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Prime 11-Unit Multi-Family Investment 122 E 1st St 11 Unit Apartment Building $950,000 ($86,364/Unit) 6.67% Cap Rate Cortez, CO 81321
Executive Summary
"Adobes On Ash” is a rare chance to own one of Cortez, Colorado’s most historic and stable multi-family assets.
This 11-unit income-producing property offers a 6.67% cap rate, long-term tenant stability, and unbeatable downtown walkability just one block off Main Street. Currently 100% occupied with Central Business District zoning, exceptional visibility, and confirmed additional development potential, this property delivers both dependable returns today and strong upside for future growth.
Located in a thriving Southwest Colorado community with almost zero rental vacancy, this is the ideal investment for buyers seeking reliable cash flow and long-term appreciation.
Listing ID: 05099-830219
This 11-unit income-producing property offers a 6.67% cap rate, long-term tenant stability, and unbeatable downtown walkability just one block off Main Street. Currently 100% occupied with Central Business District zoning, exceptional visibility, and confirmed additional development potential, this property delivers both dependable returns today and strong upside for future growth.
Located in a thriving Southwest Colorado community with almost zero rental vacancy, this is the ideal investment for buyers seeking reliable cash flow and long-term appreciation.
Listing ID: 05099-830219
Property Facts
| Price | $950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $86,364 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.49 AC |
| Cap Rate | 6.67% | Building Size | 7,383 SF |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1940/2005 |
| Property Subtype | Apartment | Parking Ratio | 4.06/1,000 SF |
| Zoning | Multi-Family | ||
| Price | $950,000 |
| Price Per Unit | $86,364 |
| Sale Type | Investment |
| Cap Rate | 6.67% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.49 AC |
| Building Size | 7,383 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1940/2005 |
| Parking Ratio | 4.06/1,000 SF |
| Zoning | Multi-Family |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Picnic Area
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 10 | - | 600 |
1 1
Walk Score®
Very Walkable (85)
Property Taxes
| Parcel Number | R009589 | Improvements Assessment | $52,595 |
| Land Assessment | $7,123 | Total Assessment | $59,718 |
Property Taxes
Parcel Number
R009589
Land Assessment
$7,123
Improvements Assessment
$52,595
Total Assessment
$59,718
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Prime 11-Unit Multi-Family Investment | 122 E 1st St
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