1425 Atchison Ave Trinidad, CO 81082

The Evergreen Apartments is a 24-unit multi-family property located just west of downtown Trinidad, Colorado. The Evergreen is well maintained and has recently received capital improvements including the installation of a modern steel handrail system, and a new roof (2022). The Evergreen is positioned for an investor seeking current income and long-term capital appreciation. The property is an immediate 8.00% cap rate with the ability to raise rents by converting units to service shorter term “Workforce Housing.” Originally constructed in 1995, the 3-building complex sits on 1.7 acres and boasts expansive 360 degree mountain views. The property has 24 apartments – (10) two-bedroom units and (14) three-bedroom units. The 2 bedroom units are 1,000 sf and the 3 bedroom units are 1,200 sf. The current gross monthly rent is $32,189. There is an assumable loan in the amount of $1,500,000 at 3.87% interest rate. Annual property taxes are $8,000 and the annual property insurance premium is $28,000. Contact Kenny Juarbe at (719) 237-6065 for more information.