1425 Atchison Ave Trinidad, CO 81082
- Commercial real estate
- 26,000 SF
- 1.70 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 1425 Atchison Ave
- Year built
- 1995
- Lot size
- 1.70 lot acres
- Property size
- 26,000 SF
- Property type
- Commercial real estate
Description
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.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Trinidad
- County
- Las Animas
- State
- Colorado
- Longitude
- -104.52728953666
- Latitude
- 37.169179039345
