6-Unit Apartment
For Sale
$810,000
2927 State Farm Rd, Evans, CO 80620
Residential Income, Evans, CO
Property Size4,448 SF
Lot Size0.28 Acres
Price / SF$182.10
Days on Market107
Property Features for 2927 State Farm Rd
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
Res
Bedrooms
11
Bathrooms
6
Full bathrooms
6
Rooms
Bedroom 5, Bathroom 1, Bedroom 3, Bedroom 9, Bedroom 8, Bedroom 4, Bedroom 6, Bedroom 7, Bedroom 11, Bathroom 4, Bedroom 1, Bedroom 10, Bathroom 2, Bathroom 3, Bathroom 6, Basement, Bathroom 5, Bedroom 2
Parking
6
Interior features
Eat-in Kitchen
Exterior features
Sprinkler System, Balcony
Basement
Full, Partially Finished
Appliances
Electric Range, Dishwasher, Refrigerator
Subdivision
Lakeshore 3rd Add
Lot features
Native Grass, Level, House Faces West, Mineral Rights Excluded
View
City
Elementary school
Jackson
Middle school
John Evans
High school
Greeley West
Elementary school district
Greeley 6
Middle school district
Greeley 6
High school district
Greeley 6
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)
Water source
Public
Building Details
Year built
1971
Number of units
6
Building materials
Brick
Roof type
Composition
Listing Agency:
CENTURY 21 Cornerstone
(970) 842-2444
Listed By:
Stacey Martindale · License #100017993
(970) 380-3996
Added: Jul 3
Changed: Oct 17
Last Checked: Oct 17 at 1:06PM
MLS# 1063318
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.
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Investment Insights
Based on property information with market context.
At 2927 State Farm Rd in Evans, this 4,448-square-foot apartment building contains six units. Five apartments have two bedrooms and one bathroom; the remaining apartment has one bedroom and one bathroom. The 0.28-acre property includes a 780-square-foot covered carport with capacity for approximately 5–6 vehicles, as well as additional off-street parking.
Built in 1971, the brick building has balconies and a sprinkler system. Electric ranges, dishwashers, and refrigerators are included. Heating is provided by a hot-water system, with ceiling fans for cooling. The property has public water and public sewer, and natural gas is available.
Built in 1971, the brick building has balconies and a sprinkler system. Electric ranges, dishwashers, and refrigerators are included. Heating is provided by a hot-water system, with ceiling fans for cooling. The property has public water and public sewer, and natural gas is available.
Key Highlights
- Six apartments: five two‑bedroom, one‑bath units and one one‑bedroom, one‑bath unit
- 4,448‑square‑foot building on a 0.28‑acre lot
- 780‑square‑foot covered carport accommodates approximately 5–6 vehicles
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,012
Cap Rate
5.80%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$940,240
$940.2K
Cap Rate 7%
$671,600
$671.6K
Cap Rate 9%
$522,356
$522.4K
Market Conditions
NOI Build-Up for 4,448 SF
Gross rent
$90.7K $20.40/SF
− Vacancy
−$5.3K −$1.18/SF
EGI
$85.5K $19.22/SF
− OpEx
−$38.5K −$8.65/SF
NOI
$47.0K $10.57/SF
Area
Weld County, 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%
$940,240
Cap Rate 7%
$671,600
Cap Rate 9%
$522,356
Alternative Uses
Best Use
Apartment 5plus
$671.6K
$587.7K – $783.5K
NOI $47,012 @ 7.0% cap · market cap 5.80%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$810.6K
$709.3K – $945.8K
NOI $56,745 @ 7.0% cap · market cap 7.01%
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
6
Residential units
Location Intelligence
Trade Area within ½ mile
583
Businesses Nearby
Explore this area
Business Placement
Demographics for 80620, CO
20,975
Population
6,794
Households
3.1
Avg Household Size
30
Median Age
20%
College-Educated
81%
High-School Grad
5.9 sq mi
ZIP Area
3,555
Density / Sq Mi
$71,410
Median Household Income
$40,446
Median Earnings
$1,463
Median Rent
$315,400
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
Frequently Asked Questions
What type of property is this?
Apartment building - Residents have covered and additional off-street parking.
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 $810,000.
What are key features of this property?
This property features: Six apartments: five two‑bedroom, one‑bath units and one one‑bedroom, one‑bath unit; 4,448‑square‑foot building on a 0.28‑acre lot; 780‑square‑foot covered carport accommodates approximately 5–6 vehicles
