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404 State St - Strong Cashflow Multifamily Opportunity 4 Unit Apartment Building Offered at $1,088,943 CAD at a 7.57% Cap Rate Fort Morgan, CO 80701
Investment Highlights
- Back units newly built-out (2024)
- Spacious units with in-unit laundry
- Highly desirable location overlooking Glenn Miller Park
- Located in northern Colorado, one of the fastest-growing regions in the country
Executive Summary
This four-unit multifamily property located at Fort Morgan offers a compelling opportunity for investors seeking stable asset, with positive cash flow, in a growing regional market. The asset benefits from spacious units and consistent rental demand driven by the area’s agricultural, industrial, and service-based employment base. Its manageable size allows for efficient operations while still providing scale beyond single-family rentals. With strong housing demand in the area, the property presents both immediate income and long-term value appreciation.
Property Facts
| Price | $1,088,943 CAD | Lot Size | 0.21 AC |
| Price Per Unit | $272,236 CAD | Building Size | 6,200 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| Cap Rate | 7.57% | No. Stories | 2 |
| No. Units | 4 | Year Built | 1905 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Price | $1,088,943 CAD |
| Price Per Unit | $272,236 CAD |
| Sale Type | Investment |
| Cap Rate | 7.57% |
| No. Units | 4 |
| Property Type | Multifamily |
| Lot Size | 0.21 AC |
| Building Size | 6,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1905 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 3+1.5 | 2 | $2,089 CAD | 1,200 |
| 3+2 | 2 | $2,397 CAD | 1,900 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 122906411014 | Improvements Assessment | $28,984 CAD |
| Land Assessment | $4,000 CAD | Total Assessment | $32,983 CAD |
Property Taxes
Parcel Number
122906411014
Land Assessment
$4,000 CAD
Improvements Assessment
$28,984 CAD
Total Assessment
$32,983 CAD
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404 State St - Strong Cashflow Multifamily Opportunity
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