Evergreen Apartments: Trinidad Multifamily
For Sale
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1425 Atchison Ave, Trinidad, CO 81082
24-unit multifamily property near downtown Trinidad, Colorado.
Property Size26,000 SF
Lot Size1.70 Acres
Price / SF$107.69
Days on Market640
Property Features for 1425 Atchison Ave
General Information
Standard status
Active
Size
26,000 SF
Lot size
1.70 Acres
Property subtype
Multifamily
Zoning
G-LDR
Building Details
Year Built
1995
Listing Agency:
Hoff & Leigh Colorado Springs
(719) 630-2277
Listed By:
Holly Trinidad · License #CO ER.100022369
Source:
Crexi
Added: Nov 19, 2024
Changed: Aug 21
Last Checked: May 12 at 10:55PM
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 Hoff & Leigh Colorado Springs
Investment Insights
Based on property information with market context.
The Evergreen Apartments, a 24-unit multifamily property, is located just west of downtown Trinidad, Colorado. Constructed in 1995, this well-maintained complex comprises three buildings on 1.7 acres, offering expansive 360-degree mountain views. Recent capital improvements include a modern steel handrail system and a new roof installed in 2022. The property features 24 apartments, including 10 two-bedroom units (1,000 square feet each) and 14 three-bedroom units (1,200 square feet each). The current gross monthly rent is $32,189. The property is positioned for investors seeking current income and long-term capital appreciation. There is an assumable loan in the amount of $1,500,000 at 3.87% interest rate. Annual property taxes are $8,000 and the annual property insurance premium is $28,000. The property is an immediate 8.00% cap rate with the ability to raise rents by converting units to service shorter term “Workforce Housing."
Key Highlights
- Immediate 8.00% cap rate provides current income.
- Opportunity to increase rents by converting units to short‑term "Workforce Housing."
- Assumable loan of $1,500,000 at a low 3.87% interest rate.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
76
Businesses Nearby
Explore this area
Business Placement
Demographics for 81082, CO
12,026
Population
6,121
Households
2
Avg Household Size
46
Median Age
17%
College-Educated
91%
High-School Grad
768.2 sq mi
ZIP Area
16
Density / Sq Mi
$54,788
Median Household Income
$37,237
Median Earnings
$915
Median Rent
$219,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - 24-unit multifamily property near downtown Trinidad, Colorado.
Where is this apartment building located?
The property is located at 1425 Atchison Ave Trinidad, CO.
What is the asking price?
The asking price for this property is $2,800,000.
What are key features of this property?
This property features: Immediate 8.00% cap rate provides current income.; Opportunity to increase rents by converting units to short‑term "Workforce Housing."; Assumable loan of $1,500,000 at a low 3.87% interest rate.
