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148 W Park Ave 24 Unit Apartment Building $1,550,000 ($64,583/Unit) 6.11% Cap Rate Empire, CO 80438
Executive Summary
PROPERTY FEATURES
- 12 total units — seven 1-bedroom/1-bath apartments, two
2-bedroom/1-bath apartments, three RV/MH lot sites
- 1.64 acres in the heart of Empire, adjacent to West Fork Clear
Creek
- All public utilities — public water, public sewer, individually
metered electric
- Gas — public utility, tenant pays; trash included in rent
- Walking distance to Empire town center
PROPERTY HIGHLIGHTS
- All 9 apartment units occupied and generating income on Day
1 — no lease-up risk
- Low operational cost exposure
- Extremely rare sized asset in Clear Creek County
- 12 total units — seven 1-bedroom/1-bath apartments, two
2-bedroom/1-bath apartments, three RV/MH lot sites
- 1.64 acres in the heart of Empire, adjacent to West Fork Clear
Creek
- All public utilities — public water, public sewer, individually
metered electric
- Gas — public utility, tenant pays; trash included in rent
- Walking distance to Empire town center
PROPERTY HIGHLIGHTS
- All 9 apartment units occupied and generating income on Day
1 — no lease-up risk
- Low operational cost exposure
- Extremely rare sized asset in Clear Creek County
Property Facts
| Price | $1,550,000 | Property Subtype | Apartment |
| Price Per Unit | $64,583 | Building Class | B |
| Sale Type | Investment | Lot Size | 1.64 AC |
| Cap Rate | 6.11% | Building Size | 928 SF |
| No. Units | 24 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1890 |
| Price | $1,550,000 |
| Price Per Unit | $64,583 |
| Sale Type | Investment |
| Cap Rate | 6.11% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | B |
| Lot Size | 1.64 AC |
| Building Size | 928 SF |
| No. Stories | 1 |
| Year Built | 1890 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | - |
1 1
Somewhat walkable
20/100
Exceptionally drivable
100/100
Limited public transit
30/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 1837-282-26-032 | Improvements Assessment | $46,680 |
| Land Assessment | $7,310 | Total Assessment | $53,990 |
Property Taxes
Parcel Number
1837-282-26-032
Land Assessment
$7,310
Improvements Assessment
$46,680
Total Assessment
$53,990
Contacts
-
David Barocas -
Andrew Monette -
Corey Sandberg -
Morgan Wheeler -
Pinnacle Real Estate Advisors
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148 W Park Ave
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