Marcus & Millichap is pleased to present Highland Green Apartments, a multifamily investment opportunity located in Craig, Colorado. Highland Green Apartments offers investors the opportunity to acquire a high-yielding asset with strong in-place cash flow and additional upside through continued operational efficiencies and organic rent growth. The property is currently… Read More projected at a 7.97% cap rate with upside to an 8.93% Year 1 cap rate alongside an estimated 13% cash-on-cash return on day one. Positioned in a supply-constrained market, Highland Green Apartments benefits from growing demand for attainable housing throughout Northwest Colorado as renters continue seeking affordable alternatives to nearby resort-driven markets such as Steamboat Springs. Limited new multifamily development, rising replacement costs, and increasing barriers to homeownership continue to support long-term apartment fundamentals throughout the region. The property also features individually metered utilities, creating operational efficiencies and reducing landlord exposure to rising utility expenses. Combined with Craig’s diversified economic base, strong community appeal, and proximity to major outdoor recreation and employment drivers, Highland Green Apartments presents investors with an attractive opportunity to acquire a stable cash-flowing asset with long-term upside potential. Read Less
Courtesy of Marcus & Millichap Real Estate Investment Services of Atlanta, Inc. [email protected]
Listing Snapshot
Days Online
1
Last Updated
Property Type
Quadruplex
Beds
60
Square Ft.
28,800
Year Built
1976
MLS Number
9681597
30 Days Snapshot Of 81625
$265k
0%
(avg) sold price
0
-100%
homes sold
30
0%
(avg) days on market
Snapshot
Area Map
Additional Details
Building
Above Grade Finished Area: 28800, Construction Materials: "Frame", Levels: "One", Living Area: 28800, Occupant Type: Owner, Structure Type: "Quadruplex", Total Area: 28800, Unit Count: 0, Built in 1976
Cooling
Cooling: "Other"
Disclosures
Exclusions: n/a
Heating
Heating: "Forced Air"
Home Owner's Association
Association Fee Total Annual: $0, Association Fee Annual: 0.00, Association Fee 2 Annual Expense: 0.00, Association Fee 3 Annual Expense: 0.00
Listings courtesy of METROLIST, INC., DBA RECOLORADO® as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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