2725 20Th St Greeley, CO 80634
- Apartment buildings
- 18,888 SF
Current Use by Public Records
- Apartment buildings
Property Details for 2725 20Th St
- Year built
- 1979
- Property size
- 18,888 SF
- Property type
- Apartment buildings
Description
This exceptional investment opportunity presents a 24-unit apartment building in Greeley, Colorado, situated on two parcels totaling 45,600 square feet. The property comprises four brick, two-story six-plex buildings constructed between 1979 and 1980, offering a total of 18,888 square feet of living space. Currently operating with a 5.74% cap rate, this Class C multifamily property presents a significant value-add opportunity. The pro-forma cap rate is projected at 6.40%, indicating substantial potential for increased profitability. Located at 2725 and 2715 W 20th St, Greeley, CO 80634, this property benefits from a prime location in West Greeley, surrounded by townhomes and single-family residences, ensuring high visibility and convenient access to shopping and parks. The property is zoned R-H, and the asking price is $4,700,000, translating to $195,833 per unit. The current net operating income (NOI) is strong, but below-market rents offer a clear path to increase revenue through rent adjustments and the implementation of utility reimbursement programs. This is a rare chance to acquire a well-maintained, multi-unit property with significant upside potential in a desirable location.
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
- -104.727
- Latitude
- 40.4068
