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Off market

Buy a multi-family propertyat 505 Pierce St, Erie, CO 80516

$1,299,000

$1,325,000 (-1.96%)

$0/mo

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Multifamily

4,380 Sq. Ft.

7,500 Sq. Ft. lot

433 Days on market

9618087 MLS ID

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About 505 Pierce St multi-family property

Incredible opportunity to own a rare 4 unit building in the heart of Erie! Just one block from restaurants, breweries, coffee shops and more! This 4-plex boasts two updated units with new cabinets, LVP flooring, granite counters and more, and two units with value-add opportunity. Two 3 bedroom units, and two 2 bedroom units. Ample off-street parking. All units are separately metered for gas and electric. Increase rents to market rate to boost cash-flow, OR consider converting one or more units to Short Term Rental.
Incredible opportunity to own a rare 4 unit building in the heart of Erie! Just one block from restaurants, breweries, coffee shops and more! This 4-plex boasts two updated units with new cabinets, LVP flooring, granite counters and more, and two units with value-add opportunity. Two 3 bedroom units, and two 2 bedroom units. Ample off-street parking. All units are separately metered for gas and electric. Increase rents to market rate to boost cash-flow, OR consider converting one or more units to Short Term Rental.

Property details

House

Above Grade Finished Area: 4380

Building Area Total: 4380

Construction Materials: "Brick/Brick Veneer"

Total Sq Ft: 4380

Levels: "Two"

Living Area: 4380

Living Area Source: Assessor

Living Area Units: Square Feet

Stories: 2

Year Built: 1976

Appliances and Equipment

Appliances: "Dishwasher", "Refrigerator"

Bathrooms

Bathrooms Total Integer: 4

Bedrooms

Bedrooms Total: 10

Location

City: Erie

Country: US

County Or Parish: Weld

Locale: Erie

Latitude: 40.049156

Longitude: -105.048485

MLS Area Major: Greeley/Weld

Postal Code: 80516

State Or Province: CO

Street Name: Pierce

Street Number: 505

Street Suffix: St

Subdivision Name: Erie

Unparsed Address: 505 Pierce St Erie CO 80516

Garage

Covered Spaces: 8

Garage Spaces: 8

Garage YN: t

Garage Type: Off Street

Utilities

Electric: "Separate Meter Electricity"

Gas: "Separate Meter Gas"

Is Water Meter Installed: Yes

Schools

Elementary School: Erie

High School: Erie

High School District: St. Vrain Valley RE-1J

Middle Or Junior School: Erie

Income

Gross Income: 62400

Net Operating Income: 45532

Heating

Heating: "Forced Air"

Heating YN: t

Property

Crops: None

Property Condition: "Not New, Previously Owned"

Property Sub Type: Income Property

Property Type: Residential Income

Taxes

Has Metro Tax District: No

Tax Annual Amount: 5301

Tax Year: 2021

Water

Has Water Rights: No

Water Source: "City Water"

Listing

Price Per Sq Ft: 296.58

Listing Id: 9618087

Listing Terms: "Cash", "Conventional", "VA Loan"

List Price: 1299000

Mls Status: Active

Number Of Units Total: 4

Standard Status: Active

Lot

Lot Size Acres: 0.17

Lot Size Area: 7500

Lot Size Square Feet: 7500

Lot Size Units: Square Feet

Expenses

Operating Expense: 16868

Parking

Other Parking: Parking Per Unit(2 Spaces/Unit)

Tenant Pays

Tenant Pays: "Gas", "Electricity"

Monthly cost

Estimated monthly cost

$8,007/mo

All calculations are estimates and provided for informational purposes only. Actual amounts may vary.

Seller fees & commissions

Home sale price

$

Outstanding mortgage

$

Selling with traditional agent

Selling with Unreal Estate agent

Your total sale proceeds$1,221,060

+$38,970

$1,260,030

Seller agent commission$38,970 (3%)*

$0 (0%)

Buyer agent commission$38,970 (3%)*

$38,970 (3%)*

*Commissions are based on national averages and not intended to represent actual commissions of this property

Get $38,970 more selling your home
with an Unreal Estate agent

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Unreal Estate checked: Apr 24, 2024 at 6:37 p.m.

Data updated: Mar 27, 2023 at 7:45 p.m.

Courtesy of Jon Cole, Your Castle Real Estate Inc
This content last updated on 03/27/2023. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Provided for limited non-commercial use only under IRES Rules. Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information deemed reliable but not guaranteed by the MLS.
Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © IRES 2024. All Rights Reserved.

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