3043 17Th Ave Longmont, CO 80503
- Commercial real estate
Current Use by Public Records
- Krolik Creations / Website Designer
Property Details for 3043 17Th Ave
- Year built
- 1971
- Property type
- Commercial real estate
Description
This exceptional eight-unit apartment building presents a compelling investment opportunity in the thriving Longmont, Colorado market. Located at 3043 17th Ave, this Class C property boasts 100% occupancy and a strong pro-forma NOI of $111,961, yielding a 5.60% cap rate at an asking price of $2,000,000 ($250,000 per unit). Built in 1971, the two-story building comprises eight spacious two-bedroom units, each providing ample living space. Convenient on-site amenities include coin-operated laundry, enhancing tenant satisfaction and generating additional income. The property benefits from a prime location in north Longmont, offering easy access to downtown Longmont, Boulder, and major employment centers via Highway 66 and Interstate 25. Residents enjoy proximity to a wealth of retail and entertainment options, as well as recreational areas like McIntosh Lake. A significant advantage is the availability of assumable financing with a fixed interest rate of 3.77% until June 2030, subject to Freddie Mac borrower requirements. This presents a unique opportunity to acquire a stabilized asset with below-market financing in a rapidly growing area, capitalizing on Longmont's robust job market, population growth, and strong housing market fueled by Boulder County's continued expansion. The property's attractive unit mix, desirable location, and advantageous financing structure combine to offer investors a secure and potentially high-return investment.
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
- Longmont
- County
- Boulder
- State
- Colorado
- Longitude
- -105.1446754
- Latitude
- 40.1882791
