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$ 610,000
Est. payment | /mo
$ 610,000
Est. payment | /mo
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4576041
Style Traditional
HOA Y/N No
Year Built 1904
Annual Tax Amount $2,237
Tax Year 2023
Property Sub-Type Multi Family
Source recolorado
Property Description
10.1% cap rate on a mixed use building in downtown Burlington featuring 6 apartment units and 2 commercial spaces all fully occupied. Burlington is in high demand for rentals as wind energy and gas pipeline employees are moving to the area at an unprecedented rate. Opportunity for increased NOI with about half of the current apartments units being leased at below market rents. Current owner has updated/remodeled all apartments, installed new mini split hvac systems, installed a new commercial wifi monitored hot water heater, and invested in a ton of miscellaneous upgrades over the last three years of ownership. Additional income with coin laundry located on second floor. Please reach out to listing agent to schedule viewing - please do not bother tenants.
Location
State CO
County Kit Carson
Zoning Downtown Burlington
Interior
Fireplace N
Exterior
Roof Type Other
Total Parking Spaces 4
Garage No
Building
Sewer Public Sewer
Structure Type Block,Stucco
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Eisenhard Realty Group
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