Description

We are offering a single-family home and a three-unit income property on one lot at 223 Main Street in downtown Meeker, Colorado, for $615,000. The four units total about 5,633 square feet, and the original construction dates to 1950.

The layout works for two kinds of buyers. An owner-occupant can live in the main house while the triplex income helps cover the mortgage, and an investor can operate all four units as a small rental portfolio. Few properties in Meeker offer that flexibility in a single purchase. It is a practical way to start building equity.

Every unit currently rents below market. The single-family home rents for $1,790 per month against an estimated market rent of $2,500, and the triplex brings in $1,800 per month in total against an estimated $2,700. At full stabilization, combined rent would reach about $5,200 per month, a 44.8 percent increase over current income, without new construction or major capital work. Because the units are already rented, a buyer starts with income on day one while planning rent increases as leases turn over.

The property is within walking distance of Main Street shops and restaurants and the White River, in a Western Slope town known for hunting, fishing and access to the Flat Tops Wilderness. In our view, this is an approachable, flexible investment with clear upside. Contact David Barocas, Andy Monette or Corey Sandberg of Pinnacle Real Estate Advisors for the investment analysis.