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Glendale Apartments 2916-2924 Glen Dale Dr 18 Unit Apartment Building $2,883,489 CAD ($160,194 CAD/Unit) 7.42% Cap Rate Evans, CO 80620
Investment Highlights
- Well-Maintained 18 Unit Property in Evans, CO
- Less Than One Mile to the University of Norther Colorado
- Ideal Unit Mix with 15 - 2Br/1Ba and 3 - 1Br/1Ba Units
- Value-Add Upside Through Additional Unit Renovations
- 5 Minutes to the Greeley Mall
- Just $129,167/unit for Mostly 2 Bedroom Units!
Executive Summary
PRICE REDUCTION! 7.42% Actual CAP Rate. The Glendale Apartments is an 18 unit (3 – six unit buildings), value-add apartment complex located in Evans, CO. This well-maintained asset offers investors the opportunity to add additional value through a proven renovation strategy and acquire the property at a basis well below replacement cost. All 18 units are individually deeded, offering an investor additional flexibility on the backend.
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$334,155
|
$25.69
|
| Other Income |
$33,506
|
$2.58
|
| Vacancy Loss |
$23,391
|
$1.80
|
| Effective Gross Income |
$344,271
|
$26.47
|
| Taxes |
$9,664
|
$0.74
|
| Operating Expenses |
$120,678
|
$9.28
|
| Total Expenses |
$130,342
|
$10.02
|
| Net Operating Income |
$213,929
|
$16.45
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $334,155 |
| Annual Per SF | $25.69 |
| Other Income (CAD) | |
|---|---|
| Annual | $33,506 |
| Annual Per SF | $2.58 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $23,391 |
| Annual Per SF | $1.80 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $344,271 |
| Annual Per SF | $26.47 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,664 |
| Annual Per SF | $0.74 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $120,678 |
| Annual Per SF | $9.28 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $130,342 |
| Annual Per SF | $10.02 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $213,929 |
| Annual Per SF | $16.45 |
Property Facts
| Price | $2,883,489 CAD | Building Class | C |
| Price Per Unit | $160,194 CAD | Lot Size | 0.72 AC |
| Sale Type | Investment | Building Size | 13,008 SF |
| Cap Rate | 7.42% | No. Stories | 1 |
| Sale Condition | 1031 Exchange | Year Built | 1973 |
| No. Units | 18 | Parking Ratio | 3.84/1,000 SF |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | Parcel Number | R4596307 |
| Apartment Style | Low-Rise | ||
| Zoning | Residential, Evans | ||
| Price | $2,883,489 CAD |
| Price Per Unit | $160,194 CAD |
| Sale Type | Investment |
| Cap Rate | 7.42% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 13,008 SF |
| No. Stories | 1 |
| Year Built | 1973 |
| Parking Ratio | 3.84/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | Residential, Evans |
| Parcel Number | R4596307 |
Amenities
Unit Amenities
- Balcony
- Dishwasher
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 3 | - | 496 |
| 2+1 | 15 | - | 760 |
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Glendale Apartments | 2916-2924 Glen Dale Dr
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