2173 35Th Avenue Ct Greeley, CO 80634

Property Details for 2173 35Th Avenue Ct

Year built

2012

Lot size

0.33 lot acres

Property size

4,772 SF

Property type

Commercial real estate

Description

This meticulously maintained 2012-built quadplex in central Greeley, CO offers a compelling investment opportunity. The property features four identical 2-bedroom, 2-bathroom units, each with an eat-in kitchen, in-unit laundry, gas fireplace, and enclosed balcony. Each unit also includes two dedicated off-street parking spaces. Situated on a 0.33-acre lot at the end of a cul-de-sac, the property enjoys a tranquil setting with easy access to Hwy 34, Greeley West High School, West Lake Village Shopping Center, Greeley West Park, Greeley Lake West Reservoir, and major medical centers. Its proximity to the University of Northern Colorado further enhances its appeal. The property boasts 4,772 square feet of net rentable space, currently 75% occupied, generating a NOI of $53,496 (pro-forma NOI of $56,000). The asking price is $1,125,000 ($281,250 per unit, $235.75 per square foot), representing a 4.76% cap rate (pro-forma 4.98%). All four units are currently leased until June 23, 2025. The seller is offering a rate buy-down incentive to enhance immediate cash flow. The property is zoned R-4. This is a turnkey investment in a high-growth market with projected increases in property values and rents.