New Construction 18-Unit Multifamily Asset in Central City, CO - 5.70% Cap Rate
101 Gregory St, Central City, CO 80427Opportunity
Rent Growth Potential: As a new build in Central City, there is opportunity to align rents with market rates or slightly above, given the modern amenities and lack of comparable new inventory.
Opportunity
Value-Add through Operational Efficiency: Implementing smart home technology or green initiatives (e.g., energy-efficient appliances) could further reduce operating expenses and attract environmentally conscious tenants.
Opportunity
Market Expansion: Central City’s dynamic growth suggests increasing demand for quality multifamily housing, positioning this property for long-term appreciation.
Risk
Class C Designation: Class C properties may face higher tenant turnover or sensitivity to economic downturns compared to Class A/B assets, requiring proactive management.
Risk
Missing Parking Ratio: Lack of parking data could indicate limited parking availability, potentially affecting tenant appeal in a car-dependent region.
Risk
Market Concentration: Reliance on Central City’s local economy—without diversification—exposes the investment to regional economic fluctuations.
Strength
New Construction Advantage: Built in 2025, this asset eliminates near-term capital expenditure risks (e.g., roof, HVAC, structural repairs), providing a modern, move-in-ready product that appeals to tenants and reduces maintenance costs.
Strength
Strong Financial Performance: With a cap rate of 5.70% and an NOI of $330,380, the property offers stable cash flow. The calculated price per square foot of $431.10 is competitive for a Class C mid-rise in a growing market.
Strength
Premium Amenities Package: Features like 24-hour controlled access, community-wide Wi-Fi, elevator service, and bicycle storage enhance tenant satisfaction, supporting higher retention rates and potential rent premiums.
Strength
Efficient Unit Design: Each unit includes full kitchens, air conditioning, heating, and safety features (smoke detectors), meeting contemporary rental demands.
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.
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Things Near
Central City Opera House
0.3 milesTeller House
0.2 milesCentral City Parkway
1.5 milesBlack Hawk Casino District
2.0 milesArapaho National Forest
5.0 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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