501 W 1st St
- $3M T12 Revenue Historically Consistent
- $500k PIP Just Completed, No Transfer of Ownership PIP
- 9% Cap in Place, 10.6%++ Cap Year 1
- $195K Per Key, Significantly Below Replacement Cost
- Parking Revenue Started 2026, 120k+ in NOI Increase Year 1
Property Description
Introducing an exceptional investment opportunity at 501 W 1st St, Glenwood Springs, CO, 81601. This impressive property, featuring 64 units, is a prime prospect for Hospitality/Full Service investors. Built in 1998 and recently renovated in 2023, it combines modern comfort with timeless appeal. With a $3M T12 Revenue historically consistent, a $500K PIP just completed, and a 9% Cap in place, this property offers tremendous potential for profit. Additionally, the property boasts a $195K per key price significantly below replacement cost, and parking revenue commencing in 2026, resulting in a substantial increase in NOI (Net Operating Income) year 1."
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Hospitality |
| No. of Units: | 64 |
| Year Built: | 1998 |
| Lot Size: | 1.28 Acres |
| Opportunity Zone: | No |
| Property Website | Click Here |
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