12-Unit Apartment
For Sale
$1,500,000
2459 W 11th St, Greeley, CO 80634
A recently completed capital improvement program updates a building with uniform two-bedroom, one-bath residences.
Property Size11,301 SF
Lot Size0.32 Acres
Price / SF$132.73
Days on Market9
Property Features for 2459 W 11th St
General Information
Standard status
Active
Size
11,301 SF
Lot size
0.32 Acres
Property subtype
Multifamily
Financials
Asking Price
$1,500,000
Average Monthly Rent
$1,126
Units
Unit Mix
12 x 2BR/1BA
Multifamily Units
12
Building Details
Building Size
11,301 SF
Year Built
1970
Buildings
1
Listing Agency:
UNIQUE PROPERTIES LLC
Listed By:
Will McCauley · License #CO #100087986
(781) 733-3732
Source:
Uniqueprop
Added: Oct 7
Changed: Oct 14
Last Checked: Oct 14 at 10:09PM
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 UNIQUE PROPERTIES LLC
Investment Insights
Based on property information with market context.
This 12-unit apartment property in Greeley contains 11,301 square feet, including 7,534 square feet above grade and a finished 3,767-square-foot basement. Constructed in 1970, the building sits on a 0.32-acre lot. Each residence has a two-bedroom, one-bath layout measuring 857 square feet, and the owner recently completed a capital improvement program.
All 12 apartments share the same floor plan, providing a consistent unit mix throughout the property. In-place rents average $1,126 per month, compared with a stated market rent of $1,250; the remarks cite a 10% mark-to-market opportunity as units turn over.
All 12 apartments share the same floor plan, providing a consistent unit mix throughout the property. In-place rents average $1,126 per month, compared with a stated market rent of $1,250; the remarks cite a 10% mark-to-market opportunity as units turn over.
Key Highlights
- 12 apartments, each with two bedrooms and one bathroom
- 11,301 square feet total, including 7,534 square feet above grade and a 3,767‑square‑foot finished basement
- Each unit measures 857 square feet
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$119,443
Cap Rate
7.96%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,388,860
$2.4M
Cap Rate 7%
$1,706,329
$1.7M
Cap Rate 9%
$1,327,144
$1.3M
Market Conditions
NOI Build-Up for 11,301 SF
Gross rent
$230.5K $20.40/SF
− Vacancy
−$13.4K −$1.18/SF
EGI
$217.2K $19.22/SF
− OpEx
−$97.7K −$8.65/SF
NOI
$119.4K $10.57/SF
Area
Greeley, CO
Vacancy
5.80%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,388,860
Cap Rate 7%
$1,706,329
Cap Rate 9%
$1,327,144
Alternative Uses
Best Use
Apartment 5plus
$1.71M
$1.49M – $1.99M
NOI $119,443 @ 7.0% cap · market cap 7.96%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$2.06M
$1.80M – $2.40M
NOI $144,173 @ 7.0% cap · market cap 9.61%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Current Use
Lease Details
12
Residential units
Location Intelligence
Trade Area within ½ mile
1,251
Businesses Nearby
Explore this area
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
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Cap Rate, Value Estimation, Potential NOI and more
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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?
Apartment building - A recently completed capital improvement program updates a building with uniform two-bedroom, one-bath residences.
Where is this apartment building located?
The property is located at 2459 W 11th St Greeley, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 12 apartments, each with two bedrooms and one bathroom; 11,301 square feet total, including 7,534 square feet above grade and a 3,767‑square‑foot finished basement; Each unit measures 857 square feet
