Evergreen Apartments: Trinidad Multifamily Investment

1425 Atchison Ave, Trinidad, CO 81082

View on Map

For Sale

Contact for pricing

24-unit multifamily property near downtown Trinidad, Colorado.

Type:Multifamily

Property size:

26,000 SF

Lot size:

1.70 Acres

Price / SF:

$107/SF

HighLights

Immediate 8.00% cap rate provides current income.
Opportunity to increase rents by converting units to short‑term "Workforce Housing."
Assumable loan of $1,500,000 at a low 3.87% interest rate.
Recently updated with a new roof (2022) and modern steel handrail system.
Large units: (10) two‑bedroom units (1,000 sf) and (14) three‑bedroom units (1,200 sf).
Located on 1.7 acres with expansive 360‑degree mountain views.

We can help!

Listing Contact

Holly Trinidad

For Sale

Contact for pricing

24-unit multifamily property near downtown Trinidad, Colorado.

Type:Multifamily

Property size:

26,000 SF

Lot size:

1.70 Acres

Price / SF:

$107/SF

Added:: Nov 19, 2024
Days on Market:: 568
Last Refresh:: May 12 at 10:55 pm

Property Features for 1425 Atchison Ave

General Information

Standard status: Active
Size: 26,000 SF
Lot size: 1.70 Acres
Property subtype: Multifamily

Building Details

Year Built: 1995

We can help!

Listing Contact

Holly Trinidad

Listing agent Holly Trinidad License #CO ER.100022369

Listing office Hoff & Leigh Colorado Springs

Listing date Nov 19, 2024

Source Crexi

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 Hoff & Leigh Colorado Springs

HighLights

Immediate 8.00% cap rate provides current income.
Opportunity to increase rents by converting units to short‑term "Workforce Housing."
Assumable loan of $1,500,000 at a low 3.87% interest rate.
Recently updated with a new roof (2022) and modern steel handrail system.
Large units: (10) two‑bedroom units (1,000 sf) and (14) three‑bedroom units (1,200 sf).
Located on 1.7 acres with expansive 360‑degree mountain views.

Overview

The Evergreen Apartments, a 24-unit multifamily property, is located just west of downtown Trinidad, Colorado. Constructed in 1995, this well-maintained complex comprises three buildings on 1.7 acres, offering expansive 360-degree mountain views. Recent capital improvements include a modern steel handrail system and a new roof installed in 2022. The property features 24 apartments, including 10 two-bedroom units (1,000 square feet each) and 14 three-bedroom units (1,200 square feet each). The current gross monthly rent is $32,189. The property is positioned for investors seeking current income and long-term capital appreciation. There is an assumable loan in the amount of $1,500,000 at 3.87% interest rate. Annual property taxes are $8,000 and the annual property insurance premium is $28,000. The property is an immediate 8.00% cap rate with the ability to raise rents by converting units to service shorter term “Workforce Housing."

Property Profile Location Intelligence

Current Use by Public Records

Apartment buildings

Suggested Use

Location Insight

Map
Local Demand

City: Trinidad
County: Las Animas
State: Colorado
Longitude: -104.527061
Latitude: 37.169456

Nearby Similar for Sale

$950,000

27,177 SF

Commercial Building on Main Street

Expansive commercial property with high visibility and income potential.

422-430 E Main St, Trinidad, CO 81082

View Details
$1,395,000

30,000 SF

Industrial Flex Facility with Yard

Industrial facility with yard space and flexible tenancy options, offering direct access to I-25 for operations and storage.

1105 Constitution, Trinidad, CO 81082

View Details
$639,000

Commercial Building with Established Tenant

Well-maintained commercial property in Trinidad, Colorado, with reliable tenant.

441 University Street, Trinidad, CO 81082

View Details
$639,000

Commercial Building with Established Tenant

Well-maintained commercial property in Trinidad, Colorado, with reliable tenant.

441 University Street, Trinidad, CO 81082

View Details
$299,000

2,014 SF

Turn-Key Restaurant Property

Turn-key restaurant for sale in Trinidad under COM zoning.

1118 Robinson Ave, Trinidad, CO 81082

View Details
$495,000

3,963 SF

Updated Office Space in Trinidad

Updated office building with income potential in downtown Trinidad.

136 W Main St, Trinidad, CO 81082

View Details
$990,000

5,045 SF

Brew Pub & Restaurant Space

Turnkey restaurant and brew pub on 2.39 acres.

516 E Elm St, Trinidad, CO 81082

View Details
$750,000

Updated Commercial Space, Trinidad, CO

Modernized commercial space with flexible layout in downtown Trinidad.

323 N Commercial Street, Trinidad, CO 81082

View Details
$374,900

2,000 SF

Commercial Property in Trinidad, CO

Commercial property for sale in Trinidad, Colorado with 2,000 SF.

431 University Street, Trinidad, CO 81082

View Details
$900,000

4,508 SF

Multi-Unit Property with Expansion Potential

Six-unit property with income, expansion potential, and scenic views.

722 W Jefferson St, Trinidad, CO 81082

View Details
$325,000

14,761 SF

Historic Building in Trinidad, CO

Historic building in the heart of Trinidad, steps from downtown.

401 W Market, Trinidad, CO 81082

View Details
$709,000

5,376 SF

Renovated Restaurant Space in Trinidad

Turn-key restaurant with income and flexible second floor.

443 N Commercial St, Trinidad, CO 81082

View Details

For sale
Apartment buildings
CO
Trinidad
81082
1425 Atchison Ave

What type of property is this?

Apartment building - 24-unit multifamily property near downtown Trinidad, Colorado.

Where is this apartment building located?

The property is located at 1425 Atchison Ave Trinidad, CO.

What is the asking price?

The asking price for this property is $2,800,000.

What are key features of this property?

This property features: Immediate 8.00% cap rate provides current income.; Opportunity to increase rents by converting units to short‑term "Workforce Housing."; Assumable loan of $1,500,000 at a low 3.87% interest rate.