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Johnstown Manor Apartments

Turnkey 13-Unit Apartment Building in Northern Colorado

Listing Contacts

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Active

Asking Price: $2,400,000
Address 

201 E S 1st St, Johnstown, CO 80534

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Date Added
Oct 31, 2024
Days on Market
172 days
Time Since Last Update
77 days

Details

Property TypeMultifamily
SubtypeApartment Building
ClassC
Square Footage13,144
Price/Sq Ft$182.59
Cap Rate5.71%
Pro-Forma Cap Rate6.58%
NOI$136,945
Pro-Forma NOI$157,859
Units13
Year Built1920
Buildings1
Stories2
Lot Size (sq ft)26,600
Parking (spaces)13
Broker Co-OpYes
Price/Unit$184,615.38
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Marketing Description

201 E.​ South 1st Street is a 13-unit apartment building located in Johnstown, CO.​ These units feature a unique mix consisting of (4) 1Br/1Ba units, (6) 2Br/1Ba units, and (3) 3Br/1Ba units.​ This turn-key investment is in excellent condition and requires little to no capital injection.​ Current ownership has updated the majority of the electrical panels in the units, installed a new roof and gutters (2017), and recently installed a new boiler.​ With a history of strong occupancy rates and stable rental income, the property is poised to continue generating consistent cash flow.​

Investment Highlights

  • Turn-Key Asset with 12 out of 13 units fully renovated

  • Updated Windows, Two New High-Efficiency Boilers with Water Storage Tanks (2021), New Exterior Paint (2023) and Landscaping (2024)

  • 13 Surface Parking Spots

  • In the Heart of Downtown Johnstown with the Ability to Walk to Numerous Restaurant and Retail Stores

  • Large Storage Units in Basement that Currently Provide Additional Income

Valuation Calculator

Valuation Calculator

Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$136,945.00
$11,412.08/mo

Valuation Metrics

0
DSCR
5.71%
Cap Rate
5.71%
ROI

Due Diligence

Due diligence information will be provided.
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