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Big Horn Apartments 3201 Riverside Dr 40 Unit Apartment Building $7,400,000 ($185,000/Unit) 6.35% Cap Rate Idaho Springs, CO 80452
Investment Highlights
- Well-maintained property with excellent unit mix
- Individual patios or balconies
- $75,000 Heat Exchanger (2025)
- Heated pool, sauna, and workout room on property
- Covered parking
- Tenants enjoy clear creek running on the South side of the property
Executive Summary
The Big Horn Apartments is a distinctive multifamily property located in the heart of Idaho Springs. With quick access to I-70, this property offers unbeatable connectivity to Denver, the Front Range, and Colorado’s top mountain destinations, making it an ideal location for long-term residents seeking mountain-town charm with regional accessibility.
Providing high-quality living, the property consists of studio, 1-bedroom/1- bath, and 2-bedroom/2-bath units. All units feature spacious bathrooms and offer private patios or balconies. Situated on nearly 2 acres with Clear Creek running on the South side of the building, the property includes a range of amenities such as a heated pool, sauna, recreation room, workout room, and inviting common areas. Ample parking is available with several covered spaces available for an extra charge.
Providing high-quality living, the property consists of studio, 1-bedroom/1- bath, and 2-bedroom/2-bath units. All units feature spacious bathrooms and offer private patios or balconies. Situated on nearly 2 acres with Clear Creek running on the South side of the building, the property includes a range of amenities such as a heated pool, sauna, recreation room, workout room, and inviting common areas. Ample parking is available with several covered spaces available for an extra charge.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$738,073
|
$20.83
|
| Taxes |
$18,569
|
$0.52
|
| Operating Expenses |
$270,406
|
$7.63
|
| Total Expenses |
$288,975
|
$8.15
|
| Net Operating Income |
$449,098
|
$12.67
|
Financial Summary (Actual - 2024)
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $738,073 |
| Annual Per SF | $20.83 |
| Taxes | |
|---|---|
| Annual | $18,569 |
| Annual Per SF | $0.52 |
| Operating Expenses | |
|---|---|
| Annual | $270,406 |
| Annual Per SF | $7.63 |
| Total Expenses | |
|---|---|
| Annual | $288,975 |
| Annual Per SF | $8.15 |
| Net Operating Income | |
|---|---|
| Annual | $449,098 |
| Annual Per SF | $12.67 |
Property Facts
| Price | $7,400,000 | Building Class | C |
| Price Per Unit | $185,000 | Lot Size | 1.99 AC |
| Sale Type | Investment | Building Size | 35,438 SF |
| Cap Rate | 6.35% | Average Occupancy | 95% |
| No. Units | 40 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1974 |
| Property Subtype | Apartment | Parking Ratio | 3.06/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 - R-3 | ||
| Price | $7,400,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 6.35% |
| No. Units | 40 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.99 AC |
| Building Size | 35,438 SF |
| Average Occupancy | 95% |
| No. Stories | 3 |
| Year Built | 1974 |
| Parking Ratio | 3.06/1,000 SF |
| Zoning | R-3 - R-3 |
Amenities
Unit Amenities
- Dishwasher
- Disposal
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Fitness Center
- Laundry Facilities
- Pool
- Sauna
- Tenant Controlled HVAC
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 400 |
| 1+1 | 18 | - | 551 |
| 2+2 | 18 | - | 845 - 909 |
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Property Taxes
| Parcel Number | 1833-313-00-003 | Total Assessment | $248,910 |
| Land Assessment | $22,890 | Annual Taxes | $18,569 ($0.52/SF) |
| Improvements Assessment | $226,020 | Tax Year | 2024 |
Property Taxes
Parcel Number
1833-313-00-003
Land Assessment
$22,890
Improvements Assessment
$226,020
Total Assessment
$248,910
Annual Taxes
$18,569 ($0.52/SF)
Tax Year
2024
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Big Horn Apartments | 3201 Riverside Dr
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