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Prairie Vista Apartments 255 E 8th Ave 12 Unit Apartment Building $1,498,365 CAD ($124,864 CAD/Unit) 5.45% Cap Rate Akron, CO 80720
Investment Highlights
- Each unit has a covered front porch
- Each unit has a single car garage space with garage door opener
- Each unit has an 10'x12' locked storage room
Executive Summary
Very nice seniors 12 plex. Always 100% occupied plus waiting list. All units are 2- bedroom 1 bath (813 sq feet) Includes single car garage with opener and 10x12 lockable storage in garage, forced air heating and a/c, stove, refrigerator, dish washer, garbage disposal with covered front porch. Building located on 1 3/4 acres in county seat (Washington County). Also, includes common areas (recreational): Living room with fireplace, big kitchen for food prep and dining room that seats 30 or more. Owners provide water and trash. Tenants pay gas and electric.
Financial Summary (Actual - 2024) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$149,905
|
$13.04
|
| Other Income |
$2,617
|
$0.23
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$152,521
|
$13.26
|
| Taxes |
$4,639
|
$0.40
|
| Operating Expenses |
$83,842
|
$7.29
|
| Total Expenses |
$88,481
|
$7.69
|
| Net Operating Income |
$64,040
|
$5.57
|
Financial Summary (Actual - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $149,905 |
| Annual Per SF | $13.04 |
| Other Income (CAD) | |
|---|---|
| Annual | $2,617 |
| Annual Per SF | $0.23 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $152,521 |
| Annual Per SF | $13.26 |
| Taxes (CAD) | |
|---|---|
| Annual | $4,639 |
| Annual Per SF | $0.40 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $83,842 |
| Annual Per SF | $7.29 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $88,481 |
| Annual Per SF | $7.69 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $64,040 |
| Annual Per SF | $5.57 |
Property Facts
| Price | $1,498,365 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $124,864 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 1.75 AC |
| Cap Rate | 5.45% | Building Size | 11,500 SF |
| Sale Condition | 1031 Exchange | No. Stories | 1 |
| No. Units | 12 | Year Built | 2005 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | N/A - Multi family | ||
| Price | $1,498,365 CAD |
| Price Per Unit | $124,864 CAD |
| Sale Type | Investment |
| Cap Rate | 5.45% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 1.75 AC |
| Building Size | 11,500 SF |
| No. Stories | 1 |
| Year Built | 2005 |
| Opportunity Zone |
Yes |
| Zoning | N/A - Multi family |
Amenities
Unit Amenities
- Air Conditioning
- Wheelchair Accessible (Rooms)
Site Amenities
- 24 Hour Access
- Clubhouse
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 12 | $1,226 CAD | 813 |
1 1
Somewhat walkable
30/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 92017024001 | Total Assessment | $60,095 CAD (2025) |
| Land Assessment | $5,199 CAD (2025) | Annual Taxes | $4,639 CAD ($0.40 CAD/SF) |
| Improvements Assessment | $54,896 CAD (2025) | Tax Year | 2024 |
Property Taxes
Parcel Number
92017024001
Land Assessment
$5,199 CAD (2025)
Improvements Assessment
$54,896 CAD (2025)
Total Assessment
$60,095 CAD (2025)
Annual Taxes
$4,639 CAD ($0.40 CAD/SF)
Tax Year
2024
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Presented by
Frank Hutchison
Prairie Vista Apartments | 255 E 8th Ave
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