1515 7th Ave
Greeley, CO 80631
Ivanhoe Apartments (Part of Portfolio) · Multifamily Property For Sale · 98 Units

Transwestern has been retained to exclusively represent the sellers of a portfolio of residential real estate in downtown Greeley, Colorado. The portfolio consists of four apartment buildings totaling 98 apartment units and 4 single-family homes. Many of the buildings are held by the original family members who built them. This offering is a true value-add opportunity. Rents at comparable properties with renovated units within the submarket are 31% higher than those currently being achieved. Transwestern has coordinated with several lenders that offer competitive bridge financing for the assets and capital expenditures needed for the value-add business plan. An investor should be able to purchase the portfolio, renovate units upon turns and raise rents for stabilization. Upon stabilization, the investor can recapitalize with more permanent financing or a sale. The Greeley MSA has placed in the top ten for population growth for the last six consecutive years. The area’s strong job growth over the years and affordable homes have made it a magnet for migrants to Colorado. The area promises out-sized returns whether buying for a long-term hold or to renovate and sell to another long-term investor because of the location and demographic metrics. The portfolio is being offered unpriced in a competitive offering to investors. With significant upside in rents in a redeveloping downtown and location close to a university campus, this is an opportunity that should not be overlooked.