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Glendale Apartments 2916-2924 Glen Dale Dr 18 Unit Apartment Building $2,200,000 ($122,222/Unit) 6.96% Cap Rate Evans, CO 80620
INVESTMENT HIGHLIGHTS
- Well-Maintained 18 Unit Property in Evans, CO
- Less Than One Mile to the University of Norther Colorado
- Ideal Unit Mix with 15 - 2Br/1Ba and 3 - 1Br/1Ba Units
- Value-Add Upside Through Additional Unit Renovations
- 5 Minutes to the Greeley Mall
- Just $129,167/unit for Mostly 2 Bedroom Units!
EXECUTIVE SUMMARY
PRICE REDUCTION! 7% Actual CAP Rate. The Glendale Apartments is an 18 unit (3 – six unit buildings), value-add apartment complex located in Evans, CO. This well-maintained asset offers investors the opportunity to add additional value through a proven renovation strategy and acquire the property at a basis well below replacement cost. All 18 units are individually deeded, offering an investor additional flexibility on the backend.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$246,528
|
$18.95
|
| Other Income |
$24,402
|
$1.88
|
| Vacancy Loss |
$12,326
|
$0.95
|
| Effective Gross Income |
$258,604
|
$19.88
|
| Taxes |
$7,038
|
$0.54
|
| Operating Expenses |
$98,437
|
$7.57
|
| Total Expenses |
$105,475
|
$8.11
|
| Net Operating Income |
$153,129
|
$11.77
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $246,528 |
| Annual Per SF | $18.95 |
| Other Income | |
|---|---|
| Annual | $24,402 |
| Annual Per SF | $1.88 |
| Vacancy Loss | |
|---|---|
| Annual | $12,326 |
| Annual Per SF | $0.95 |
| Effective Gross Income | |
|---|---|
| Annual | $258,604 |
| Annual Per SF | $19.88 |
| Taxes | |
|---|---|
| Annual | $7,038 |
| Annual Per SF | $0.54 |
| Operating Expenses | |
|---|---|
| Annual | $98,437 |
| Annual Per SF | $7.57 |
| Total Expenses | |
|---|---|
| Annual | $105,475 |
| Annual Per SF | $8.11 |
| Net Operating Income | |
|---|---|
| Annual | $153,129 |
| Annual Per SF | $11.77 |
PROPERTY FACTS
| Price | $2,200,000 | Apartment Style | Low-Rise |
| Price Per Unit | $122,222 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 6.96% | Building Size | 13,008 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 18 | Year Built | 1973 |
| Property Type | Multifamily | Parking Ratio | 3.84/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Zoning | Residential, Evans | ||
| Price | $2,200,000 |
| Price Per Unit | $122,222 |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 13,008 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Parking Ratio | 3.84/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Residential, Evans |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Heating
- Kitchen
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | - | 496 |
| 2+1 | 15 | - | 760 |
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Glendale Apartments | 2916-2924 Glen Dale Dr
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