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- LoopNet Team
502 Kochia Way
Sterling, CO 80751
J Tab Rentals, LLC · Multifamily Property For Sale
·
12,980 SF
INVESTMENT HIGHLIGHTS
- Longer term tenants, lots are clean, nice appearance shows pride in ownership. Storage units are better than a storage facility provides.
- Demand for affordable housing is high in community. Sterling is Logan County seat and is a hub for North East Colorado
- Easy access to commuter streets, but units are on quiet streets.
PROPERTY FACTS
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Trash Pickup - Curbside
- Storage Space
ABOUT 502 KOCHIA WAY , STERLING, CO 80751
Back on market, no issues with the property itself. Mobile Home Park: 29 lots, park owns 10 mobile homes of which 6 are vacant. 3 lots are vacant. Each lot has a 10'x12' stick built storage unit with roll up door. All lots are on separate meters for gas, electric, water and sewer. City of Sterling is water and sewer provider. Excel Energy is gas and electric. Property is well maintained. The property is under performing with no increases in rents for a number of years. CAP rate is ProForma showing increases to market rates. Most of the lots are 50' x 125', fenced, well cared for properties. City streets are paved except Jonquil Street that is gravel but is also city maintained. Property shows well. Sale includes three seasoned notes (on mobile homes only) that will transfer to new owner. Notes total $22K @ 10% interest, payoff in 2020, 2021, & 2022.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 29 | - | - |
