Updated Four-Unit
For Sale
$490,000
710 15th Ave Ct, Greeley, CO 80631
Residential Income, Greeley, CO
Property Size2,040 SF
Lot Size0.10 Acres
Price / SF$240.20
Days on Market54
Property Features for 710 15th Ave Ct
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
R-M
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 2, Bathroom 4, Bedroom 2, Basement, Bedroom 3, Bathroom 3, Bedroom 4, Bathroom 1, Bedroom 1
Basement
Full
Appliances
Refrigerator
Subdivision
Greeley
Elementary school
Maplewood
Middle school
Heath
High school
Northridge
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
Standard status
Active
APN
R3005486
Size
2,040 SF
Lot size
0.10 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
3314
Utilities
Utilities
Natural Gas Available
Sewer type
Public Sewer
Heating system
Forced Air
Cooling system
Ceiling Fan(s)
Building Details
Year built
1952
Floors in Building
2
Number of units
4
Building materials
Frame
Roof type
Composition
Additional Structures
Storage
Listing Agency:
RE/MAX Alliance-Windsor · RE/MAX International
(970) 593-0999
Listed By:
Suzanne Ekeler
(970) 590-4841
Added: Jul 9
Changed: Aug 19
Last Checked: Aug 31 at 3:06PM
MLS# 1063759
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 2,040-square-foot quadplex contains four one-bedroom, one-bathroom residences. Three units feature refreshed kitchens and bathrooms, new faucets, new flooring, and recently applied interior paint. The fourth unit remains positioned for future improvements. Property systems include forced-air heating, ceiling fans, composition roofing, frame construction, natural gas availability, and public sewer service. A refrigerator is included among the listed appliances.
The property is located in Greeley near shopping, dining, schools, parks, and the University of Northern Colorado. The 0.1-acre site is within reach of major roadways, providing access to everyday services and the surrounding community. Zoning is R-M, and the building was constructed in 1952.
The property is located in Greeley near shopping, dining, schools, parks, and the University of Northern Colorado. The 0.1-acre site is within reach of major roadways, providing access to everyday services and the surrounding community. Zoning is R-M, and the building was constructed in 1952.
Key Highlights
- Four‑unit configuration with four 1‑bedroom, 1‑bathroom units
- 2,040 square feet on a 0.1‑acre site
- Three units have updated kitchens, bathrooms, flooring, faucets, and interior paint
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
$23,478
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
4.79%
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%
$469,560
$469.6K
Cap Rate 7%
$335,400
$335.4K
Cap Rate 9%
$260,867
$260.9K
Market Conditions
NOI Build-Up for 2,040 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
$35.5K $17.40/SF
− Vacancy
−$2.0K −$0.96/SF
EGI
$33.5K $16.44/SF
− OpEx
−$10.1K −$4.93/SF
NOI
$23.5K $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%
$469,560
Cap Rate 7%
$335,400
Cap Rate 9%
$260,867
Alternative Uses
Best Use
Multifamily LT 5
$335.4K
$293.5K – $391.3K
NOI $23,478 @ 7.0% cap · market cap 4.79%
Second Best
Apartment 5plus
$308.0K
$269.5K – $359.4K
NOI $21,561 @ 7.0% cap · market cap 4.40%
Theoretical Best
Office B
$371.8K
$325.3K – $433.8K
NOI $26,025 @ 7.0% cap · market cap 5.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
1,038
Businesses Nearby
Explore this area
Business Placement
Demographics for 80631, CO
52,336
Population
18,871
Households
2.8
Avg Household Size
29
Median Age
18%
College-Educated
73%
High-School Grad
103.6 sq mi
ZIP Area
505
Density / Sq Mi
$52,470
Median Household Income
$33,062
Median Earnings
$1,209
Median Rent
$300,400
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?
Quadplex - Four one-bedroom residences with improvements completed in three units and additional renovation potential in the remaining unit.
Where is this quadplex located?
The property is located at 710 15th Ave Ct Greeley, CO.
What is the asking price?
The asking price for this property is $490,000.
What are key features of this property?
This property features: Four‑unit configuration with four 1‑bedroom, 1‑bathroom units; 2,040 square feet on a 0.1‑acre site; Three units have updated kitchens, bathrooms, flooring, faucets, and interior paint
