863 Main St Rangely, CO 81648
- Multifamily properties
- 19,584 SF
Current Use by Public Records
- Multifamily properties
Property Details for 863 Main St
- Year built
- 1979
- Property size
- 19,584 SF
- Property type
- Multifamily properties
Description
This exceptional investment opportunity presents a well-maintained multi-family complex comprising two buildings located at 863 E Main Street and 125 Darius Street, Rangely, CO 81648. The property encompasses a total of 19,584 square feet and features 24 individual units, each boasting a two-bedroom, one-bathroom layout. Built in 1979, the complex has undergone significant upgrades throughout its history, including a recently paved asphalt parking lot and numerous renovated apartment units. Its prime location near Colorado Northwestern Community College, known for its programs in Dental Hygiene, Aviation, and Park Ranger Training, ensures a consistent stream of tenants and strong rental demand. This translates to a promising investment with significant potential for steady income generation. The property offers a compelling opportunity for investors seeking a well-established, income-producing asset in a desirable location. The existing infrastructure and recent improvements minimize immediate capital expenditure needs, allowing for a swift return on investment. The property's size and unit configuration provide flexibility for future management and potential expansion. This is a rare opportunity to acquire a substantial multi-family property in a growing community. The asking price is $1,800,000.
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
- Rangely
- County
- Rio Blanco
- State
- Colorado
- Longitude
- -108.7905
- Latitude
- 40.08734
