2916 Glen Dale Dr Evans, CO 80620
- Commercial real estate
- 13,088 SF
Current Use by Public Records
- Commercial real estate
Property Details for 2916 Glen Dale Dr
- Year built
- 1973
- Property size
- 13,088 SF
- Property type
- Commercial real estate
Description
This exceptional investment opportunity presents an 18-unit apartment complex in Evans, Colorado, situated on a 25,061 square foot lot. The property, built in 1973, comprises three two-story buildings totaling 13,088 square feet. Currently boasting a 5.87% cap rate and a $140,770 net operating income (NOI), a pro-forma analysis projects a 6.99% cap rate and a $167,680 NOI, showcasing significant value-add potential. The asking price is $2,400,000, translating to $185 per square foot and $133,333.33 per unit. All 18 units are individually deeded, providing investors with enhanced flexibility. The unit mix includes fifteen two-bedroom, one-bathroom units and three one-bedroom, one-bathroom units. Its prime location offers convenient access to the University of Northern Colorado (less than a mile away) and the Greeley Mall (five minutes away). This well-maintained property presents a compelling opportunity for investors seeking to capitalize on a proven renovation strategy and acquire an asset below replacement cost within a thriving market. The property is classified as a Class C multifamily 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
- Evans
- County
- Weld
- State
- Colorado
- Longitude
- -104.69305508553
- Latitude
- 40.39020410457
