Prime 18-Unit Multifamily Investment in Central City, CO - 5.70% Cap Rate
101 Gregory St, Central City, CO 80427, Central City, CO 80427Opportunity
Value-Add Opportunities for Enhanced Returns: While the property is already well-maintained, there are potential upside strategies to boost NOI and asset value. For example, implementing a rent optimization program could increase revenue, given the strong market demand. Additionally, exploring energy-efficient upgrades or adding premium amenities (e.g., smart home features) could justify higher rents and improve operational efficiency. The stable cash flow from current operations provides a foundation to fund such initiatives, potentially elevating the cap rate and overall investment yield over time.
Strength
Strong Financial Performance with Attractive Entry Metrics: The property demonstrates solid financial fundamentals, with a 5.70% cap rate and an NOI of $330,380, providing immediate cash flow. The sale price of $5,800,000 translates to a calculated price per square foot of $431.10 and a price per unit of $322,222, which is competitive for a Class C mid-rise building in a growing market like Central City. Annual property taxes of approximately $25,000 are relatively low, enhancing net returns. This positions the asset as a stable income-generating investment with potential for appreciation, especially given its modern 2025 construction.
Strength
Prime Location in a Dynamic Growth Market: Situated in Central City, Colorado, the property benefits from a vibrant and expanding local economy. The area’s growth potential, as highlighted in the overview, suggests increasing demand for rental housing, which could drive occupancy and rental rates upward. The address offers accessibility and convenience, appealing to residents seeking a connected lifestyle. This location advantage reduces vacancy risks and supports long-term value creation, making it a strategic hold for portfolio diversification in Colorado’s multifamily sector.
Strength
Modern Construction and High-Quality Amenities Drive Tenant Appeal: Built in 2025, the building is virtually new, minimizing near-term capital expenditures for repairs or renovations. It features essential amenities such as air conditioning, heating, fully equipped kitchens, 24-hour access, controlled entry, community-wide Wi-Fi, elevator service, bicycle storage, and free covered parking. These modern conveniences enhance tenant satisfaction and retention, allowing for competitive rental pricing and lower turnover costs. The Class C classification offers a balance of affordability and quality, targeting a broad tenant base.
Strength
Risk Mitigation through Stable Cash Flow and Market Resilience: The property’s consistent NOI and low tax burden contribute to reliable cash flow, reducing financial volatility. Central City’s dynamic market context offers resilience against economic downturns, as multifamily assets often maintain demand during uncertain periods. However, investors should monitor factors like zoning regulations (currently unspecified) and potential increases in operating costs. Overall, the combination of modern infrastructure, strategic location, and strong financials mitigates key risks, positioning this as a lower-risk investment with steady long-term returns.
Property Overview
- Multifamily Building located in Central City, CO
- Built in 2025 (Modern Construction)
- 13,454 SF of rentable area
Property Details
| Year Built | 2025 | Building Type | Multifamily |
| Total Size | 13,454 SF | Zoning | N/A |
| Parking Spaces | N/A | Occupancy Rate | 0.0% |
| Cap Rate | 5.70% | Annual NOI | $330,380 |
| Price | $5,800,000 | Price/SF | $431.10 |
| Location | Central City, CO | County | N/A |
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* Calculations are estimates only. Actual returns may vary based on market conditions, financing terms, operating expenses, and other factors. Consult with financial and legal professionals before making investment decisions.
Where Your NOI Goes Each Month
* Distribution based on current inputs. Actual expenses may vary.
Total Return if Sold (Exit Strategy)
* Assumes property appreciation and no sale costs. Past performance doesn't guarantee future results.
Investment Due Diligence FAQ
Key questions for informed investment decisions
Things Near
Central City Opera House
0.3 milesCentury Casino Central City
0.2 milesGilpin County Historical Society Museum
0.4 milesCentral City Park
0.5 milesDostal Alley Brewpub & Casino
0.3 milesAbout Central City
Located in Colorado, Central City is a dynamic area with strong commercial real estate fundamentals and excellent connectivity.
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