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501 Aspen Ave 8 Unit Apartment Building $975,000 ($121,875/Unit) 6.92% Cap Rate Estes Park, CO 80517
INVESTMENT HIGHLIGHTS
- Outstanding rental history with very little turnover
- Walkability
- Central Estes Park Location
EXECUTIVE SUMMARY
Rare opportunity to own an 8 unit multi-family apartment building in the heart of Estes Park! Awesome Income property, Outstanding rental history with very little turnover, this property offers an ideal opportunity for rental income and investment. 8 studio apartments with 325 sq ft. Off street parking and storage lockers for tenants and shared side-yard. Great location with easy access to Rocky Mountain National Park, walkable to downtown, restaurants and breweries, and Rec Center. Great views of Lumpy Ridge. Come check out this solid investment opportunity with great cash flow! Lots of potential!
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$88,406
|
$34.53
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$88,406
|
$34.53
|
| Taxes |
$4,318
|
$1.69
|
| Operating Expenses |
$16,639
|
$6.50
|
| Total Expenses |
$20,957
|
$8.19
|
| Net Operating Income |
$67,449
|
$26.35
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $88,406 |
| Annual Per SF | $34.53 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $88,406 |
| Annual Per SF | $34.53 |
| Taxes | |
|---|---|
| Annual | $4,318 |
| Annual Per SF | $1.69 |
| Operating Expenses | |
|---|---|
| Annual | $16,639 |
| Annual Per SF | $6.50 |
| Total Expenses | |
|---|---|
| Annual | $20,957 |
| Annual Per SF | $8.19 |
| Net Operating Income | |
|---|---|
| Annual | $67,449 |
| Annual Per SF | $26.35 |
PROPERTY FACTS
| Price | $975,000 | Building Class | C |
| Price Per Unit | $121,875 | Lot Size | 0.26 AC |
| Sale Type | Investment | Building Size | 2,560 SF |
| Cap Rate | 6.92% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1910/1993 |
| Property Subtype | Apartment | Parking Ratio | 3.51/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Zoning | RM | ||
| Price | $975,000 |
| Price Per Unit | $121,875 |
| Sale Type | Investment |
| Cap Rate | 6.92% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 2,560 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1910/1993 |
| Parking Ratio | 3.51/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | RM |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- Storage Space
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | $900.00 | 325 |
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PROPERTY TAXES
| Parcel Number | 25303-16-025 | Total Assessment | $62,632 (2025) |
| Land Assessment | $15,745 (2025) | Annual Taxes | $4,318 ($1.69/SF) |
| Improvements Assessment | $46,887 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
25303-16-025
Land Assessment
$15,745 (2025)
Improvements Assessment
$46,887 (2025)
Total Assessment
$62,632 (2025)
Annual Taxes
$4,318 ($1.69/SF)
Tax Year
2024
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501 Aspen Ave
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