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    1550 18Th St Greeley, CO 80631

    For Sale
    $1,200,000

    Three-unit rental property, high NOI.

    Property size:
    4,914 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    364
    This exceptional investment opportunity presents a three-unit multifamily portfolio situated on a generous 2.57-acre lot in Greeley, Colorado. The property boasts a total of 4,914 square feet of net rentable space, spread across three distinct buildings. The main home, a 1,500-square-foot modular structure built in 1999, features three bedrooms and two bathrooms. A second home offers 1,467 square feet of living space on the main level, plus an additional 2,047 square feet of finished basement space, totaling 3,514 square feet, and includes three bedrooms and two bathrooms. The third unit comprises 900 square feet with two bedrooms and one bathroom. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $67,590, representing a 5.63% cap rate. The asking price is $1,200,000, translating to $244.20 per square foot and $400,000 per unit. The property is zoned C-1, offering significant flexibility for future development or expansion. Additional income streams are generated from eleven RV spaces and a 1,000-square-foot storage shed. The strategic location on Highway 34 and 18th Street provides excellent accessibility. The land value alone is $10.72 per square foot. This property presents a compelling investment opportunity with strong potential for future growth and income generation, particularly suitable for owner-users seeking additional storage or shop space. The property's pro-forma gross income is $82,200 with expenses of $13,206.

    Property Features for 1550 18Th St

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,914 SF
    Class
    B
    Lot Size
    111,949 SF

    Building Details

    Year Built
    1999
    Buildings
    3
    Stories
    1
    Units
    3

    HighLights

    • Strong pro forma NOI of $67,590 based on $82,200 gross income and $13,206 expenses.
    • Additional storage space available.
    • Potential for an added shop space, ideal for owner‑occupancy or rental income.
    • Excellent suitability for trucking or mechanical businesses.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Residential income homes

    Suggested Use

    Realty agency Hair Salon Building Supply Auto Repair Shop Wholesale Shop Auto Parts Store Department Store Kitchen & Bath Food Market HVAC Service

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Greeley
    County
    Weld
    State
    Colorado
    Longitude
    -104.65501771061
    Latitude
    40.410154816243

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    FAQs

    What type of property is this?
    Multifamily property - Three-unit rental property, high NOI.
    Where is this multifamily property located?
    The property is located at 1550 18Th St Greeley, CO.
    What is the asking price?
    The asking price for this property is $1,200,000.
    What are key features of this property?
    This property features: Strong pro forma NOI of $67,590 based on $82,200 gross income and $13,206 expenses.; Additional storage space available.; Potential for an added shop space, ideal for owner-occupancy or rental income.
    Request Owner's contact information
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1550 18Th St Greeley, CO 80631
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