The Evergreen Apartments is a 24-unit multi-family property located just west of downtown Trinidad, Colorado.     The Evergreen is well maintained and has recently received capital improvements including the installation of a modern steel handrail system, and a new roof (2022). The Evergreen is positioned for an investor seeking current income and long-term capital appreciation. The property is an immediate 7.00% cap rate with the ability to raise rents by converting units to service shorter term “Workforce Housing.” The Evergreen generally appeals to remote workers and those drawn to Trinidad because of Trinidad’s low cost of living and proximity to recreation amenities. Trinidad is 15% less expensive than the national average cost of living and 22% less expensive than the average Colorado city. Local recreational amenities include Fishers Peak State Park, Lake Trinidad, robust mountain biking trails, fishing, camping, hunting, golfing, pickleball, etc., and a state college. Trinidad State College was established in 1925 as the first community college in Colorado. It is a 17 acre campus with around 2,000 students who seek degrees in arts, science, general studies, agribusiness, business, education, animal science and applied technology. Technical trade areas of study include line worker, auto mechanic, cosmetology, gun smithing, emergency medical technology, nursing, criminal justice which bridge to 4 year degree programs.     Originally constructed in 1995, the 3-building complex sits on 1.7 acres and boasts expansive 360 degree mountain views. The property has 24 apartments – (10) two-bedroom units and (14) three-bedroom units. The 2 bedroom units are 1,000 sf and the 3 bedroom units are 1,200 sf. The current gross monthly rent is $31,250. There is an assumable loan in the amount of $1,519,000 at 3.87% interest rate. Annual property taxes are $8,000 and the annual property insurance premium is $28,000. Contact Kenny Juarbe at (719) 237-6065 for more information.