NOT LISTED FOR SALE

505 Pierce St Erie, CO 80537

Old Town Erie Neighborhood
10 Beds
4 Baths
4,380 Sq Ft
7,500 Sq Ft Lot

Last Sold May 15, 2019

Last sale price $765,000 $175 Per Sq Ft

Highlights

  • Contemporary Architecture
  • Corner Lot
  • Brick Veneer
  • Erie Elementary School Rated A
  • No HOA
  • 4-minute walk to Coal Creek Park

About This Home

As of May 2019

Great investment opportunity in the heart of downtown Erie! The spectacular 4-unit building features a total of 10 bedrooms and 4 bathrooms with 0% Vacancy! Unit one rents for $1,200 per month, Unit Two rents for $1,200 per month, Unit Three rents for $1,200 per month, and Unit Four rents for $1,100 per month amounting to $51,600 of potential rental income before operating expenses.

Last Agent to Sell the Property

Steven Noel

RE/MAX Alliance-Longmont Listed on: 02/13/2019

Co-Listed By

Chris Martinez

RE/MAX Alliance-Longmont

Last Buyer's Agent

Non-IRES Agent

Non-IRES

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $2,362

Year Built

  • Built in 1976

Lot Details

  • 7,500 Sq Ft Lot
  • South Facing Home
  • Southern Exposure
  • Corner Lot
  • Level Lot

Parking

  • Driveway Level

Home Design

  • Contemporary Architecture
  • Brick Veneer
  • Wood Frame Construction
  • Composition Roof
  • Wood Siding
  • Concrete Siding

Interior Spaces

  • 4,380 Sq Ft Home
  • 2-Story Property
  • Ceiling Fan
  • Disposal

Bedrooms and Bathrooms

  • 10 Bedrooms
  • 4 Bathrooms

Schools

  • Eagle Crest Elementary School
  • Erie Middle School
  • Erie High School

Utilities

  • Cooling Available
  • Forced Air Heating System
  • High Speed Internet
  • Satellite Dish
  • Cable TV Available

Additional Features

  • Energy-Efficient Thermostat
  • Exterior Lighting

Listing and Financial Details

  • Tenant pays for deposit, gas, electricity
  • Assessor Parcel Number R5757286

Community Details

Overview

  • No Home Owners Association
  • 10 Units
  • Erie Town Subdivision

Building Details

  • Gross Income $51,600
  • Net Operating Income $41,570

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$2,362

Year Built

Built in 1976

Lot Details

0

Listing Details

  • Year Built: 1976
  • Property Sub Type: Income Property
  • Prop. Type: Residential Income
  • Horses: No
  • Lot Size Acres: 0.17
  • Road Frontage Type: City Street
  • Road Surface Type: Paved, Asphalt
  • Co List Office Mls Id: LRMA
  • Subdivision Name: Erie Town
  • Directions: Head south on County Line Road then turn left onto Cheesman Street. Turn right onto Pierce Street then the destination is on your left.
  • Architectural Style: Contemporary/Modern
  • Unit Levels: Two
  • New Construction: No
  • Efficiency: Southern Exposure, Thermostat
  • Building Stories: 2
  • IRESDS_HasWaterRights: No
  • IRESDS_Total Sq Ft: 4380
  • Special Features: None
  • Stories: 2

Interior Features

  • Possible Use: Multi-Family
  • Private Spa: No
  • Appliances: Some Appliances, Disposal
  • Accessibility Features: Level Lot, Level Drive
  • Has Basement: None
  • Total Bedrooms: 10
  • Interior Amenities: Satellite Avail, High Speed Internet
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Roof: Composition
  • Lot Features: Curbs, Gutters, Sidewalks, Fire Hydrant within 500 Feet, Corner Lot, Level
  • Waterfront: No
  • Construction Type: Wood/Frame, Brick/Brick Veneer, Wood Siding, Concrete
  • Direction Faces: South
  • Exterior Features: Lighting
  • Property Condition: Not New, Previously Owned

Utilities

  • Cooling: Ceiling Fan(s)
  • Electric: Electric, United Power
  • Heating: Forced Air
  • Utilities: Natural Gas Available, Electricity Available, Cable Available
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Sewer: City Sewer
  • Water Source: City Water, Town of Erie
  • Gas Company: Natural Gas, Xcel

Condo/Co-op/Association

  • Senior Community: No
  • Association: No

Schools

  • Elementary School: Eagle Crest
  • HighSchool: Erie
  • Junior High Dist: ST Vrain Dist RE 1J
  • Middle Or Junior School: Erie

Lot Info

  • Zoning: MLT FAM DW
  • Lot Size Sq Ft: 7500
  • Parcel #: R5757286
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Deposit, Gas, Electricity

Tax Info

  • Tax Year: 2017
  • Tax Annual Amount: 2362

Multi Family

  • Number Of Units Total: 10
  • Annual Gross Income: 51600
  • Income Includes: ["Lease/Rents"]
  • Annual Operating Expense: 10030.3

Range of Values:

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Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Property History

Date Event Price Change Sq Ft Price
08/12/2020 08/12/20 Off Market $765,000 -- --
05/15/2019 05/15/19 Sold $765,000 +2.0% $175 / Sq Ft
02/13/2019 02/13/19 For Sale $750,000 -- $171 / Sq Ft
Source: IRES MLS

Tax History Compared to Growth

Source: Public Records

Agents Affiliated with this Home

  • Steven Noel

    Seller's Agent in 2019

    Steven Noel

    RE/MAX

    (303) 499-9880

    113 Total Sales

    Steven Noel
    Section Image
  • Chris Martinez

    Seller Co-Listing Agent in 2019

    Chris Martinez

    RE/MAX

    (720) 232-8947

    316 Total Sales

    Chris Martinez
    Section Image

  • N

    Buyer's Agent in 2019

    Non-IRES Agent

    CO_IRES

See All Agents

Map

Source: IRES MLS

MLS Number: 872188

IRES MLS
Colorado Weld County Erie 80516 Old Town Erie

505 Pierce St, Erie, CO

This home is located at 505 Pierce St, Erie, CO 80537 since 13 February 2019. This property was built in 1976. 505 Pierce St is a home located in Weld County with nearby schools including Erie Elementary School, Erie Middle School, and Erie High School.

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

IRES MLS Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.

Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Information deemed reliable but not guaranteed by the MLS.

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