223 Main St - Apartments FOR SALE


Meeker, CO 81641 | 
$615,000 USD
303-669-2475
223 Main St, Meeker, CO for Sale
$615,000 USD
Apartments - FOR SALE
1/7
null | Request Cap Rate

223 Main St
Meeker, CO 81641


HIGHLIGHTS

  • Unique owner-user investment opportunity featuring a single-family home and income-producing triplex on one lot
  • Live in the main house while the triplex income helps offset the mortgage, or operate all four units as a single rental portfolio
  • Current rents are significantly below market, creating substantial upside for an incoming owner
  • Single-family home currently rents for $1,790/month with market rent estimated at $2,500/month
  • Triplex currently generates $1,800/month, with market rents estimated at $2,700/month
  • Stabilized monthly rental income of $5,200, representing approximately 44.8% upside from current rents

OVERVIEW

223 Main Street pairs a single family home with a three-unit income property on one lot in downtown Meeker — a layout that works equally well for an owner-occupant looking to offset their mortgage or an investor building a small rental portfolio. Every unit on the property is currently rented below today's market. As leases turn, inplace rents have room to climb toward stabilized levels, creating a clear, near-term path to increased cash flow without new construction or major capital improvements. At full stabilization, the property is projected to produce $5,200/month in combined rent — a 44.8% increase over current in-place income. Can be purchased As-Is or part of a Mobile Home Park Collection consisting of 75 units also in Meeker, CO.

FOR SALE DETAILS

PRICE

$615,000 USD

PRICE/SF

$217 USD /SF

# OF UNITS

4

PRICE/UNIT

$153,750

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

1950

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

-

APN/PARCEL ID

R001540

ASK ABOUT THIS PROPERTY

David BarocasPinnacle Real Estate AdvisorsMore Info
303-669-2475

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David BarocasPinnacle Real Estate AdvisorsMore Info
303-669-2475

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