Four-Unit Multifamily
404 State Street Fort Morgan, CO 80701
404 State Street, Fort Morgan, CO, 80701
$795,000
For Sale
$795,000
Four-unit multifamily in Fort Morgan with spacious units and rental demand supported by local agricultural, industrial, and service employment.
Property Size6,200 SF
Price / SF$128.23
Days on Market23
Property Features for 404 State Street
General Information
- Standard status
- Active
- Size
- 6,200 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1906
Listing agency
Pinnacle Real Estate Advisors
(714) 330-1436
Listed by
Andy Monette · License #100068216
(714) 330-1436
Source
Exitrealty
Added: Jun 30 Updated: Jul 22 at 1:33AM Checked: Jul 22 at 1:33AM
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 Pinnacle Real Estate Advisors
Investment Insights
Based on property information with market context.
This four-unit multifamily property at 404 State Street in Fort Morgan, CO offers a straightforward rental setup with spacious units designed for long-term tenancy. The asset’s manageable size supports efficient day-to-day operations while providing more scale than a single-family rental portfolio.
The property is positioned in a growing regional market, with rental demand attributed to the area’s agricultural, industrial, and service-based employment base. For investors seeking a residential income asset with an established four-unit configuration, this property provides a practical platform to manage and lease multiple units within one building.
As a four-unit structure, it combines multiple income-producing units under one roof and offers a clear, operationally manageable unit count for prospective owners and their brokers to evaluate.
The property is positioned in a growing regional market, with rental demand attributed to the area’s agricultural, industrial, and service-based employment base. For investors seeking a residential income asset with an established four-unit configuration, this property provides a practical platform to manage and lease multiple units within one building.
As a four-unit structure, it combines multiple income-producing units under one roof and offers a clear, operationally manageable unit count for prospective owners and their brokers to evaluate.
Key Highlights
- Four‑unit multifamily property built in 1906
- Spacious unit layouts
- Rental demand supported by local agricultural, industrial, and service‑based employment
Local Financial Insights For Multifamily LT 5
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 | $95.2k | $15.36 |
| − Vacancy | −$6.3k | −$1.02 |
| EGI | $88.9k | $14.34 |
| − OpEx | −$26.7k | −$4.30 |
| NOI | $62.2k | $10.04 |
6,200 SF · lease $15.36/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$889.0K
$777.9K – $1.04M
NOI $62,229 @ 7.0% cap · market cap 7.83%
Second Best
Apartment 5plus
$799.2K
$699.3K – $932.4K
NOI $55,942 @ 7.0% cap · market cap 7.04%
Theoretical Best
Office A
$1.82M
$1.59M – $2.12M
NOI $127,075 @ 7.0% cap · market cap 15.98%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Dan Lewis Insurance
Insurance Agency
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Four-unit multifamily in Fort Morgan with spacious units and rental demand supported by local agricultural, industrial, and service employment.
Where is this quadplex located?
The property is located at 404 State Street Fort Morgan, CO.
What is the asking price?
The asking price for this property is $795,000.
What are key features of this property?
This property features: Four‑unit multifamily property built in 1906; Spacious unit layouts; Rental demand supported by local agricultural, industrial, and service‑based employment
