611 N 4th St is a 12 unit, two story apartment building for sale in Sterling, Colorado 80751, offered at $1,050,000, or $87,500 per unit. All 12 units are two bedroom, one bath apartments, and all 12 are leased on the November 4, 2026 rent roll. The building was built in 1965, has on site laundry, and sits just north of downtown Sterling, less than a mile from Northeastern Junior College. It fits local landlords, regional apartment investors and 1031 exchange buyers.
| Address | 611 N 4th St, Sterling, CO 80751 |
| County | Logan |
| Parcel | 38052529410016 |
| Property Type | Multifamily, Apartments |
| Units | 12, All Two Bedroom, One Bath |
| Asking Price | $1,050,000 |
| Price Per Unit | $87,500 |
| Cap Rate | 6.9% |
| Occupancy | 100% (Rent Roll 11/4/2026) |
| Building | Two Story, Built 1965 |
| Land Area | ±0.39 AC |
| Laundry | On Site |
| Tenant Paid Utilities | Electric and Cable |
611 N 4th St is a two story, 12 unit apartment building on a residential block just north of downtown Sterling, within walking distance of the downtown business district. Every unit is a two bedroom, one bath apartment with its entry off a covered exterior walkway, and the property includes an on site laundry room. Tenants pay their own electric and cable.
The property is 100% occupied and produced $72,768 in net operating income over the trailing 12 months, a 6.9% cap rate at the $1,050,000 asking price. Rental demand is supported by nearby Northeastern Junior College, Sterling Regional MedCenter and other major local employers. The rent roll, operating statements and leases are available to qualified buyers in the Due Diligence room.
All 12 units are leased as of the November 4, 2026 rent roll, for $10,635 per month and $127,620 per year in gross rents. Trailing 12 month and pro forma income and expenses are on the right.
| Unit | Type | Lease Start | Lease End | Monthly Rent |
|---|---|---|---|---|
| 1 | 2 Bed, 1 Bath | 4/22/2026 | 3/31/2027 | $950 |
| 2 | 2 Bed, 1 Bath | 12/1/2025 | Month to month | $950 |
| 3 | 2 Bed, 1 Bath | 11/30/2025 | 10/31/2026 | $950 |
| 4 | 2 Bed, 1 Bath | Month to month | Month to month | $850 |
| 5 | 2 Bed, 1 Bath | Month to month | Month to month | $700 |
| 6 | 2 Bed, 1 Bath | Month to month | Month to month | $800 |
| 7 | 2 Bed, 1 Bath | 9/28/2026 | 8/30/2027 | $950 |
| 8 | 2 Bed, 1 Bath | 9/16/2026 | 8/31/2027 | $985 |
| 9 | 2 Bed, 1 Bath | 11/30/2025 | 8/31/2026 | $800 |
| 10 | 2 Bed, 1 Bath | 11/30/2025 | 8/31/2026 | $900 |
| 11 | 2 Bed, 1 Bath | 11/30/2025 | 9/30/2026 | $950 |
| 12 | 2 Bed, 1 Bath | Month to month | Month to month | $850 |
| Total, 12 Units | $10,635 |
Source: rent roll dated 11/4/2026 from the property manager. Lease dates are shown as listed on the rent roll. Tenant names and balances are left out. Operating statements for 2025 and 2026 are in the Due Diligence room.
