3011 17Th Ave Longmont, CO 80503

This exceptional investment opportunity presents a six-unit multifamily property located at 3011 17th Ave, Longmont, Colorado, 80503. The property boasts a charming brick exterior and comprises six two-bedroom, one-and-a-half-bathroom apartments, totaling 6,720 square feet on a 0.28-acre lot. Built in 1977, the two-story building has undergone partial renovations, enhancing its appeal and value. Upgrades include new countertops, bathrooms, windows, flooring, and in-unit laundry facilities in select units, increasing tenant satisfaction and rental income potential. Ample parking is available for residents. The property currently generates a NOI of $73,092, representing a 4.57% cap rate. Pro-forma projections indicate a NOI of $84,287 and a 5.27% cap rate, showcasing significant upside potential. Offered at $1,600,000, this translates to a price per unit of $266,666.67 and a price per square foot of $238.10. This well-maintained property in Boulder County presents a compelling investment opportunity with strong cash flow and growth prospects in a desirable Longmont location. The property's attractive features, combined with its strategic location and renovation updates, make it an ideal addition to any investment portfolio.