Residential Income Property for
For Sale
$765,000
2947 Glendale Drive, Evans, CO 80620
For sale residential income property at 2947 Glendale Drive in Evans, CO, with a motivated-seller posture and open-offer invitation.
Property Size4,448 SF
Days on Market122
Property Features for 2947 Glendale Drive
General Information
Standard status
Active
Size
4,448 SF
Property subtype
Multifamily
Building Details
Building Size
4,448 SF
Year Built
1971
Listing Agency:
Unique Properties, Inc
Listed By:
Greg Knott · License #FA.001312096
(303) 521-3648
Source:
Uniqueprop
Added: Jun 25
Changed: Oct 13
Last Checked: Oct 23 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
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This for-sale residential income property is offered with a motivated-seller note requesting that buyers bring any and all offers. The available information classifies the asset within the residential income and other multifamily property categories, indicating a structure designed to support multiple residential units.
The property is located at 2947 Glendale Drive in Evans, Colorado 80620. No additional details were provided regarding unit mix, current occupancy, building condition, or on-site amenities, so prospective buyers should plan to verify all aspects of the property during due diligence.
For investors and owner-occupants evaluating income-focused multifamily holdings, the next step is to review the property’s actual layout and financial and operational details. Because the listing does not specify rents, lease terms, or improvements, buyers should confirm current performance, utility arrangements, and any deferred maintenance or required capital items. Interested parties may also want to coordinate early access for inspection and underwriting given the seller’s open-offer request.
The property is located at 2947 Glendale Drive in Evans, Colorado 80620. No additional details were provided regarding unit mix, current occupancy, building condition, or on-site amenities, so prospective buyers should plan to verify all aspects of the property during due diligence.
For investors and owner-occupants evaluating income-focused multifamily holdings, the next step is to review the property’s actual layout and financial and operational details. Because the listing does not specify rents, lease terms, or improvements, buyers should confirm current performance, utility arrangements, and any deferred maintenance or required capital items. Interested parties may also want to coordinate early access for inspection and underwriting given the seller’s open-offer request.
Key Highlights
- Residential income property for sale at 2947 Glendale Drive, Evans, CO
- Year built: 1971
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$47,012
Cap Rate
6.15%
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 6.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office B
$810.6K
$709.3K – $945.8K
NOI $56,745 @ 7.0% cap · market cap 7.42%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
616
Businesses Nearby
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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?
Multifamily property - For sale residential income property at 2947 Glendale Drive in Evans, CO, with a motivated-seller posture and open-offer invitation.
Where is this multifamily property located?
The property is located at 2947 Glendale Drive Evans, CO.
What is the asking price?
The asking price for this property is $765,000.
What are key features of this property?
This property features: Residential income property for sale at 2947 Glendale Drive, Evans, CO; Year built: 1971
