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    1425 Atchison Ave Trinidad, CO 81082

    For Sale
    $3,200,000

    24-Unit Apartment Complex, 7% Cap Rate

    Property size:
    26,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    362
    This exceptional multifamily investment opportunity presents a 24-unit apartment building situated on a 1.7-acre lot in Trinidad, Colorado. The property, built in 1995, consists of three buildings totaling 26,000 square feet and offers a compelling 7.00% capitalization rate with a current Net Operating Income (NOI) of $223,848. The complex comprises ten 1,000-square-foot two-bedroom units and fourteen 1,200-square-foot three-bedroom units, generating a gross monthly rent of $31,250. Recent capital improvements include a new roof (2022) and a modern steel handrail system, showcasing the property's well-maintained condition. An assumable loan of $1,519,000 is available at a 3.87% interest rate. Annual property taxes are $8,000, and the annual insurance premium is $28,000. The property's location just west of downtown Trinidad offers proximity to recreational amenities such as Fishers Peak State Park and Lake Trinidad, as well as Trinidad State College, contributing to a strong rental demand. Trinidad's lower cost of living compared to national and state averages further enhances the property's investment appeal, presenting potential for rent increases through conversion to workforce housing. The expansive mountain views add to the property's desirability. This is an ideal investment for those seeking immediate income and long-term capital appreciation. The asking price for this exceptional property is $3,200,000.

    Property Features for 1425 Atchison Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    26,000 SF
    Lot Size
    74,052 SF

    Building Details

    Year Built
    1995
    Buildings
    3
    Units
    24
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Realty agency Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Building Supply Gym & Fitness Auto Repair Shop Pharmacy

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

    Location Insight

    • Map
    • Local Demand
    City
    Trinidad
    County
    Las Animas
    State
    Colorado
    Longitude
    -104.52728953666
    Latitude
    37.169179039345

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    FAQs

    What type of property is this?
    Multifamily property - 24-Unit Apartment Complex, 7% Cap Rate
    Where is this multifamily property located?
    The property is located at 1425 Atchison Ave Trinidad, CO.
    What is the asking price?
    The asking price for this property is $3,200,000.
    Request Owner's contact information
    1425 Atchison Ave Trinidad, CO 81082
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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
    1425 Atchison Ave Trinidad, CO 81082
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