Wiggins Triplex: Income
407 E Corona Ave, Wiggins, CO 80654
MULTI_FAMILY - Contemporary - Wiggins, CO
Property size:
3,356 SFLot size:
0.48 AcresPrice / SF:
$193/SF- Added:
- Apr 13, 2026
- Days on Market:
- 60
- Last Refresh:
- Jun 10 at 11:06 pm
Property Features for 407 E Corona Ave
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Zoning
- Residentia
- Bedrooms
- 5
- Bathrooms
- 3
- Rooms
- Bedroom 3, Bathroom 2, Bathroom 1, Bedroom 1, Bathroom 3, Bedroom 5, Basement, Bedroom 2, Bedroom 4
- Parking
- 9
- Window features
- Window Coverings
- Patio and Porch features
- Patio, Deck
- Exterior features
- Sprinkler System, Balcony
- Basement
- Partially Finished
- Appliances
- Electric Range, Gas Range, Dishwasher, Refrigerator, Microwave, Water Softener Owned
- Standard status
- Active
- APN
- 122311302001
- Size
- 3,356 SF
- Lot size
- 0.48 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 2923
Utilities
- Utilities
- Natural Gas Available
- Sewer type
- Public Sewer
- Heating system
- Forced Air
- Cooling system
- Ceiling Fan(s), Central Air
Building Details
- Year built
- 1970
- Floors in Building
- 2
- Number of units
- 3
- Building materials
- Frame
- Roof type
- Composition
- Architectural style
- Contemporary
- Additional Structures
- Storage
Listing agent Amanda Robinson (303) 912-4904
Listing office LPT Realty, LLC. 5660 Greenwood Plaza Bivd Suite 410, Pierce, CO (877) 366-2213
Listing date Apr 13, 2026
MLS# 1056483
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.
HighLights
- Immediate cash flow with strong upside potential; current rent is $5175.00 including utilities.
- Two units remodeled with updated kitchens, tile flooring, laminate flooring, and refreshed bathrooms.
- Value‑add opportunity to renovate the remaining original 2‑bedroom unit and increase rental income.
- Large shared deck off the two upper units for outdoor living.
- Abundant parking: six dedicated off‑street spaces plus an oversized two‑car garage.
- Newly refreshed landscaping, fresh sod, and updated sprinkler system enhance curb appeal.
Overview
Located in the North Ridge Addition of Wiggins, this triplex presents an income-producing opportunity with potential for increased revenue. The property features three units: two 2-bedroom, 1-bath units and one 1-bedroom, 1-bath unit. One of the 2-bedroom units and the 1-bedroom unit have been remodeled, including fresh paint, updated kitchens with tile flooring, laminate flooring, and refreshed bathrooms. The remaining 2-bedroom unit is in original condition, offering an opportunity for renovation and increased rental income. A shared deck extends from the two upper units. Exterior features include refreshed landscaping, fresh sod, an updated sprinkler system, and mature trees. Parking includes six off-street spaces, with two spaces per unit, plus an oversized two-car garage. Dedicated tenant storage is also available. The property is situated on a 0.48-acre lot. The property has 3356 square feet of living space. The current rent for all three units combined is $5175.00, which includes utilities.
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 | $51.5k | $15.36 |
| − Vacancy | −$3.4k | −$1.02 |
| EGI | $48.1k | $14.34 |
| − OpEx | −$14.4k | −$4.30 |
| NOI | $33.7k | $10.04 |
3,356 SF · lease $15.36/SF/yr · vacancy 6.65% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$481.2K
$421.1K – $561.4K
NOI $33,684 @ 7.0% cap · market cap 5.18%
Second Best
Apartment 5plus
$432.6K
$378.5K – $504.7K
NOI $30,281 @ 7.0% cap · market cap 4.66%
Theoretical Best
Office A
$982.6K
$859.8K – $1.15M
NOI $68,785 @ 7.0% cap · market cap 10.58%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Location Intelligence
Current Use by Public Records
Triplexes
Location Insight
- Map
- Local Demand
- City
- Wiggins
- County
- Morgan
- State
- Colorado
- Longitude
- -104.069965
- Latitude
- 40.233189
Nearby Similar for Sale
FAQs
What type of property is this?
Triplex - Income-producing triplex in Wiggins with remodeled units and upside potential.
Where is this triplex located?
The property is located at 407 E Corona Ave Wiggins, CO.
What is the asking price?
The asking price for this property is $649,900.
What are key features of this property?
This property features: Immediate cash flow with strong upside potential; current rent is $5175.00 including utilities.; Two units remodeled with **updated kitchens, tile flooring, laminate flooring, and refreshed bathrooms.**; Value‑add opportunity to renovate the remaining original 2‑bedroom unit and increase rental income.
