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Glendale Apartments 2916-2924 Glen Dale Dr 18 Unit Apartment Building £1,654,633 (£91,924/Unit) 6.96% Net Initial Yield Evans, CO 80620
INVESTMENT HIGHLIGHTS
- Well-Maintained 18 Unit Property in Evans, CO
- Less Than One Mile to the University of Norther Colorado
- Ideal Unit Mix with 15 - 2Br/1Ba and 3 - 1Br/1Ba Units
- Value-Add Upside Through Additional Unit Renovations
- 5 Minutes to the Greeley Mall
- Just $129,167/unit for Mostly 2 Bedroom Units!
EXECUTIVE SUMMARY
PRICE REDUCTION! 7% Actual CAP Rate. The Glendale Apartments is an 18 unit (3 – six unit buildings), value-add apartment complex located in Evans, CO. This well-maintained asset offers investors the opportunity to add additional value through a proven renovation strategy and acquire the property at a basis well below replacement cost. All 18 units are individually deeded, offering an investor additional flexibility on the backend.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER sq ft |
|---|---|---|
| Gross Rental Income |
£185,415
|
£14.25
|
| Other Income |
£18,353
|
£1.41
|
| Vacancy Loss |
£9,270
|
£0.71
|
| Effective Gross Income |
£194,498
|
£14.95
|
| Taxes |
£5,293
|
£0.41
|
| Operating Expenses |
£74,035
|
£5.69
|
| Total Expenses |
£79,328
|
£6.10
|
| Net Operating Income |
£115,169
|
£8.85
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | £185,415 |
| Annual Per sq ft | £14.25 |
| Other Income | |
|---|---|
| Annual | £18,353 |
| Annual Per sq ft | £1.41 |
| Vacancy Loss | |
|---|---|
| Annual | £9,270 |
| Annual Per sq ft | £0.71 |
| Effective Gross Income | |
|---|---|
| Annual | £194,498 |
| Annual Per sq ft | £14.95 |
| Taxes | |
|---|---|
| Annual | £5,293 |
| Annual Per sq ft | £0.41 |
| Operating Expenses | |
|---|---|
| Annual | £74,035 |
| Annual Per sq ft | £5.69 |
| Total Expenses | |
|---|---|
| Annual | £79,328 |
| Annual Per sq ft | £6.10 |
| Net Operating Income | |
|---|---|
| Annual | £115,169 |
| Annual Per sq ft | £8.85 |
PROPERTY FACTS
| Price | £1,654,633 | Apartment Style | Low-Rise |
| Price Per Unit | £91,924 | Costar Property Class | C |
| Sale Type | Investment | Total Plot Size | 0.72 ac |
| Yield | 6.96% | Property Size | 13,008 sq ft |
| Sale Condition | 1031 Exchange | No. Floors | 1 |
| No. Units | 18 | Year Built | 1973 |
| Property Type | Build-to-Rent | Parking Allocation | 3.84/1,000 sq ft |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Use Class | Residential, Evans | ||
| Price | £1,654,633 |
| Price Per Unit | £91,924 |
| Sale Type | Investment |
| Yield | 6.96% |
| Sale Condition | 1031 Exchange |
| No. Units | 18 |
| Property Type | Build-to-Rent |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Costar Property Class | C |
| Total Plot Size | 0.72 ac |
| Property Size | 13,008 sq ft |
| No. Floors | 1 |
| Year Built | 1973 |
| Parking Allocation | 3.84/1,000 sq ft |
| Opportunity Zone |
Yes |
| Use Class | Residential, Evans |
AMENITIES
UNIT AMENITIES
- Balcony
- Dishwasher
- Heating
- Kitchen
- Range
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT PCM | sq ft |
|---|---|---|---|
| 1+1 | 3 | - | 496 |
| 2+1 | 15 | - | 760 |
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Glendale Apartments | 2916-2924 Glen Dale Dr
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