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1320 7th Ave

Greeley, CO 80631
  • $795,000
  • STATUS: Active
  • ON SITE: 36 Days
  • MLS #: 1001816
UPDATED: 34 min ago
$795,000
  • 5
    BEDS
  • 0.11
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 4,180
    SQFT
  • $190
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1902
County:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

Pleased to present the opportunity to purchase The Magnolia, a six unit apartment building in Greeley, Colorado. The apartments are conveniently located within minutes from Downtown Greeley and the University of Northern Colorado with easy access to the rest of Greeley one block from 8th Avenue/State Highway 85 Business Route. Desirable unit mix of two 2 Bedroom, 1 Bath and four 3 Bedroom, 1 Bath Units. Property renovated including updated facade, landscaping, interior updates, individual forced air heating and hot water. Leasing upside with current in-place rent of $1.46/SF with survey 2 Bed / 1 Bath units at $1.50/SF and 3 Bed / 1 Bath units at $1.61/SF. Low current in-place price per bedroom of $382/bed. Low maintenance finishes and landscaping for low ongoing operating costs. Additional income opportunity to add coin operated laundry to the existing laundry room not currently being utilized. Opportunity to increase rents by fencing in and amenitizing backyard/back of lot.

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© 2024 Information and Real Estate Services, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Daniels Group Real Estate. Data last updated: 2024-02-24T10:42:45.937.

Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.
www.thedanielsgrouprealestate.com/homes/146748553
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1320 7th Ave Greeley, CO 80631

  • Price: $795,000
  • Status: Active
  • On Site: 36 Days
  • Updated: 34 min ago
  • MLS #: 1001816
5
Beds
2
Baths
0
½ Baths
0.11
Acres
4,180
SQFT
$190
$/SQFT
1902
Built
Neighborhood:
None
County:
Weld
Area:
10 Weld County (all)
Elementary School:
Maplewood
Middle School:
Heath
High School:
Northridge
School District:
Greeley 6
Property Description
Pleased to present the opportunity to purchase The Magnolia, a six unit apartment building in Greeley, Colorado. The apartments are conveniently located within minutes from Downtown Greeley and the University of Northern Colorado with easy access to the rest of Greeley one block from 8th Avenue/State Highway 85 Business Route. Desirable unit mix of two 2 Bedroom, 1 Bath and four 3 Bedroom, 1 Bath Units. Property renovated including updated facade, landscaping, interior updates, individual forced air heating and hot water. Leasing upside with current in-place rent of $1.46/SF with survey 2 Bed / 1 Bath units at $1.50/SF and 3 Bed / 1 Bath units at $1.61/SF. Low current in-place price per bedroom of $382/bed. Low maintenance finishes and landscaping for low ongoing operating costs. Additional income opportunity to add coin operated laundry to the existing laundry room not currently being utilized. Opportunity to increase rents by fencing in and amenitizing backyard/back of lot.
Exterior Features

Construction Materials Wood/FrameBrick/Brick Veneer Exterior Features LightingBalcony Fencing Partial Horse YN No Levels Two Lot Features CurbsGuttersSidewalksMineral Rights IncludedLevel Property Attached YN Yes Road Frontage Type City Street Road Surface Type PavedAsphalt Roof Composition Spa YN No View City Waterfront YN No

Interior Features

Appliances Electric Range/OvenDishwasherRefrigerator Basement Full90%+ Finished Basement Heating Baseboard Heating YN Yes Laundry Features Common Area Living Area Source Assessor Unit1 Bedrooms 2 Unit1 Est Sq Ft 697 Unit1 Total Baths 1 Unit2 Bedrooms 3 Unit2 Est Sq Ft 697 Unit2 Total Baths 1

Property Features

Association Fee Includes Trash Association YN No Cap Rate 7.91 Ditches Active YN No Electric ElectricXcel Gas Natural GasAtmos Gross Income 84506.4 Has Improvements No Has Water Rights No Income Includes Lease/RentsCommon Area FeesLaundry Listing Sub Status None Listing Terms CashConventional Locale Greeley Net Operating Income 62860.4 New Construction YN No Operating Expense 21646 Possible Use Multi-Family Property Condition Not NewPreviously Owned Property Sub Type Attached Dwelling Senior Community YN No Sewer City Sewer Special Listing Conditions Private Owner Tax Annual Amount 4438 Tax Year 2023 Tenant Pays ElectricityWaterSewer Unit1 Rent 1050 Unit2 Rent 1050 Utilities Natural Gas AvailableElectricity Available Water Source City WaterCity of Greeley Zoning C-H

Listing information © 2024 Information and Real Estate Services
Listing provided courtesy of Wayne Lewis of LC Real Estate Group, LLC: 3035888808.



© 2024 Information and Real Estate Services, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Daniels Group Real Estate. Data last updated: 2024-02-24T10:42:45.937.

Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.
 
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