Six-Unit Apartment
2937 State Farm Rd Evans, CO 80620
2937 State Farm Rd, Evans, CO, 80620
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For Sale
Contact for pricing
Six-unit apartment building with one one-bedroom and five two-bedroom units on a lot with off-street parking and carports.
Property Size4,500 SF
Price / SF$177.56
Days on Market86
Property Features for 2937 State Farm Rd
General Information
- Standard status
- Active
- Size
- 4,500 SF
- Property subtype
- Multifamily
Building Details
- Year Built
- 1971
Listing agency
Unique Properties, Inc
(214) 616-2695
Listed by
Elliott Polanchyck · License #CO
Source
Crexi
Added: Apr 27 Updated: Jul 21 at 2:40AM Checked: Jul 21 at 5:45AM
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, Inc
Investment Insights
Based on property information with market context.
This six-unit apartment building offers a mix of layouts, including one one-bedroom unit and five two-bedroom, one-bath units. The property has undergone minor renovations, including new windows, new flooring, and new bathrooms.
Set on a 13,242-square-foot lot, the building provides plenty of off-street parking and carports. The property is listed for sale at 2937 State Farm Rd in Evans, CO, and is described as conveniently located about one mile from the University of Northern Colorado.
The current configuration is a residential income property with opportunities for continued interior and exterior improvements, as noted in the remarks.
Set on a 13,242-square-foot lot, the building provides plenty of off-street parking and carports. The property is listed for sale at 2937 State Farm Rd in Evans, CO, and is described as conveniently located about one mile from the University of Northern Colorado.
The current configuration is a residential income property with opportunities for continued interior and exterior improvements, as noted in the remarks.
Key Highlights
- 6‑unit apartment building with 4,500 SF total living area
- Unit mix: 1 one‑bed unit and 5 two‑bed, 1‑bath units
- 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 | $91.8k | $20.40 |
| − Vacancy | −$5.3k | −$1.18 |
| EGI | $86.5k | $19.22 |
| − OpEx | −$38.9k | −$8.65 |
| NOI | $47.6k | $10.57 |
4,500 SF · lease $20.40/SF/yr · vacancy 5.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$679.5K
$594.5K – $792.7K
NOI $47,562 @ 7.0% cap · market cap 5.95%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$820.1K
$717.6K – $956.8K
NOI $57,409 @ 7.0% cap · market cap 7.19%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Six-unit apartment building with one one-bedroom and five two-bedroom units on a lot with off-street parking and carports.
Where is this apartment building located?
The property is located at 2937 State Farm Rd Evans, CO.
What is the asking price?
The asking price for this property is $799,000.
What are key features of this property?
This property features: 6‑unit apartment building with 4,500 SF total living area; Unit mix: 1 one‑bed unit and 5 two‑bed, 1‑bath units; Built in 1971
