Lee Roufa presents
Eagle's Nest is a section 42 affordable apartment community, owner-managed, in Rifle CO. The property is being offered free and clear of debt to a new investor. This investment opportunity, built in 2006, includes 8 one-bedroom (each at 689 square feet), 13 two-bedroom (each at 862 square feet, with one at 1,148), and 9 three-bedroom (each at 1,148 square feet)apartments as well as a 1,148 square foot office spread across 3.9 acres in Rifle, CO. The property includes additional rentable storage spaces as well as on-site laundry and a playground area. The Cap rate is just over 4%. Apartments are currently at 100% occupancy with a waiting list. New rent roles will be available in May.
Rifle Colorado is a ranch community that is situated on Colorado's main highway, the I-70 corridor, and serves as a bedroom community for the labor force of two different ski resorts that are bursting at their seams with growth. The Vail Valley is 75-miles away and the Aspen community is 68-miles away. Recent escalated real estate values in resort towns have forced the labor workforce to purchase affordable housing options further from their town limits. IRS programs like Section 42 provide tax credits for owners who develop/operate affordable housing.
Contact broker for more details regarding leases and operations.
Address: Rifle, Colorado
For more information, please contact Lee Roufa at 970-729-0526 or lee.roufa@evrealestate.com
Lee Roufa is the Engel Volkers Licensed Partner for Telluride and the exclusive agent representing the Telluride, Colorado real estate market as a member of the Haute Residence Real Estate Network. View all of his listings here.
