Well-Maintained Fourplex
For Sale
$625,000
Pending
1937 7th Avenue, Greeley, CO 80631
Turnkey fourplex with professionally managed units and current gross monthly income supported by added garage rental revenue.
Property Size3,392 SF
Days on Market105
Property Features for 1937 7th Avenue
General Information
Standard status
Pending
Size
3,392 SF
Property subtype
Quadruplex
Additional Details
Business Included
Yes
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$3,122
Building Details
Building Size
3,392 SF
Year Built
1910
Listing Agency:
Element Real Estate & Investments
Listed By:
Troy Hiebsch · License #40033228
(970) 229-0700
Source:
Eliselosassore
Added: Jun 24
Changed: Sep 21
Last Checked: Oct 5 at 9:24PM
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 Element Real Estate & Investments
Investment Insights
Based on property information with market context.
This well-maintained fourplex is offered as a turnkey investment and is professionally managed. The property provides four residential units, with current gross monthly income listed at $5,555, including $100 per month in garage rental income. Designed for straightforward ownership, the building is presented as well kept and maintained, with an established rental history.
The property is conveniently located about one block from the University of Northern Colorado, placing it near downtown Greeley and close to shopping, restaurants, parks, and everyday amenities. Bike and walkability scores are also provided, with a bikeScore of 71 (very bikeable) and a walkScore of 62 (somewhat walkable).
For investors seeking a residential income property with ongoing rental operations, this fourplex offers a complete, managed setup. The listing indicates strong occupancy history and consistent tenant demand, and it is positioned to appeal to renters drawn to the university-area location. Please note that 24+ hours notice is required for all showings.
The property is conveniently located about one block from the University of Northern Colorado, placing it near downtown Greeley and close to shopping, restaurants, parks, and everyday amenities. Bike and walkability scores are also provided, with a bikeScore of 71 (very bikeable) and a walkScore of 62 (somewhat walkable).
For investors seeking a residential income property with ongoing rental operations, this fourplex offers a complete, managed setup. The listing indicates strong occupancy history and consistent tenant demand, and it is positioned to appeal to renters drawn to the university-area location. Please note that 24+ hours notice is required for all showings.
Key Highlights
- Year built: 1910 fourplex with current gross monthly income of $5,555
- Garage rental income adds $100 per month to the current gross monthly income
- Professional management in place, offering a straightforward ownership transition
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,038
Cap Rate
6.25%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,760
$780.8K
Cap Rate 7%
$557,686
$557.7K
Cap Rate 9%
$433,756
$433.8K
Market Conditions
NOI Build-Up for 3,392 SF
Gross rent
$59.0K $17.40/SF
− Vacancy
−$3.3K −$0.96/SF
EGI
$55.8K $16.44/SF
− OpEx
−$16.7K −$4.93/SF
NOI
$39.0K $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 Rate 5%
$780,760
Cap Rate 7%
$557,686
Cap Rate 9%
$433,756
Alternative Uses
Best Use
Multifamily LT 5
$557.7K
$488.0K – $650.6K
NOI $39,038 @ 7.0% cap · market cap 6.25%
Second Best
Apartment 5plus
$512.2K
$448.1K – $597.5K
NOI $35,851 @ 7.0% cap · market cap 5.74%
Theoretical Best
Office B
$618.2K
$540.9K – $721.2K
NOI $43,273 @ 7.0% cap · market cap 6.92%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
618
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Turnkey fourplex with professionally managed units and current gross monthly income supported by added garage rental revenue.
Where is this quadplex located?
The property is located at 1937 7th Avenue Greeley, CO.
What is the asking price?
The asking price for this property is $625,000.
What are key features of this property?
This property features: Year built: 1910 fourplex with current gross monthly income of $5,555; Garage rental income adds $100 per month to the current gross monthly income; Professional management in place, offering a straightforward ownership transition
