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1010 1020 1030 16th

Delta, CO 81416
  • $458,450
  • STATUS: Active
  • ON SITE: 138 Days
  • MLS #: 796083
UPDATED: 39 min ago
$458,450
  • 0
    BEDS
  • 4.7
    ACRES
  • 5
    BATHS
  • 0
    1/2 BATHS
  • 3,275
    SQFT
  • $140
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1943
County:
Area:

School Information

Elementary School:
Middle School:
High School:
Listing courtesy of Telluride Realty, Llc: 970-728-4000.


Description

STABLE - INCOME PRODUCING 3 UNITS on 4.7+ acres w/ 6.6%CAP rate. ( A Single family home w/ two additional mobiles on the property) Irrigation water also! FULLY OCCUPIED - DO NOT DISTURB TENANTS or drive on parcel! Live in one residence and rent out the others to live rent free! Very stable investment with long-term tenants that want to stay. 6.6% NET cap rate. Views to Grand Mesa, inside the city limits! near the High School. ****4.8 shares of irrigation deeded water UVWUA**** The Main stick built adobe home (1020 16th st ) is 1, 392 feet (3/2) 2 stories - All new flooring, paint, a new $4000 furnace, and new hot water heater! Lots of upgrades! The 1st rental/mobile (1010 16th st) 804 SF 2/1. New Flooring, Paint, Roof re-coated The 2nd rental /mobile (1030 16th st ) 1, 078 feet 2/2 . New Flooring, Paint, Roof re-coated Both mobiles' roof's have had full waterproofing and paint work in 2020. All 3 units have W/D hookups and exterior storage sheds Delta, CO, Western slope of Colorado. 20 min to Montrose or 40 to Grand Junction. Great income potential - Hold as pure investment or live in one, rent out the other two. Remodeled 2020. 3 sewer and 3 water taps - All tenants pay their own electric, gas, water, sewer, trash. 3 separate addresses per assessor, room to farm or subdivide in the future for more lots. Develop? Plenty of room. 3-4 out buildings/sheds. Other Upgrades/Notes from 2020 remodel: 2 out of 3 NEW hot water heaters, new stone and wood interior upgrades. 2 granite counters. New vanity's! Homes are old but have a vibrant modern feel. Huge lawn on the East and acres to work on in the back with irrigation ditches/canals/pipes. The west border is an alley for private access to the back of the parcel. Irrigation water cuts thru the property, easy for distribution - plenty of water! In town convenience with out of town space and views! Some new fencing to help with separation. Showers in all bathrooms. Both mobiles have tubs, No Tub in stick built home. Current rents below market. Current market gross rent likely closer to 38K/yr. Built in value with future development potential/farm/water rights. Projected Cap Rate Over 7%!! Currently stable at over 6.3%. All tenants have been there for longer than a year.

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The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2022. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Western Slope Real Estate contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-11-29T21:56:27.42.
www.lovewhereyouliveco.com/homes/130856633
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1010 1020 1030 16th Delta, CO 81416

  • Price: $458,450
  • Status: Active
  • On Site: 138 Days
  • Updated: 39 min ago
  • MLS #: 796083
0
Beds
5
Baths
0
½ Baths
4.7
Acres
3,275
SQFT
$140
$/SQFT
1943
Built
Neighborhood:
Other
County:
Delta
Area:
Delta
Elementary School:
Garnet Mesa K-5
Middle School:
Delta 6-8
High School:
Delta 9-12
Property Description
STABLE - INCOME PRODUCING 3 UNITS on 4.7+ acres w/ 6.6%CAP rate. ( A Single family home w/ two additional mobiles on the property) Irrigation water also! FULLY OCCUPIED - DO NOT DISTURB TENANTS or drive on parcel! Live in one residence and rent out the others to live rent free! Very stable investment with long-term tenants that want to stay. 6.6% NET cap rate. Views to Grand Mesa, inside the city limits! near the High School. ****4.8 shares of irrigation deeded water UVWUA**** The Main stick built adobe home (1020 16th st ) is 1, 392 feet (3/2) 2 stories - All new flooring, paint, a new $4000 furnace, and new hot water heater! Lots of upgrades! The 1st rental/mobile (1010 16th st) 804 SF 2/1. New Flooring, Paint, Roof re-coated The 2nd rental /mobile (1030 16th st ) 1, 078 feet 2/2 . New Flooring, Paint, Roof re-coated Both mobiles' roof's have had full waterproofing and paint work in 2020. All 3 units have W/D hookups and exterior storage sheds Delta, CO, Western slope of Colorado. 20 min to Montrose or 40 to Grand Junction. Great income potential - Hold as pure investment or live in one, rent out the other two. Remodeled 2020. 3 sewer and 3 water taps - All tenants pay their own electric, gas, water, sewer, trash. 3 separate addresses per assessor, room to farm or subdivide in the future for more lots. Develop? Plenty of room. 3-4 out buildings/sheds. Other Upgrades/Notes from 2020 remodel: 2 out of 3 NEW hot water heaters, new stone and wood interior upgrades. 2 granite counters. New vanity's! Homes are old but have a vibrant modern feel. Huge lawn on the East and acres to work on in the back with irrigation ditches/canals/pipes. The west border is an alley for private access to the back of the parcel. Irrigation water cuts thru the property, easy for distribution - plenty of water! In town convenience with out of town space and views! Some new fencing to help with separation. Showers in all bathrooms. Both mobiles have tubs, No Tub in stick built home. Current rents below market. Current market gross rent likely closer to 38K/yr. Built in value with future development potential/farm/water rights. Projected Cap Rate Over 7%!! Currently stable at over 6.3%. All tenants have been there for longer than a year.
Exterior Features

Acreage Range 2-4.99 Carport No Garage No Property Attached No Stories Two Story Style AdobeSouthwest Water Well No Waterfront YN No

Interior Features

Main Sq Ft 3275 One Quarter Baths 0 Total Office Dens 0 Unit1 Baths 2 Unit1 Bedrooms 3 Unit1 Square Feet 1392 Unit2 Baths 2 Unit2 Bedrooms 2 Unit2 Square Feet 1078 Unit3 Baths 1 Unit3 Bedrooms 2 Unit3 Square Feet 804 Upper Sq Ft 576

Property Features

Cap Rate Percent 6.6 Covenants No Green Certification No Hoa No Horse Setup No Multi Story Yes New Construction YN No Property Mngr Na Reo Lender Owned No Tax Year 2019 Total Electric Meters 3 Total Gas Meters 3 Total Taxes 610 Total Water Meters 3 Type Other Unit1 Monthly Rent 1250 Unit2 Monthly Rent 1000 Unit3 Monthly Rent 750 Vacancy Factor Prcnt 0 Water Rights No Water Sewer City Sewer Year Remodeled 2019 Zoning OtherResidential

The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2022. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Western Slope Real Estate contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2022-11-29T21:56:27.42.
 
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Western Slope Real Estate
1338 Grand Ave, Suite 313
Glenwood Springs CO, 81601
Listing courtesy of Telluride Realty, Llc: 970-728-4000.