Property Description

Newly constructed multifamily in a great location, walking distance to downtown Glenwood Springs and public transportation. 619 Overlin Drive is a two-building townhome community in a supply-constrained market with high rental demand, and it is actively leasing. The townhome design puts better living first, for tenants and owners alike, with the comfort and stability of ownership-style living. Hold the portfolio, resell, or phase your exit.Investment highlightsRecently appraised at $6.2M, Projected gross annual rents of roughly $410K, Projected NOI of approximately $320K per year, a 5.3% projected cap rate at $6.0M, New construction with no deferred maintenance, Opportunity for the owner to seek bonus depreciation. Walkable to downtown and transit, which supports tenant demand, Very limited supply of comparable new townhome product in the valleyOther purchase options include individual units, MLS 193713 - 4 units for $2.3m or MLS 193714 - 6 units for $3.7m. Projections and estimates are not guaranteed.

Property Features