$1,850,000

1213 12th Street

Greeley CO, 80631

Description

The Kensington is a classic 19-unit apartment building with a single-family home (20 total units) built in 1910 close to the University of Northern Colorado the downtown of the Northeast City of Greeley. The property features eight distinct floor plans composed of studios, one-bedrooms, two-bedrooms and a sole four-bedroom unit apartment. The single family home is two-bedrooms and has one bathroom. The property has a strong in-place cap rate of 6.2% with opportunity for value add. Strong fundamentals such as low vacancy and a high tenant retention over many years of owner-management has proven this asset as a top performer among the competitive set. Some units in the property have newer kitchens, appliances, flooring, paint/texture, window coverings, and mostly updated electrical. Although some units have been updated, a new owner will be able to step in and make improvements as they see fit to increase top line revenue.

Details

MLS#7130391
StyleIndustrial
Sub-TypeResale
StatusActive
Year1910
Days On Site131

Features

SQ Feet11,626
Story(s)1
Units20
ZoningResidential High (RH)

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Area Information

StateCO
CountyWeld
CityGreeley
Zip Code80631
AreaWeld
Listing VS Median (in 80631)
Price:
$1,850,000
low | high
Med:
$289,900
100% of Average
SqFt:
11,626
low | high
Med:
1,792
100% of Average
$ / SqFt:
$159
low | high
Med:
$162
48.335623793436% of Average
On Site:
131
low | high
Med:
18
100% of Average
Listing Updated: 09/21/2019
MLS Number: 7130391
Listing Provided By:
John Laratta  of  Berkadia Real Estate Advisors LLC
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