708-724 Cedar Creek Ave - Apartments FOR SALE


Montrose, CO 81401
$2,100,000 USD
970-985-9815
708-724 Cedar Creek Ave, Montrose, CO for Sale
$2,100,000 USD
Apartments - FOR SALE
1/24
null | 6.84% Cap Rate

708-724 Cedar Creek Ave
Montrose, CO 81401


OVERVIEW

We are pleased to exclusively offer the opportunity to purchase this newly built apartment complex in Montrose, CO. Completed in early 2023, this 5+5 unit building is fully occupied and perfect for any investor looking to invest in a stabilized asset with long-term growth potential. The apartment complex comprises five 580 square foot studio apartments, and five 1160 square foot two bedroom one bath units. Montrose lacks a supply of newly built multifamily, boasts an average household income of +$70,000, and is projected to grow consistently in the coming years according to the Housing Study the City of Montrose published.

FOR SALE DETAILS

PRICE

$2,100,000 USD

PRICE/SF

$241 USD /SF

# OF UNITS

5

PRICE/UNIT

$420,000

CAP RATE

6.84%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

2023

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.33 AC

LAND SF

14,375 SF

ZONING

R-4 High Density

APN/PARCEL ID

R0022039

ASK ABOUT THIS PROPERTY

Garret SmithColor Red DevelopmentMore Info
970-985-9815

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Garret SmithColor Red DevelopmentMore Info
970-985-9815

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