2947 Glendale Drive
- MOTIVATED SELLER - BRING ANY AND ALL OFFERS
Property Description
MOTIVATED SELLER - BRING ANY AND ALL OFFERS 2947 Glendale Drive is a six-unit multifamily property located in Evans, Colorado. The unit mix consists of one 1 bed 1 bath unit, as well as five 2 bed 1 bath units. The property features several recent upgrades, including a new roof, new gutters, new boiler, new exterior stairwells, and updated landscaping. The investment opportunity sits just 1 mile south of the University of Northern Colorado, and less than a mile east of Greeley Mall. With an in-place cap rate of 7.04%, this property already offers solid returns. Additionally, further interior and exterior renovations, including updating the five unrenovated units, present an opportunity to significantly raise rents, potentially driving returns to an approximate 9% cash-on-cash return. This makes 2947 Glendale Drive a great investment for value-add investors.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $765,000 |
| No. of Units: | 6 |
| Year Built: | 1971 |
| Lot Size: | 0.24 Acres |
| Opportunity Zone: | No |
| Price per unit: | $127,500 |
| Property Website | Click Here |
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