1650 29Th Avenue Pl, Unit | Greeley Greeley, CO 80634
- Commercial real estate
- 14,031 SF
Current Use by Public Records
- Chateau Terrace Apartments / Apartment Complex
Property Details for 1650 29Th Avenue Pl
- Year built
- 1979
- Property size
- 14,031 SF
- Property type
- Commercial real estate
Description
This meticulously renovated 13-unit apartment building, Chateau 29, is situated in West Greeley, Colorado, at 1650 29th Ave Pl, 80634. Built in 1979, this three-story building boasts 14,031 square feet on a 23,444 square foot lot. The property features a mix of unit types including one studio, two one-bedroom/one-bathroom units, and ten spacious two-bedroom/one-and-a-half-bathroom units. Recent upgrades include a new roof, resurfaced parking lot, upgraded boiler, fresh exterior paint, renovated stairwells, and updated landscaping. Interior renovations are equally impressive, with each unit showcasing high-end stainless steel appliances, quartz countertops, new bathrooms, recently replaced windows and flooring, and in-unit laundry facilities. The property offers a compelling investment opportunity with a current NOI of $150,356 and a pro-forma NOI of $171,161, translating to a current cap rate of 5.57% and a pro-forma cap rate of 6.34%. The asking price is $2,700,000, representing a price per unit of $207,692.31 and a price per square foot of $192.43. Its prime location provides easy access to major highways, diverse retail and business districts, parks, and entertainment options. This property presents a strong value proposition for investors seeking a well-maintained, high-performing multifamily asset in a desirable location.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Greeley
- County
- Weld
- State
- Colorado
- Longitude
- -104.7280486293
- Latitude
- 40.413352237517
