223 Main St
- Unique owner-user investment opportunity featuring a single-family home and income-producing triplex on one lot
- Live in the main house while the triplex income helps offset the mortgage, or operate all four units as a single rental portfolio
- Current rents are significantly below market, creating substantial upside for an incoming owner
- Single-family home currently rents for $1,790/month with market rent estimated at $2,500/month
- Triplex currently generates $1,800/month, with market rents estimated at $2,700/month
- Stabilized monthly rental income of $5,200, representing approximately 44.8% upside from current rents
- Can be purchased As-Is or part of a Mobile Home Park Collection consisting of 75 units also in Meeker, CO
Property Description
223 Main Street pairs a single family home with a three-unit income property on one lot in downtown Meeker — a layout that works equally well for an owner-occupant looking to offset their mortgage or an investor building a small rental portfolio. Every unit on the property is currently rented below today's market. As leases turn, inplace rents have room to climb toward stabilized levels, creating a clear, near-term path to increased cash flow without new construction or major capital improvements. At full stabilization, the property is projected to produce $5,200/month in combined rent — a 44.8% increase over current in-place income.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | 2-4 Units |
| Price: | $615,000 |
| No. of Units: | 4 |
| Year Built: | 1950 |
| Lot Size: | 0.54 Acres |
| Opportunity Zone: | No |
| Price per unit: | $153,750 |
| Property Website | Click Here |
Investment Analyzer
Sponsored by:
Step 1Financing Calculation
Step 2Gross Rent Analysis
Please enter annual amounts.
Step 3Final Deal Analysis
Similar Properties in the Area
1980 Zephyr Way lot: 1980 Zephyr Way
Sparks, NevadaBrokers
View All-
Remax Professionals
Re/Max Real Estate Professionals | New York
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Eamonn McConnell
Avison Young - CA - ON - Greater Toronto
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout