1824 7th Ave, Greeley, CO 80631

Property Description

4 UNITS - 7% CAP RATE - REMODELED - $47k ANNUAL GROSS INCOME- Unlock the potential of your real estate portfolio with this strategically positioned fourplex, a lucrative investment opportunity within a stone's throw of the vibrant heartbeat of the UNC campus. Situated in a coveted neighborhood known for its academic energy, this property is not just an investment; it's a gateway to consistent rental income and long-term growth. We're pleased to offer this quadplex located steps from the University of Northern Colorado in a RH Density zoning. Situated a minute's walk from campus grounds, near Union Colony and downtown Greeley, collegiate Jackson Field, and within a short drive from North Colorado Medical Center, this income producing property will appeal to a variety of potential tenants with great marketability. Offering a spacious lot for future additions or development potential, and storage shed with alley access, adds to the attraction. This investment will provide the owner with stable cashflow, as ALL UNITS HAVE BEEN REMODELED IN THE PAST 5 YEARS, ROOF LESS THAN 5 YEARS, EXTERIOR PAINT LESS THAN 5 YEARS. BASEMENT UNIT HAS CONFORMING EGRESS WINDOWS. Unit 1- rented for 1 year at $895, Unit 2- rented for 1 year at $950, Unit 3- rented for 1 year at $1,250, Unit 4- listed for rent at $850. Annual insurance premium is $3,135. Whether you are a seasoned investor looking to diversify your portfolio or a newcomer seeking a solid entry point, this duplex near the university campus stands as a testament to the adage that real estate is about location, and this location is poised for success in the lucrative student housing market. Seize the opportunity to maximize your returns with this prime fourplex investment property.