1412 Gunnison Ave, Gunnison, CO 81230
12 Unit Apartment Building | $3,300,000 ($275,000/Unit) | 2.92% Cap Rate | Gunnison, CO 81230
For Sale
Active
Asking Price $3,300,000
- Property Type
-
Multifamily
- Square Feet
- 9,504 SF
Listing Contacts
John Nelson
Property Overview
12 unit apartment complex consisting of three 4-plexes, on the West end of town, nestled in the trees not far from the Gunnison River. Over 1.5 acres allows room to build an additional 4-plex. Covered parking with locking storage for every unit. Large common areas landscaped with lava rock, grass and mature trees, in one of the quietest areas in Gunnison city limits.
12 units total, all are 2br/1 bath. 4 units are owner occupied; 1 unit vacant, 7 units are under lease for: $1350, $1400, $1600, $1600, $1600, $1600, $1650.
Expenses are: 10% of gross for Property Management, $20,210/year for insurance/water/sewer/trash/ landscaping/snow removal. Tenants pay for electric.
IF owner occupied units were leased for $1600 each, NOI would be $183,841, for a 5.57% Cap rate at asking price.
12 units total, all are 2br/1 bath. 4 units are owner occupied; 1 unit vacant, 7 units are under lease for: $1350, $1400, $1600, $1600, $1600, $1600, $1650.
Expenses are: 10% of gross for Property Management, $20,210/year for insurance/water/sewer/trash/ landscaping/snow removal. Tenants pay for electric.
IF owner occupied units were leased for $1600 each, NOI would be $183,841, for a 5.57% Cap rate at asking price.
Property Details
- Class
- C
- Year Built
- 1980
- Stories
- 2
- Lot Size (sq. ft)
- 68,825 SF
- Units
- 12
Highlights
- Quiet, private and shady.
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