611 N 4th St, Sterling, CO 80751

Property Description

611 N 4th St is a two story, 12 unit apartment building on a residential block just north of downtown Sterling, within walking distance of the downtown business district. Every unit is a two bedroom, one bath apartment with its entry off a covered exterior walkway, and the property includes an on site laundry room. Tenants pay their own electric and cable. The property is 100% occupied and produced $72,768 in net operating income over the trailing 12 months, a 6.9% cap rate at the $1,050,000 asking price. Rental demand is supported by nearby Northeastern Junior College, Sterling Regional MedCenter and other major local employers.