5750 20Th St Greeley, CO 80634

Property Details for 5750 20Th St

Year built

1988

Property size

12,903 SF

Property type

Residential income homes

Description

This exceptional investment opportunity presents an 11-unit multifamily portfolio located at 5750 W 20th St, Greeley, CO 80634. Comprising two quadplexes and one triplex, this property boasts 12,903 square feet of well-maintained townhome-style units, each featuring two bedrooms and two-and-a-half bathrooms. Built in 1988, these units offer a blend of established infrastructure and significant upside potential. The portfolio benefits from its prime location in West Greeley, a desirable residential area with convenient access to retail amenities, schools, parks, and entertainment options. Each unit includes one parking space. The current asking price is $3,179,000, representing a price per unit of $289,000 and a price per square foot of $246.38. The property currently generates a Net Operating Income (NOI) of $109,377, translating to a 3.44% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $129,042 and a 4.06% cap rate, indicating substantial room for improvement and increased profitability. The property is part of a well-managed HOA encompassing 20 buildings and 29 units within the development, ensuring a cohesive and well-maintained community. The unique structure of this portfolio, combining triplex and quadplex buildings, presents a compelling opportunity for value enhancement through individual unit renovations and potential resale as separate townhomes. This presents a strong value-add opportunity for discerning investors seeking a high-return multifamily investment in a thriving Colorado market.

Location Insight

City

Greeley

County

Weld

State

Colorado

Longitude

-104.772

Latitude

40.4066