr 13, 2026

    MLS# 1056483 Listing URL

    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.

    Overview

    Wiggins Triplex: Income Potential

    Located in the North Ridge Addition of Wiggins, this triplex offers income-producing potential. The property features three units: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. One 2-bedroom unit and the 1-bedroom unit have been remodeled with fresh paint, updated kitchens featuring tile flooring, laminate flooring, and refreshed bathrooms. The 1-bedroom unit is move-in ready. The remaining 2-bedroom unit is in original condition, presenting an opportunity to renovate and increase rental income. The property includes a large shared deck off the two upper units. Exterior highlights include refreshed landscaping, fresh sod, an updated sprinkler system, and mature trees. Parking includes six dedicated off-street spaces, two per unit, plus an oversized two-car garage. Dedicated tenant storage is available. The property is situated on a 0.48-acre lot. The property size is 3356 square feet.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Triplexes

    Suggested Use

    Restaurant Real Estate Agency Building Supply Spa & Massage Center Big Box & Wholesale Store Hair Salon Auto Repair Shop Nail Salon Auto Parts Store Department Store

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Wiggins
    County
    Morgan
    State
    Colorado
    Longitude
    -104.0699503
    Latitude
    40.2331274

    Nearby Similar for Sale

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      Commercial Building in Wiggins, Colorado

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    • $699,000

      Fully Leased Wiggins Investment Opportunity

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    • $455,000
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      Wiggins Restaurant Opportunity

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      Wiggins Automotive Shop with Lifts

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      View Details

    FAQs

    What type of property is this?
    Triplex - Updated triplex in Wiggins with immediate cash flow potential.
    Where is this triplex located?
    The property is located at 407 E Corona Ave Wiggins, CO.
    What is the asking price?
    The asking price for this property is $699,900.
    What are key features of this property?
    This property features: Income‑producing triplex in a desirable location, offering immediate cash flow and strong upside potential.; Two units (one 2‑bedroom and one 1‑bedroom) are remodeled with **updated kitchens and bathrooms, and durable flooring**, ready for immediate occupancy or leasing.; Value‑add opportunity to renovate the remaining 2‑bedroom unit and increase rental income.
    (303) 912-4904
    We can help!
    Listing Contact
    Amanda Robinson
    Amanda Robinson
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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