807 Legion St - Apartments FOR SALE


Craig, CO 81625
$3,575,000 USD
303-328-2046
807 Legion St, Craig, CO for Sale
$3,575,000 USD
Apartments - FOR SALE
1/33
null | 7.97% Cap Rate

807 Legion St
Craig, CO 81625


HIGHLIGHTS

  • Stabilized asset delivering ~7.97% current cap, 8.93% Yr 1, and ~13% CoC. Strong day-one cash flow with upside from revenue growth & efficiency gains.
  • Provides affordable housing below nearby resort markets.
  • Craig benefits from rising regional costs, supporting steady renter demand and long-term occupancy.
  • Upside through lease rollovers, rent optimization, and efficiencies.
  • Growth driven by operations, minimizing capex and disruption while enhancing cash flow.
  • High construction costs, labor shortages, and geographic limits restrict new supply, supporting strong occupancy and rent growth for existing assets.

OVERVIEW

Marcus & Millichap is pleased to present Highland Green Apartments, a multifamily investment opportunity located in Craig, Colorado.? Highland Green Apartments offers investors the opportunity to acquire a high-yielding asset with strong in-place cash flow and additional upside through continued operational efficiencies and organic rent growth.? The property is currently projected at a 7.97% cap rate with upside to an 8.93% Year 1 cap rate alongside an estimated 13% cash-on-cash return on day one.? Positioned in a supply-constrained market, Highland Green Apartments benefits from growing demand for attainable housing throughout Northwest Colorado as renters continue seeking affordable alternatives to nearby resort-driven markets such as Steamboat Springs.? Limited new multifamily development, rising replacement costs, and increasing barriers to homeownership continue to support long-term apartment fundamentals throughout the region.? The property also features individually metered utilities, creating operational efficiencies and reducing landlord exposure to rising utility expenses.? Combined with Craig's diversified economic base, strong community appeal, and proximity to major outdoor recreation and employment drivers, Highland Green Apartments presents investors with an attractive opportunity to acquire a stable cash-flowing asset with long-term upside potential.?

FOR SALE DETAILS

PRICE

$3,575,000 USD

PRICE/SF

$115 USD /SF

# OF UNITS

40

PRICE/UNIT

$89,375

CAP RATE

7.97%

% LEASED

97%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Highland Green Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1976

PARKING SPACES

5

LAND DETAILS

LAND ACRES

1.65 AC

LAND SF

71,874 SF

ZONING

-

APN/PARCEL ID

065931310001,R008112

ASK ABOUT THIS PROPERTY

Charles BurkhartMarcus & MillichapMore Info
303-328-2046

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Charles BurkhartMarcus & MillichapMore Info
303-328-2046

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