1229 10th Street, Greeley, CO 80631 - Presented By: The NoCo Home Team

1229 10th Street Greeley, CO 80631

OFFERING MEMORANDUM

INVESTMENT HIGHLIGHTS Property offers historically low vacancy

Prime location near UNC

High demand for rental units will continue to drive rental increases

970-460-4006 | Team@NoCoHomeTeam.com | www.NoCoHomeTeam.com

PROPERTY SUMMARY Fantastic Investment Opportunity! Continue renting out all four units or live in one unit and rent out the other three units, great option for residential owner occupant financing. Convenient downtown Greeley location less than a mile from the University of Northern Colorado. This two-story 4-plex features two, two bedroom 1 bath units and two, one bedroom 1 bath units. Walk or bike to shopping, schools, and restaurants!

The one bedroom units feature 1 bath, an open concept living, dining, and kitchen area. The two bedrooms units feature 1 full bath, an open concept dining and living area, kitchen, and multiple closets.

Property includes a community laundry area with coin operated washer and dryer. There is room for rental increases for all four units.

Property comes with reserved parking, and ample on street parking.

THE OPPORTUNITY OFFERING TERMS

UNIT MIX

ADDRESS 1229 10th Street Greeley, CO 80631 COUNTY Weld

PROPERTY SIZE: 2,719 SF

1

596 SF 1 Bed | 1 Bath

UNITS: 4

2

708 SF 2 Bed | 1 Bath

PRICE: $625,000

3

635 SF 2 Bed | 1 Bath

4

404 SF 1 Bed | 1 Bath

YEAR BUILT

1885

EXISTING UNITS

4

RENTABLE SF

2,253

LAND AREA (SF)

6,000

STORIES 2 BEDROOMS

6

SIDING Wood Siding, Brick Front Porch ROOFING

Composition

HOA No HOA or Metro District HEATING

Forced Air

UTILITY METERING

Electric & Gas

separately

UNIT FEATURES •

•

• •

Each Unit features Neutral Finishes - Unit 1 has been remodeled featuring new paint, carpet, and tile Each unit has it’s own electric and gas meter, all units share one water meter Forced Air Heat & Ceiling Fans/Room Air Conditioning On-site Community Laundry - Coin-Operated Washer & Dryer Included All units include: refrigerator, electric stove, and microwave

PROPERT Y FEATURES

metered, shared

• •

water meter

• • •

Building features 4 units with a total of 2,719 SF Complex is nestled into an established neighborhood close to shopping, schools, and restaurants No HOA or Metro District Each tenant has 1 reserved off-street parking & access to additional on-street parking Less than a mile from University of Northern Colorado

PARKING 4 reserved off street, additional on-street parking LAUNDRY

Common laundry

space, coin operated washer &

dryer included

FINANCIAL OVERVIEW RENT ROLL Unit

Size

BD

BA

Current Rent

1

596 SF

1

1

$1,050.00

N/A

N/A

2

708 SF

2

1

$1,150.00

4/1/2022

4/3/2023

3

635 SF

2

1

$945.00

7/15/2021

Month to Month

4

404

1

1

$770.00

8/4/2021

1/30/2023

Monthly

$3,915.00

Annual

$46,980.00

Lease Start

Lease Expiration

CASH FLOW & PROJECTION T-12 (annualized)

Gross Potential Income Vacancy (2%) Effective Rental Income

$46,980.00

ProForma

( increasing rents on unit 3 &4 as early as January 2023)

$54,000.00

$939.00 $46,041.00

OPERATING EXPENSES

Property Taxes

$3,126.00

$3,126.00

Insurance

$3,868.00

$3,868.00

Trash & Water

$2,461.00

$2,461.00

OPERATING EXPENSES

$9,455.00

$9,455.00

NET OPERATING INCOME

$37,525.00

$44,545.00

$625,00.00

$625,000.00

6%

7.42%

$156,250.00

$156,250.00

Price Capitalization Rate Price/Unit

The NoCo Home Team Peter Clay, Ian Johnston & Jess Killingsworth Broker Associates Team Cell 970-460-4006 Team@NoCoHomeTeam.com www.NoCoHomeTeam.com

The information on this property was acquired from sources deemed reliable however we do not warrant its accuracy and recommend that all aspects be independently verified by purchaser. © 2022 C3 Real Estate Solutions, LLC.