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    863 Main St Rangely, CO 81648

    For Sale
    $1,800,000

    24-Unit Apartment Complex, High Demand

    Property size:
    19,584 SF

    Description

    Added:
    Feb 3, 2025
    Days on Market:
    309
    This exceptional investment opportunity presents a well-maintained multi-family complex comprising two buildings located at 863 E Main Street and 125 Darius Street, Rangely, CO 81648. The property encompasses a total of 19,584 square feet and features 24 individual units, each boasting a two-bedroom, one-bathroom layout. Built in 1979, the complex has undergone significant upgrades throughout its history, including a recently paved asphalt parking lot and numerous renovated apartment units. Its prime location near Colorado Northwestern Community College, known for its programs in Dental Hygiene, Aviation, and Park Ranger Training, ensures a consistent stream of tenants and strong rental demand. This translates to a promising investment with significant potential for steady income generation. The property offers a compelling opportunity for investors seeking a well-established, income-producing asset in a desirable location. The existing infrastructure and recent improvements minimize immediate capital expenditure needs, allowing for a swift return on investment. The property's size and unit configuration provide flexibility for future management and potential expansion. This is a rare opportunity to acquire a substantial multi-family property in a growing community. The asking price is $1,800,000.

    Property Features for 863 Main St

    General Information

    Property type
    Residential income properties
    Square Feet
    19,584 SF

    Building Details

    Year Built
    1979
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Multifamily properties

    Map

    City
    Rangely
    County
    Rio Blanco
    State
    Colorado
    Longitude
    -108.7905
    Latitude
    40.08734

    Nearby Comparable

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      Rangely Commercial Property on Main

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    Nearby Similar for Sale

    • $265,000
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      Rangely Commercial Property on Main

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    • $3,200,000
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      Freestanding Retail Property For Sale

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      Rangely Specialty Property For Sale

      Specialty property available for purchase in Rangely, Colorado.
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    • $375,000

      Rangely Industrial Building - 8.48 Acres

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    FAQs

    What type of property is this?
    Residential income property - 24-Unit Apartment Complex, High Demand
    Where is this residential income property located?
    The property is located at 863 Main St Rangely, CO.
    What is the asking price?
    The asking price for this property is $1,800,000.
    (970) 568-8162
    Request Owner's contact information
    863 Main St Rangely, CO 81648
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    Rangely, CO 81648
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    Realmo Value Estimation

    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.

    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.

    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
    863 Main St Rangely, CO 81648
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