1020 16th, Delta, CO, 81416

STABLE – INCOME PRODUCING 3 UNITS on 4.7+ acres w/ 6.6%CAP rate. (3k per month, in total , currently under rented)

A Single family home w/ two additional mobiles on the property + Irrigation water also!
FULLY OCCUPIED – DO NOT DISTURB TENANTS!
Live in one, rent out the others?(live rent free)! Very stable w/ long-term tenants of 1 + years ,that want to stay.
. Views to Grand Mesa, inside the city limits! near the High School. ****4.8 shares of irrigation deeded water UVWUA**** The Main stick built adobe home (1020 16th st ) is 1, 392 feet (3/2) 2 stories – All new flooring, paint, a new $4000 furnace, and new hot water heater! Lots of upgrades! The 1st rental/mobile (1010 16th st) 804 SF 2/1.New Flooring, Paint, Roof re-coated The 2nd rental /mobile (1030 16th st ) 1, 078 feet 2/2 . New Flooring, Paint, Roof re-coated Both mobiles’ roof’s have had full waterproofing and paint work in 2020. All 3 units have W/D hookups and exterior storage sheds Delta, CO, Western slope of Colorado. 20 min to Montrose or 40 to Grand Junction. Great income potential – Hold as pure investment or live in one, rent out the other two. Remodeled 2020. 3 sewer and 3 water taps – All tenants pay their own electric, gas, water, sewer, trash. 3 separate addresses per assessor, room to farm or subdivide in the future for more lots. Develop? Plenty of room. 3-4 out buildings/sheds. Other Upgrades/Notes from 2020 remodel: 2 out of 3NEW hot water heaters, new stone and wood interior upgrades. 2 granite counters. New vanity’s! Homes are old but have a vibrant modern feel. Huge lawn on the East and acres to work on in the back with irrigation ditches/canals/pipes. Irrigation water ditch cuts thru the property! In town convenience w/ out of town space + views! Some new fencing. Showers in all bathrooms. Both mobiles have tubs, No Tub in stick built home. Current market gross rent likely closer to 38K/yr. Built in value w/ future development potential/farm/water rights. Proj. Cap Over 7%!!