| Income | T12 | Pro Forma |
|---|---|---|
| Rental Income | $121,765 | $136,800 |
| Vacancy (5%) | ($6,840) | |
| Laundry Income | $832 | $900 |
| Deposit Adjustments | ($353) | |
| Total Income | $122,245 | $130,860 |
| Expenses | T12 | Pro Forma |
| Management | $14,776 | $13,086 |
| Lawn Care and Snow Removal | $539 | $600 |
| Utilities | $19,362 | $22,600 |
| Property Taxes (est.) | $5,000 | $5,000 |
| Insurance (est.) | $9,800 | $9,800 |
| Replacement Reserves | $3,000 | |
| Total Expenses | $49,477 | $54,086 |
| Net Operating Income | $72,768 | $76,774 |
Income and Expenses: T12: December 2025 through November 2026 (November partial), from the property manager operating statements. Pro Forma: 12 months. Owner disbursements are left out, and Repairs and maintenance are not shown. Property taxes ($5,000) and insurance ($9,800) are estimates, both to be confirmed. Tenants pay their own electric and cable, so utilities are owner paid only. Pro Forma assumes $950 per unit for all 12 units, 5% vacancy, management at 10%, utilities at the 2026 monthly average and $250 per unit in reserves. Cap rate at the $1,050,000 asking price, on T12 net operating income: 6.9%.
All 12 units are two bedrooms. The photos show vinyl plank floors in the kitchen, living area and bath, carpet in the bedrooms, and hot water baseboard heat from the boiler. Eight of the 12 units have been refurbished.
Unit photos provided by the owner, brightness and color corrected. Tap a photo to enlarge.
Sterling is the county seat of Logan County and the main service center for northeast Colorado, on the South Platte River and I-76. The city was incorporated in 1884 and had 13,735 residents in the 2020 Census. The building sits in the older grid of homes just north of downtown.
About 6,800 people live within one mile, and nearly half of those households rent. Most homes nearby were built before 1960, so newer rental housing is limited and two bedroom apartments stay in demand.
Major employers include Northeastern Junior College, 0.8 miles from the building, the Sterling Regional MedCenter about 2 miles away, the Sterling Correctional Facility and the RE-1 Valley School District.
The building is about 2 miles from I-76 Exit 125, and Denver is about 127 miles southwest, roughly 2 hours and 15 minutes by car.
| Metric | 1 Mile | 3 Miles | 5 Miles |
|---|---|---|---|
| Population | 6,838 | 13,778 | 14,606 |
| Households | 2,914 | 5,668 | 6,002 |
| Renter Households | 1,415 | 2,148 | 2,191 |
| Median HH Income | $45,982 | $53,358 | $55,260 |
| Median Age | 36.2 | 39.0 | 39.3 |
Source: CoStar demographics, 2025 estimates, measured from the property.
The building is offered at $1,050,000, or about $87,500 per unit for the 12 units.
There are 12 apartments, and every one is a two bedroom, one bath unit, in a two story building built in 1965.
Yes. The building is 100% occupied: all 12 units are leased on the November 4, 2026 rent roll.
Rents run from $700 to $985 per month, for $10,635 per month and $127,620 per year in gross rents on the November 4, 2026 rent roll.
Tenants pay their own electric and cable. The utilities in the income and expenses are the owner paid utilities.
Yes. Trailing 12 month income and expenses and a 12 month pro forma (T12 net operating income $72,768, a 6.9% cap rate at the asking price) are on this page, and the rent roll and operating statements are in the Due Diligence room for qualified buyers.
Local landlords, regional apartment investors, 1031 exchange buyers, first time multifamily buyers and owner managers looking for a stabilized small apartment building.
On North 4th Street just north of downtown Sterling, less than a mile from Northeastern Junior College and about 2 miles from I-76 Exit 125.
About 127 miles, roughly 2 hours and 15 minutes by car on I-76.
About 6,838 people live within one mile, nearly half of households rent, and the one mile median household income is about $45,982 (CoStar, 2025 estimates).
Contact Charlie Cummings at 720 583 5794 or charlie@innovate-cre.com. Tours are arranged with notice to tenants; please do not contact tenants or the property manager directly.
Disclaimer: The information on this page comes from the owner, the property manager and sources we believe are reliable, but Innovate Commercial Real Estate LLC has not verified it and makes no guarantee, warranty or representation about it. Buyers should do their own investigation of the property, including rents, expenses, leases and building condition.
Offering Terms: The asking price and terms are subject to the seller's approval and a fully executed purchase contract. The property may be withdrawn from the market or its terms changed at any time without notice.
