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Key Details
Sold Price $660,000
Property Type Single Family Home
Sub Type Income Property
Listing Status Sold
Purchase Type For Sale
Subdivision Lakeshore
MLS Listing ID 1017674
Sold Date 10/02/24
Style Tudor
Bedrooms 10
HOA Y/N false
Originating Board IRES MLS
Year Built 1970
Annual Tax Amount $3,308
Lot Size 0.290 Acres
Acres 0.29
Property Description
Check out this fantastic investment opportunity in Evans! This four-unit property offers comfortable living for tenants and profits for the owner. Property under leased - time for a more active owner to bring out the financial capabilities of this investment, with a potential Cap rate of 6.98%. Each unit has a window A/C, and a domestic boiler heats the building. This 4-plex in Northern Colorado is a great investment opportunity with 10 bedrooms and 6 bathrooms, making it the best value in Northern Colorado. Constructed with 80% brick and recently upgraded with a new roof featuring Class 4 shingles, new gutters, fresh paint, and modern garage doors with openers, the property is designed for long-term durability and minimal maintenance. The consistent occupancy rate since 2016, with no vacancies and no need for active listings, underscores its rental solid demand. 2 oversized single-car garages attached to the 3/2 units add further value, making it an ideal choice for tenants seeking convenience and space. Additionally, being 1 block from the charter elementary school attracts families looking for educational opportunities, and 2 blocks from the fantastic Monfort Family Clinic and grocery store creates a walkable environment to enhance its rental appeal. This 4-plex is more than just an investment - it's a pathway to building lasting wealth.
Location
State CO
County Weld
Area Greeley/Weld
Zoning Multifam
Direction Use GPS. This four-plex is on the East side of State Farm Road.
Rooms
Basement None
Interior
Heating Hot Water
Cooling Room Air Conditioner
Window Features Window Coverings
Appliance Self Cleaning Oven
Exterior
Exterior Feature Balcony
Utilities Available Natural Gas Available, Electricity Available
Waterfront false
View City
Roof Type Composition
Street Surface Paved,Asphalt
Porch Patio
Building
Story 2
Sewer City Sewer
Water City Water, City of Greeley
Level or Stories Two
Structure Type Wood/Frame,Brick/Brick Veneer
New Construction false
Schools
Elementary Schools Centennial, Union Colony
Middle Schools Chappelow
High Schools Greeley Central
School District Greeley 6
Others
Senior Community false
Tax ID R3877286
SqFt Source Assessor
Special Listing Condition Private Owner
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Bonnie & Josh Sherman
Broker Associate | FAFA100074934, FA100074801
Broker Associate FAFA100074934, FA100074801