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Milagro Apartments 902 Greenwood Ave 5 Unit Apartment Building $599,000 ($119,800/Unit) 8.91% Cap Rate Canon City, CO 81212
Executive Summary
Excellent Investment Opportunity! Well established income property featuring five 1-bedroom, 1-bathroom apartments. This turnkey investment offers steady cash flow and additional income potential with two rentable garage spaces. Tenants enjoy the convenience of an on-site coin-operated laundry facility, providing added value and supplemental revenue for ownership. Located near downtown Canon City, the property offers easy access to shopping, dining, employment and local amenities, making it an attractive option for renters. Whether you're expanding your portfolio of looking for your first multifamily investment, this property combines proven income performance, desirable amenities and a convenient location.
Property Facts
| Price | $599,000 | Building Class | C |
| Price Per Unit | $119,800 | Lot Size | 0.21 AC |
| Sale Type | Investment | Building Size | 3,336 SF |
| Cap Rate | 8.91% | Average Occupancy | 100% |
| No. Units | 5 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1898 |
| Property Subtype | Apartment | Parking Ratio | 0.6/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $599,000 |
| Price Per Unit | $119,800 |
| Sale Type | Investment |
| Cap Rate | 8.91% |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 3,336 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1898 |
| Parking Ratio | 0.6/1,000 SF |
| Zoning | R-3 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 5+5 | 5 | - | - |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Moderately bikeable
60/100
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Milagro Apartments | 902 Greenwood Ave