224 Seward St, Lyons, CO 80540
13 Unit Apartment Building | $1,750,000 ($134,615/Unit) | 8.06% Cap Rate | Lyons, CO 80540
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,750,000
- Property Type
-
Multifamily
- Square Feet
- 3,400 SF
Listing Contacts
Clayton Primm
Verified Profile
Matt Berk
Verified Profile
- Property Info
Property Overview
224 Seward Street is a 14-unit multifamily community located in a quiet neighborhood of Lyons, Colorado, walking distance to downtown, restaurants, shopping, and the elementary school. It has six apartment units in a single building with a varying unit mix, as well as eight mobile homes, seven of which are park-owned. Each of these mobile homes are two-bedrooms and one-bathroom units.
All utilities are master metered for the six apartment units and billed back to residents. All of the park owned mobile homes pay all utilities. Trash is paid by the owner and billed back to tenants. There are two water taps on the property. The apartment building's roof was recently replaced and windows are double-paned. Two of the mobile home units are under seven years old. Additionally, there are 14 off-street parking spots and six storage units.
Seward sits on 0.75 acres and is conveniently located in Boulder County, approximately 15 minutes west of Longmont, 25 minutes southeast of Estes Park, and 20 minutes north of Boulder. Lyons, Colorado has historically been a low vacancy rental market, vacant units in this community don’t last long.
All utilities are master metered for the six apartment units and billed back to residents. All of the park owned mobile homes pay all utilities. Trash is paid by the owner and billed back to tenants. There are two water taps on the property. The apartment building's roof was recently replaced and windows are double-paned. Two of the mobile home units are under seven years old. Additionally, there are 14 off-street parking spots and six storage units.
Seward sits on 0.75 acres and is conveniently located in Boulder County, approximately 15 minutes west of Longmont, 25 minutes southeast of Estes Park, and 20 minutes north of Boulder. Lyons, Colorado has historically been a low vacancy rental market, vacant units in this community don’t last long.
Property Details
- Class
- C
- Year Built
- 1925
- Stories
- 1
- Lot Size (sq. ft)
- 32,670 SF
- Units
- 13
Highlights
- Strong In-Place Cashflow, Stabilized Asset
- Below Market Rent; 8%+ Proforma Cap Rate
- High Demand Boulder County Rental Market
- Diverse Unit Mix: 6 Apartments, 8 Mobile Homes
- 2 Water Taps; Great Future Redevelopment
- Quiet Neighborhood in Lyons, CO; Close Proximity to Boulder, Longmont, & Estes Park
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