1550 18Th St Greeley, CO 80631

Property Details for 1550 18Th St

Year built

1999

Lot size

2.57 lot acres

Property size

4,914 SF

Property type

Residential income homes

APN

0961103080006

Description

This exceptional investment opportunity presents a three-unit multifamily portfolio situated on a generous 2.57-acre lot in Greeley, Colorado. The property boasts a total of 4,914 square feet of net rentable space, spread across three distinct buildings. The main home, a 1,500-square-foot modular structure built in 1999, features three bedrooms and two bathrooms. A second home offers 1,467 square feet of living space on the main level, plus an additional 2,047 square feet of finished basement space, totaling 3,514 square feet, and includes three bedrooms and two bathrooms. The third unit comprises 900 square feet with two bedrooms and one bathroom. Currently operating at 100% occupancy, the property generates a substantial net operating income (NOI) of $67,590, representing a 5.63% cap rate. The asking price is $1,200,000, translating to $244.20 per square foot and $400,000 per unit. The property is zoned C-1, offering significant flexibility for future development or expansion. Additional income streams are generated from eleven RV spaces and a 1,000-square-foot storage shed. The strategic location on Highway 34 and 18th Street provides excellent accessibility. The land value alone is $10.72 per square foot. This property presents a compelling investment opportunity with strong potential for future growth and income generation, particularly suitable for owner-users seeking additional storage or shop space. The property's pro-forma gross income is $82,200 with expenses of $13,206.