Six-Unit Apartment Building with
2927 State Farm Rd Evans, CO 80620
2927 State Farm Rd, Evans, CO, 80620
$879,000
For Sale
$879,000
MULTI_FAMILY - Evans, CO
Property Size4,448 SF
Lot Size0.28 Acres
Price / SF$197.62
Days on Market15
Property Features for 2927 State Farm Rd
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Res
- Bedrooms
- 11
- Bathrooms
- 6
- Rooms
- Bathroom 6, Bedroom 1, Bathroom 1, Bedroom 7, Bedroom 4, Bedroom 11, Bedroom 3, Bedroom 6, Bedroom 8, Bathroom 4, Bedroom 10, Bathroom 2, Bedroom 9, Bedroom 5, Basement, Bathroom 5, Bedroom 2, Bathroom 3
- Parking
- 6
- Interior features
- Eat-in Kitchen
- Exterior features
- Sprinkler System, Balcony
- Basement
- Full, Partially Finished
- Appliances
- Electric Range, Dishwasher, Refrigerator
- Standard status
- Active
- APN
- R3877086
- Size
- 4,448 SF
- Lot size
- 0.28 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 5019
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Heating system
- Hot Water(Heating)
- Cooling system
- Ceiling Fan(s)
Building Details
- Year built
- 1971
- Number of units
- 6
- Building materials
- Brick
- Roof type
- Composition
Listing Agency
CENTURY 21 Cornerstone
(970) 842-2444
930 Main St, Fort Morgan, CO
Listed by
Stacey Martindale
(970) 380-3996
Added: Jul 3 Checked: Jul 17 at 5:06 pm
MLS# 1063318
Listing URL
Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This well-maintained six-unit apartment building offers a practical unit mix of five two-bedroom, one-bath units and one one-bedroom, one-bath unit. On-site parking includes a spacious covered carport totaling approximately 780 square feet, accommodating an estimated 5–6 vehicles, along with additional off-street parking. The property is also equipped with a sprinkler system intended to support landscape maintenance, and all appliances are included with the sale.
The building is located at 2927 State Farm Rd in Evans, Colorado (Weld County; 80620). Its parking configuration is designed to support everyday tenant needs, and the covered portion helps provide weather protection for a portion of resident vehicles.
For investors and operators seeking a multifamily property with an established in-place configuration, the clear unit mix and included appliances can simplify turnover and reduce initial replacement needs. The on-site parking plan, including both covered and additional off-street spaces, supports resident access, while the sprinkler system supports routine landscaping upkeep. This combination of layout, amenities, and included items may appeal to those looking for a ready-to-operate income property.
The building is located at 2927 State Farm Rd in Evans, Colorado (Weld County; 80620). Its parking configuration is designed to support everyday tenant needs, and the covered portion helps provide weather protection for a portion of resident vehicles.
For investors and operators seeking a multifamily property with an established in-place configuration, the clear unit mix and included appliances can simplify turnover and reduce initial replacement needs. The on-site parking plan, including both covered and additional off-street spaces, supports resident access, while the sprinkler system supports routine landscaping upkeep. This combination of layout, amenities, and included items may appeal to those looking for a ready-to-operate income property.
Key Highlights
- 6‑unit apartment building with a unit mix of five 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit
- 780 sq. ft. covered carport with capacity for approximately 5–6 vehicles, plus additional off‑street parking
- Brick construction with a composition roof; built in 1971
Local Financial Insights For Apartment 5plus
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 | $90.7k | $20.40 |
| − Vacancy | −$5.3k | −$1.18 |
| EGI | $85.5k | $19.22 |
| − OpEx | −$38.5k | −$8.65 |
| NOI | $47.0k | $10.57 |
4,448 SF · lease $20.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$671.6K
$587.7K – $783.5K
NOI $47,012 @ 7.0% cap · market cap 5.35%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$810.6K
$709.3K – $945.8K
NOI $56,745 @ 7.0% cap · market cap 6.46%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building in Evans with covered carport parking, sprinkler system, and included appliances.
Where is this apartment building located?
The property is located at 2927 State Farm Rd Evans, CO.
What is the asking price?
The asking price for this property is $879,000.
What are key features of this property?
This property features: 6‑unit apartment building with a unit mix of five 2‑bedroom, 1‑bath units and one 1‑bedroom, 1‑bath unit; 780 sq. ft. covered carport with capacity for approximately 5–6 vehicles, plus additional off‑street parking; Brick construction with a composition roof; built in 1971
