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2947 Glen Dale Dr Evans, CO 80620

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For Sale
$780,000

Six-unit multifamily property in Evans, Colorado with value-add potential.

Building Details

Year built
1971

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Listing Contact
Greg Knott
Greg Knott
Source: Tcnworldwide

Listing Agency: Unique Properties, Inc. Listing Agent: Greg Knott

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Evans Multifamily Investment Opportunity

The property at 2947 Glendale Drive is a six-unit multifamily building in Evans, Colorado, featuring one 1-bedroom, 1-bathroom unit and five 2-bedroom, 1-bathroom units. The property has undergone several recent upgrades, including a new roof, new gutters, a new boiler, new exterior stairwells, and updated landscaping. Situated approximately 1 mile south of the University of Northern Colorado and less than a mile east of Greeley Mall, the location offers convenient access to local amenities. With an in-place cap rate of 7.04%, the property provides immediate returns. Further value-add opportunities exist through interior and exterior renovations, particularly by updating the five unrenovated units, which could potentially increase rents and drive returns to an approximate 9% cash-on-cash return. The building contains a total of 4,448 square feet.
Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

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

Location Insight

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City
Evans
County
Weld
State
Colorado
Longitude
-104.6944162
Latitude
40.3909901

FAQs

What type of property is this?
Apartment building - Six-unit multifamily property in Evans, Colorado with value-add potential.
Where is this apartment building located?
The property is located at 2947 Glen Dale Dr Evans, CO.
What is the asking price?
The asking price for this property is $780,000.
What are key features of this property?
This property features: - Value-add opportunity with potential to increase cash-on-cash return to approximately 9% through interior and exterior renovations.; - Solid in-place cap rate of 7.04% offering immediate returns.; - Recent upgrades including a new roof, new gutters, new boiler, and new exterior stairwells.
More about this property
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