Updated Brick Fourplex Investment
For Sale
$1,199,900
2132 27th Ave Court, Greeley, CO 80634
Updated fourplex with great tenants and revenue potential.
Property Size9,072 SF
Price / SF$132.26
Days on Market331
Property Features for 2132 27th Ave Court
General Information
Standard status
Active
Size
9,072 SF
Property subtype
Residential Income
Taxes and HOA fees
Annual Taxes
$5,943
Amenities
Gas
Electric Range, Dishwasher, Refrigerator, Fire Alarm
Eat-in Kitchen, Pantry, Washer/Dryer Hookup, Shared Bath
Frame
Building Details
Year Built
1983
Listing Agency:
Hitch Realty LLC
Listed By:
Ifiok Udowana · License #100040478
(970) 581-9795
Source:
Compass
Added: Dec 4, 2025
Changed: Oct 25
Last Checked: Oct 30 at 5:19PM
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
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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
Estimated NOI and Cap Rate
NOI / Yr
$104,409
Cap Rate
8.70%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,088,180
$2.1M
Cap Rate 7%
$1,491,557
$1.5M
Cap Rate 9%
$1,160,100
$1.2M
Market Conditions
NOI Build-Up for 9,072 SF
Gross rent
$157.9K $17.40/SF
− Vacancy
−$8.7K −$0.96/SF
EGI
$149.2K $16.44/SF
− OpEx
−$44.7K −$4.93/SF
NOI
$104.4K $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%
$2,088,180
Cap Rate 7%
$1,491,557
Cap Rate 9%
$1,160,100
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.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
453
Businesses Nearby
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Business Placement
Demographics for 80634, CO
65,980
Population
25,802
Households
2.6
Avg Household Size
36
Median Age
32%
College-Educated
90%
High-School Grad
38.3 sq mi
ZIP Area
1,723
Density / Sq Mi
$83,255
Median Household Income
$46,808
Median Earnings
$1,567
Median Rent
$405,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
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 Court 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.
