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    1013 Park Ave Kremmling, CO 80459

    For Sale
    $1,800,000

    18-unit park, high occupancy, value-add.

    Property size:
    33,541 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    361
    This fee-simple mobile home park, Kremmling Central Park, presents a compelling value-add investment opportunity. Located at 1013 Park Ave, Kremmling, CO 80459, this 0.77-acre property boasts 18 units, currently operating at 100% occupancy. Built in 2000, the park features a total of 33,541 square feet and offers significant upside potential. The current Net Operating Income (NOI) is $116,859, yielding a 6.49% cap rate. Pro-forma projections indicate a NOI of $134,333 and a 7.46% cap rate, reflecting the potential for increased profitability through rent adjustments. The asking price is $1,800,000, translating to $53.67 per square foot. Situated conveniently between Summit County and Steamboat Springs, Kremmling benefits from its proximity to major ski resorts and its status as a popular hunting and fishing destination. All utilities are public and billed directly to tenants, minimizing operational expenses. Current rents are below market rates, providing immediate opportunities for rent increases. The park includes 19 tenant-owned homes and one park-owned home. This property offers a rare opportunity to capitalize on the extreme lack of affordable housing in the Kremmling/Steamboat Springs area.

    Property Features for 1013 Park Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    33,541 SF
    Lot Size
    33,541 SF

    Building Details

    Year Built
    2000
    Units
    18

    HighLights

    • Extreme shortage of affordable housing in the Kremmling/Steamboat Springs MSA.
    • Several tenants commute 52 miles to Steamboat Resort, a top 3 Colorado resort.
    • Steamboat Springs median home price exceeds $1.1 million (Realtor.com).
    • Kremmling's location is midway between Summit County and Steamboat Springs.
    • 19 tenant‑owned homes and 1 park‑owned home.
    • All utilities are public and billed directly to tenants.
    Property Profile Location Intelligence

    Current Use by Public Records

    Mobile home & RV ...

    Map

    City
    Kremmling
    County
    Grand
    State
    Colorado
    Longitude
    -106.3827199
    Latitude
    40.0589058

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    FAQs

    What type of property is this?
    Multifamily property - 18-unit park, high occupancy, value-add.
    Where is this multifamily property located?
    The property is located at 1013 Park Ave Kremmling, CO.
    What is the asking price?
    The asking price for this property is $1,800,000.
    What are key features of this property?
    This property features: Extreme shortage of affordable housing in the Kremmling/Steamboat Springs MSA.; Several tenants commute 52 miles to Steamboat Resort, a top 3 Colorado resort.; Steamboat Springs median home price exceeds $1.1 million (Realtor.com).
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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
    1013 Park Ave Kremmling, CO 80459
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