Value-Add Opportunity in Victor, CO.
FOR SALE
133 N 3rd St
Victor, CO
Property Overview
Sales Price$649,000
Sale TypeInvestor
Building Size4,763 SF
Lot Size0.22 Acres
Property TypeMulti-family
Year Built1899
ZoningC-1
Property Description
This 7-unit multifamily investment property is a rare opportunity to acquire a stabilized asset in a growing mountain market. Originally built in 1899 and renovated in 2025, the property blends historic character with functional updates.
The building features seven residential units and is currently offered at an aggressive price of $649,000, providing an attractive 9.94% cap rate based on proforma performance. With a projected NOI of $64,512, this asset presents strong cash flow potential for investors seeking yield.
While the property could benefit from TLC, it offers immediate upside through operational improvements, unit additions (potentially subsidized by city), unit upgrades, and rental optimization. This is an ideal value-add opportunity for investors looking to enhance returns in a supply-constrained rental market.
The building features seven residential units and is currently offered at an aggressive price of $649,000, providing an attractive 9.94% cap rate based on proforma performance. With a projected NOI of $64,512, this asset presents strong cash flow potential for investors seeking yield.
While the property could benefit from TLC, it offers immediate upside through operational improvements, unit additions (potentially subsidized by city), unit upgrades, and rental optimization. This is an ideal value-add opportunity for investors looking to enhance returns in a supply-constrained rental market.
Property Highlights
- Value-Add Opportunity through light renovations
- Historic Building (Built 1899, Renovated 2008/2025)
- Strong Rental Demand in limited-supply market
- Walkable Downtown Location
- Proximity to Cripple Creek Employment Base
- Appealing Mountain Town Setting
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