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708-724 Cedar Creek Ave 5 Unit Apartment Building $1,950,000 ($390,000/Unit) 7.37% Cap Rate Montrose, CO 81401

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Investment Highlights

Opportunity Zone

Executive Summary

Firm on Price due to appraised value, but will entertain offers over asking. We are pleased to exclusively offer the opportunity to purchase this newly built apartment complex in Montrose, CO. Completed in early 2023, this 5+5 unit building is fully occupied and perfect for any investor looking to invest in a stabilized asset with long-term growth potential. The apartment complex comprises five 580 square foot studio apartments, and five 1160 square foot two bedroom one bath units. Montrose lacks a supply of newly built multifamily, boasts an average household income of +$70,000 and is projected to grow consistently in the coming years according to the Housing Study the City of Montrose published.

Offering Memorandum Cedar Creek

Financial Summary (Actual - 2025)	Annual	Annual Per SF
Gross Rental Income	$193,680	$22.26
Other Income	-	-
Vacancy Loss	$9,684	$1.11
Effective Gross Income	$183,996	$21.15
Taxes	$5,900	$0.68
Operating Expenses	$33,168	$3.81
Total Expenses	$39,068	$4.49
Net Operating Income	$144,928	$16.66

Financial Summary (Actual - 2025)

Gross Rental Income
Annual	$193,680
Annual Per SF	$22.26

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	$9,684
Annual Per SF	$1.11

Effective Gross Income
Annual	$183,996
Annual Per SF	$21.15

Taxes
Annual	$5,900
Annual Per SF	$0.68

Operating Expenses
Annual	$33,168
Annual Per SF	$3.81

Total Expenses
Annual	$39,068
Annual Per SF	$4.49

Net Operating Income
Annual	$144,928
Annual Per SF	$16.66

Property Facts

Price	$1,950,000	Building Class	C
Price Per Unit	$390,000	Lot Size	0.33 AC
Sale Type	Investment	Building Size	8,700 SF
Cap Rate	7.37%	Average Occupancy	100%
Gross Rent Multiplier	10.84	No. Stories	3
No. Units	5	Year Built	2023
Property Type	Multifamily	Parking Ratio	1.72/1,000 SF
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	R-4 High Density - R-4 High Density Multi-Family, Opportunity Zone

Price	$1,950,000
Price Per Unit	$390,000
Sale Type	Investment
Cap Rate	7.37%
Gross Rent Multiplier	10.84
No. Units	5
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.33 AC
Building Size	8,700 SF
Average Occupancy	100%
No. Stories	3
Year Built	2023
Parking Ratio	1.72/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	R-4 High Density - R-4 High Density Multi-Family, Opportunity Zone