1041 W 24th St - Apartments FOR SALE


Rifle, CO 81650
$2,400,000 USD
303-328-2000
1041 W 24th St, Rifle, CO for Sale
$2,400,000 USD
Apartments - FOR SALE
1/24
null | Request Cap Rate

1041 W 24th St
Rifle, CO 81650


HIGHLIGHTS

  • Serves a critical workforce housing need within Garfield County
  • Affordable alternative to higher-cost Roaring Fork Valley communities
  • Positioned within one of the most affordable residential markets along the I-70 corridor
  • Beneficiary of strong regional employment drivers and constrained housing supply

OVERVIEW

Eagle's Nest Apartments is a 30-unit workforce housing community located at 1041 W.? 24th Street in Rifle, Colorado, one of the last affordable residential markets along the I-70 corridor and a critical provider of workforce housing in the area.? Situated on approximately 6.14 acres and developed between 2000 and 2006, the property offers a well-balanced mix of 8 one-bedroom units averaging 689 square feet, 13 two-bedroom units averaging 867 square feet, and 9 three-bedroom units averaging 1,148 square feet.? The community serves a broad tenant base of local workers and families seeking quality housing at a price point significantly below nearby mountain and resort-oriented markets, and the larger average unit sizes and family-oriented floorplans position the asset favorably within the local market, where demand for attainable housing continues to outpace supply.? Rifle has emerged as one of Western Colorado's most attractive workforce housing markets, benefiting from its strategic location along Interstate 70 and its accessibility to major employment centers throughout Garfield County and the broader Western Slope.? The city serves as an affordable alternative to higher-cost communities in the Roaring Fork Valley, including Aspen, Snowmass Village, Basalt, and Carbondale, where housing affordability challenges continue to push residents and workers farther west in search of attainable housing options.? The local economy is supported by a diverse employment base spanning energy, healthcare, education, government services, manufacturing, transportation, and construction.? In addition, Rifle benefits from its proximity to major regional employers throughout Garfield County, including those located in Glenwood Springs, Silt, Parachute, and the Roaring Fork Valley.? As housing costs in nearby resort-oriented communities continue to rise, Rifle has increasingly become a bedroom community for workers seeking more affordable living options while maintaining access to employment opportunities across the region.? From an investment perspective, Eagle's Nest presents an opportunity to acquire a stabilized workforce housing asset in a market characterized by strong affordability advantages and limited new supply.? Rifle remains one of the last truly attainable housing markets along the I-70 corridor, with average home sale prices substantially below those found in neighboring mountain communities.? This affordability differential continues to support renter demand and household formation, creating durable occupancy fundamentals and long-term rent growth potential.?

FOR SALE DETAILS

PRICE

$2,400,000 USD

PRICE/SF

$63 USD /SF

# OF UNITS

30

PRICE/UNIT

$80,000

CAP RATE

Request Cap Rate

% LEASED

93%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Eagles Nest Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

73

LAND DETAILS

LAND ACRES

6.14 AC

LAND SF

267,458 SF

ZONING

RL

APN/PARCEL ID

R361502,R361503,R361504,R361505,R361506,R361507,R361521,R363170,R363439

ASK ABOUT THIS PROPERTY

Jason HornikMarcus & MillichapMore Info
303-328-2000

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Jason HornikMarcus & MillichapMore Info
303-328-2000

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.