1213 12th Street Greeley CO 80631 239369070 40.42023 -104.69877 60105 /listing/239369070-151082055/1213-12th-street-greeley-co-80631 False 0 1950000.0 11626 105 100 20 7130391 False 1910 0.44 0.44

1213 12th Street

Greeley, CO 80631 MLS# 7130391

Active 05/14/19
239369070 False False 40.42023 -104.69877 60105 /listing/239369070-151082055/1213-12th-street-greeley-co-80631 False 0 1950000.0 11626 105 20 7130391 False 45351237 0
$1,950,000
MLS# 7130391
Active 05/14/19
  • 20 Bath Baths
  • 11,626 Square Feet Sq.Ft
  • 0.44 Acres
  • 1910 Year Built Yr. Built

1213 12th Street

Greeley, CO 80631 MLS# 7130391

Active 05/14/19
239369070 40.42023 -104.69877 60105 /listing/239369070-151082055/1213-12th-street-greeley-co-80631 False 0 1950000.0 11626 105 20 7130391 False
$1,950,000
  • 20 Bath
  • 11,626 Square Feet
  • 0.44 Acres
  • 1910 Year Built

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Description

The Kensington is a classic 19-unit apartment building with a single-family home (20 total units) built in 1910 close to the University of Northern Colorado the downtown of the Northeast City of Greeley. The property features eight distinct floor plans composed of studios, one-bedrooms, two-bedrooms and a sole four-bedroom unit apartment. The single family home is two-bedrooms and has one bathroom. The property has a strong in-place cap rate of 6.2% with opportunity for value add. Strong fundamentals such as low vacancy and a high tenant retention over many years of owner-management has proven this asset as a top performer among the competitive set. Some units in the property have newer kitchens, appliances, flooring, paint/texture, window coverings, and mostly updated electrical. Although some units have been updated, a new owner will be able to step in and make improvements as they see fit to increase top line revenue.

Courtesy Of Berkadia Real Estate Advisors LLC

Listing Information

  • Property Type: Income
  • Property Subtype: Income
  • Style: Multi-Story
  • Architecture: Victorian
  • Locale: Greeley City
  • SqFt Finished: 10873
  • SqFt Above: 8615
  • SqFt Basement: 3011
  • PSF Above Grade: 226.35
  • PSF Finished: 179.34
  • PSF Total: 167.73
  • Lot Size Sq Ft: 19000.00
  • Total Acres: 0.44
  • PPA: 4431818.18
  • Construction: Frame
  • Construction Materials: Wood Siding
  • Year Built: 1910
  • Building Name: The Kensington Apartments
  • Unit Access: Corridor
  • Additional Information: 1031 Exchange, Income History Available, Income Potential, Tenant Occupied

Interior Features

  • Exclusions: All property owned by tenants
  • Number Of Units Furnished: 0

Unit Info

  • 1 Bedroom

  • Average Rent: 724.00
  • Average SqFt: 510.00
  • Bathrooms: 10
  • Number of Units: 10
  • Unit Type: 1 Bedroom
  • 2 Bedroom

  • Average Rent: 899.00
  • Average SqFt: 657.00
  • Bathrooms: 6
  • Number of Units: 6
  • Unit Type: 2 Bedroom
  • 4+ Bedroom

  • Average Rent: 1000.00
  • Average SqFt: 800.00
  • Bathrooms: 1
  • Number of Units: 1
  • Unit Type: 4+ Bedroom
  • Studio

  • Average Rent: 625.00
  • Average SqFt: 350.00
  • Bathrooms: 3
  • Number of Units: 3
  • Unit Type: Studio

Room Details

  • Basement Finished YN: Y
  • Basement Floor Type: Slab
  • Basement Percent Finished: 75
  • Basement Size: Partial
  • Basement Type: Apartment

Parking/Garage

  • Off-Street

  • Parking Spaces Number Of: 8
  • Parking Type: Off-Street
  • Parking Total Searchable: 8
  • Total Carport Spaces: 0
  • Total Offstreet Spaces: 8
  • Total Reserved Spaces: 0
  • Total RV Spaces: 0

Community/Neighborhood Information

  • Walk Score: 57

HOA

  • HOA YN: N

Financial Considerations

  • Owner Pays Utilities: Gas
  • Tenant Pays: Electricity
  • Utilities Metering: Common Gas, Separate Electric
  • Utilities Paid By Tenant: Direct Billing from Utility
  • Annual Expense Proj: 56278
  • Annual Expenses: 44130
  • Annual Income Proj: 201015
  • Annual Net Income Proj: 144737
  • Gross Income: 168022
  • Net Operating Income: 123892
  • Tax Amount: 4008.00
  • Tax ID: R3038086
  • Tax Year: 2018

Exterior & Lot Features

  • Roof: Composition Shingles
  • Is Incorporated: Y
  • Zoning: Residential High (RH)

Utilities & Green Home Features

  • Cooling: None
  • Heating: Hot Water
  • Heating Fuel: Gas
  • Other HVAC: Central Hot Water

Schools Near 1213 12th Street Greeley, CO

District: Greeley 6
Schools: , Greeley Central

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