Courtesy: Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.
Charles Burkhart
214-336-6064
Marcus & Millichap is pleased to present Highland Green Apartments, a multifamily investment opportunity located in Craig, Colorado. Highland Green Apartments offers investors the opportunity to acquire a high-yielding asset with strong in-place cash flow and additional upside through continued operational efficiencies and organic rent growth. The property is currently projected at a 7.97% cap rate with upside to an 8.93% Year 1 cap rate alongside an estimated 13% cash-on-cash return on day one. Positioned in a supply-constrained market, Highland Green Apartments benefits from growing demand for attainable housing throughout Northwest Colorado as renters continue seeking affordable alternatives to nearby resort-driven markets such as Steamboat Springs. Limited new multifamily development, rising replacement costs, and increasing barriers to homeownership continue to support long-term apartment fundamentals throughout the region. The property also features individually metered utilities, creating operational efficiencies and reducing landlord exposure to rising utility expenses. Combined with Craig’s diversified economic base, strong community appeal, and proximity to major outdoor recreation and employment drivers, Highland Green Apartments presents investors with an attractive opportunity to acquire a stable cash-flowing asset with long-term upside potential.
Andrea Conner, Colorado License # ER.100067447, Xome Inc., License #EC100044283, [email protected], 844-400-9663, 750 State Highway 121 Bypass, Suite 100, Lewisville, TX 75067
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Craig is located in Colorado. Craig, Colorado has a population of 9,026. Craig is more family-centric than the surrounding county with 23.23% of the households containing married families with children. The county average for households married with children is 23.06%.
The median household income in Craig, Colorado is $51,618. The median household income for the surrounding county is $58,583 compared to the national median of $69,021. The median age of people living in Craig is 37.4 years.
The average high temperature in July is 86 degrees, with an average low temperature in January of 5.7 degrees. The average rainfall is approximately 17.5 inches per year, with 68 inches of snow per year.
