807 37Th Ave Greeley, CO 80634
- Residential income homes
- 4,680 SF
Current Use by Public Records
- Residential income homes
Property Details for 807 37Th Ave
- Year built
- 1979
- Property size
- 4,680 SF
- Property type
- Residential income homes
Description
This exceptional investment opportunity presents a meticulously renovated five-unit multifamily portfolio situated at 807-813 37th Avenue in Greeley, Colorado. The property boasts a total of 4,690 square feet of net rentable space, spread across two two-story buildings constructed in 1979 and extensively renovated in 2023. Each of the five units features two bedrooms and 1.5 bathrooms, encompassing 936 square feet, complete with a carport and outdoor patio. Recent upgrades include new luxury vinyl plank flooring, carpeting, vanities, countertops, and lighting fixtures throughout. The property benefits from a 100% occupancy rate, generating a strong net operating income (NOI) of $49,770, resulting in a compelling 4.98% cap rate. The asking price is $1,000,000, or $200,000 per unit, and the price per square foot is $214. The property sits on a sizable 16,509 square foot lot and is professionally managed under a homeowner's association (HOA). The HOA fee of $400 per unit per month covers water, sewer, gas, electricity, snow removal, trash service, and exterior maintenance, minimizing operational burdens for the owner. This turnkey investment offers a blend of modern amenities, strong rental income, and low-maintenance operation, making it an attractive addition to any real estate portfolio. The property is classified as Class B with a modified lease type and features a new parking lot.
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
- Greeley
- County
- Weld
- State
- Colorado
- Longitude
- -104.74
- Latitude
- 40.4248
