Updated Brick Fourplex Investment
2132 27th Ave Ct Greeley, CO 80634
For Sale
$1,199,900
Updated fourplex with great tenants and revenue potential.
Property Size9,072 SF
Price / SF$132.26
Days on Market97
Property Features for 2132 27th Ave Ct
General Information
Standard status
Active
Size
9,072 SF
Property subtype
Investment
Building Details
Year Built
1983
Listing Agency:
Hitch Realty LLC
(970) 581-9795
Listed By:
Ifiok Udowana
(970) 581-9795
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Jul 28 at 2:34PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Hitch Realty LLC
Investment Insights
Based on property information with market context.
This updated brick fourplex presents an investment opportunity in a desirable location. The property is well-maintained and fully rented with tenants in place. Units A and B are currently rented below market value at $1700, offering potential for increased revenue. Unit C is rented for $2000, and Unit D is rented for $2075. Each unit features an identical floor plan, including a bright and open main floor with a fireplace and half bathroom, three bedrooms and a spacious bathroom upstairs, and a large unfinished basement. Each unit provides 2268 square feet of living space, along with an attached garage, patio, and outdoor space, all set within mature landscaping. Units C and D have been updated, while the remaining units are move-in ready. The property is located close to multiple parks, the university, hospitals, shopping, and offers easy access to Highway 34. The location has a bike score of 58, indicating it is bikeable, and a walk score of 45, suggesting car dependence.
Key Highlights
- High‑return investment property with all units currently rented by reliable tenants.
- Opportunity to increase revenue by raising rents on units A and B to market value.
- Potential for instant equity by deeding units separately, with comparable units selling for $360k-$380k+ each.
Financial Insights For Multifamily LT 5
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 | $157.9k | $17.40 |
| − Vacancy | −$8.7k | −$0.96 |
| EGI | $149.2k | $16.44 |
| − OpEx | −$44.7k | −$4.93 |
| NOI | $104.4k | $11.51 |
9,072 SF · lease $17.40/SF/yr · vacancy 5.51% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$1.49M
$1.31M – $1.74M
NOI $104,409 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$1.37M
$1.20M – $1.60M
NOI $95,884 @ 7.0% cap · market cap 7.99%
Theoretical Best
Office B
$1.65M
$1.45M – $1.93M
NOI $115,736 @ 7.0% cap · market cap 9.65%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use
Frequently Asked Questions
What type of property is this?
Quadplex - Updated fourplex with great tenants and revenue potential.
Where is this quadplex located?
The property is located at 2132 27th Ave Ct Greeley, CO.
What is the asking price?
The asking price for this property is $1,199,900.
What are key features of this property?
This property features: High‑return investment property with all units currently rented by reliable tenants.; Opportunity to increase revenue by raising rents on units A and B to market value.; Potential for instant equity by deeding units separately, with comparable units selling for $360k-$380k+ each.
