40.516403 -107.58684
615 Riford Road Craig CO 81625 289463822 40.516403 -107.58684 60105 /listing/289463822-151082055/615-riford-road-craig-co-81625 False 0 3000000.0 41296 101 606 9348404 False 1980 3.80 3.80

615 Riford Road

Craig, CO 81625 MLS# 9348404

Pending 02/24/21 06/10/21

289463822 False False 40.516403 -107.58684 60105 /listing/289463822-151082055/615-riford-road-craig-co-81625 False 0 3000000.0 41296 101 9348404 False 50389854 0
$3,000,000
MLS# 9348404
Pending 02/24/21 06/10/21
  1. Listed on 02/24/21
  • 41,296 Square Feet Sq.Ft
  • 3.80 Acres
  • 1980 Year Built Yr. Built
615 Riford Road Craig, CO 81625 MLS# 9348404
Pending 02/24/21 06/10/21
289463822 40.516403 -107.58684 60105 /listing/289463822-151082055/615-riford-road-craig-co-81625 False 0 3000000.0 41296 101 9348404 False
$3,000,000
  • 41,296 Square Feet
  • 3.80 Acres
  • 1980 Year Built
  1. Listed on 02/24/21
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Description

The Ridgeview Apartments are located 45 minutes west of Steamboat Springs in Craig Colorado. and is in the prime location of Northwest Colorado Hwy 40 and 13, 1/2 way to Salt Lake City from Denver and 1/2 way between I-80 and I-70. The area is a vital bedroom community for the Steamboat and Craig workforces (Coal, oil, natural gas and of course, Tourism being so close to one of the best ski areas in the world and and is the gateway to northwest Colorado recreation. (one of the largest Elk Herds in the world) The Property was constructed in 1980 and consists of 41,296' on 3.80 acres. Seven buildings house the 47 one-, two-, & three-bedroom units. Located on the west side of Craig near trails, the hospital and Walmart Supercenter. Priced at $72.65 PPSF or $63,830 average per unit. Many improvements include the renovation of multiple units and repainting of buildings. Great location with ample parking completes this great investment property. Multiple Listing number 6864278 is also for sale for $2.3M and is owned by the same Seller

Courtesy Of COLORADO GROUP REALTY
Listing Information
  • Property Type: Commercial Sale
  • Property Subtype: Multi-Family
  • Structure Type: Low Rise (1-3)
  • Architecture: Traditional
  • PSF Total: 72.65
  • Price Per Acre: 789473.68
  • Year Built: 1980
  • Year Built Effective: 1980
  • Construction Materials: Concrete, Frame
  • Special Listing Conditions: None Known
  • Current Use: Multi-Family
  • Directions: On the west side of Craig, approx 3/4 mile after Hwy 13 S, take frontage road on the right to Crescent Drive, Right on Riford Road. Complex will be on your right.
  • Building Name: Ridgeview West Apartments
  • Stories: 2
Interior Features
  • Number of Units: 47
  • Occupant Type: Tenant (Multiple)
  • Unit Count: 3
Parking/Garage
  • Parking Total: 0
  • Total Offstreet Spaces: 0
Community/Neighborhood Information
  • Development Name: Craig
  • Walk Score: 7
HOA
  • 2nd HOA Fee (Annual Total): 0.00
  • 3rd HOA Fee (Annual Total): 0.00
  • Master HOA Fee (Annual Total): 0.00
  • Total Annual HOA Fees: 0.00
Financial Considerations
  • Owner Pays Utilities: Gas, Internet, Taxes, Trash Collection, Water
  • Tenant Pays: Cable TV, Electricity
  • Actual Annual Net Income: 229000.00
  • Cap Rate: 7.63
  • Cap Rate Calculation: $229,000 / $3M = %7.63
  • Gross Income: 393262.00
  • Legal Description: SUBD: RIDGEVIEW APARTMENTS LOT: 1 BLOCK: 4 A TRACT IN LOT 1 M/B DESC 474/971. 3.803A M/L. FILING NO. 1
  • Operating Expense: 163000.00
  • Operating Expense Includes: Accounting, Advertising, Insurance, Internet, Maintenance, Real Estate Tax, Staff, Utilities
  • Tax Amount: 8897.00
  • Tax ID: R006102
  • Tax Year: 2020
  • Water Included YN: Y
Exterior & Lot Features
  • Access: Public Road
  • Roof: Composition
  • Road Surface: Paved
  • Road Responsibility: Private Maintained Road
Utilities & Green Home Features
  • Sewer: Public Sewer
  • Utilities: Cable Available, Electricity Connected
  • Water Source: Public
  • Electric Service: 110V
Schools Near 615 Riford Road Craig, CO
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