1425 Atchison Avenue
$2,800,000 (Sale)
1425 Atchison Avenue, Trinidad, CO 81082
Property Details
- Property Type: Multifamily
- Building Size: 26,000 SF
- Lot Size: 1.7 Acres
Overview
The Evergreen Apartments is a 24-unit multi-family property located just west of downtown Trinidad, Colorado.
The Evergreen is well maintained and has recently received capital improvements including the installation of a modern steel handrail system, and a new roof (2022). The Evergreen is positioned for an investor seeking current income and long-term capital appreciation. The property is an immediate 8.00% cap rate with the ability to raise rents by converting units to service shorter term “Workforce Housing.”
Originally constructed in 1995, the 3-building complex sits on 1.7 acres and boasts expansive 360 degree mountain views. The property has 24 apartments – (10) two-bedroom units and (14) three-bedroom units. The 2 bedroom units are 1,000 sf and the 3 bedroom units are 1,200 sf. The current gross monthly rent is $32,189. There is an assumable loan in the amount of $1,500,000 at 3.87% interest rate. Annual property taxes are $8,000 and the annual property insurance premium is $28,000.
Contact Kenny Juarbe at (719) 237-6065 for more information.
Highlights
- Quick Access to I-25
- Assumable Loan at 3.87%
- Large Units, (10) 2 Bed/1 Bath 1,000 SF , (14) 3 Bed/1 Bath 1,200 SF
- Recent Capex Expenditures (Roof, Outer Steel, Parking Lot)
- High Occupancy
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