1824 13th Ave 6 Unit Apartment Building $840,000 ($140,000/Unit) 5.90% Cap Rate Greeley, CO 80631

CBRE is pleased to present 1824 13th Ave, a six-unit apartment building in Greeley, Colorado. Constructed in 1927, the property has a diverse mix of one, two and three-bedroom units. The building features on-site storage, and income-producing garage and coin-operated laundry.
The property is located on a large corner lot on a quiet residential street, within walking distance of the University of Northern Colorado. The units have been updated over time, and the property has a class four impact-resistant roof. Through targeted unit updates and renovations, investors can increase rental rates and capitalize on potential storage income to increase net operating income further.
Additionally, the University of Northern Colorado's new College of Osteopathic Medicine will significantly benefit the city of Greeley. Establishing an even stronger medical presence in the city will continue to attract top-tier faculty and researchers, boosting Greeley's intellectual and economic vitality. The college will also create new jobs and stimulate local businesses.
According to a recent economic impact study by Lightcast, it is projected to boost Colorado's economy by $1.4 billion over the next 20 years and generate $84 million in taxpayer benefits. Furthermore, the increased access to high-quality medical education and healthcare services will enhance the overall quality of life for Greeley residents, making 1824 13th Ave and its ideal location a promising investment opportunity now and for years to come.