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1125 W 6th StCraig, CO 81625
Remington Village Apartments
Asset ClassMultifamily
# Units64
# Buildings: 4Year Built: 1979Access Data Room
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Overview

Marcus & Millichap is pleased to present Remington Village Apartments, a 64-unit multifamily community located in Craig, CO, primmed for renovation. This property offers a unique investment opportunity in a stable market with strong demand for obtainable housing. The complex features a mix of two- and three-bedroom units with significant vacancy, allowing an investor to immediately renovate units. With limited new competition in the area, the property presents opportunities for rent growth and operational efficiencies. Located in a region with a diverse economy driven by energy, agriculture, and other industries, Remington Village Apartments offers a compelling opportunity for investors seeking to get their hands dirty and create value.

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Investment Highlights

Workforce Housing in a High-Barrier Market Craig, Colorado offers a rare opportunity to provide attainable housing in a region facing mounting affordability challenges. With nearby Steamboat Springs experiencing skyrocketing home prices and limited rental inventory, Craig has become an increasingly attractive alternative for renters priced out of more expensive markets. This property allows investors to serve a demand-heavy segment known as the "missing middle"—those earning too much to qualify for affordable housing but unable to afford homeownership.

 

Strategic Location with Regional Connectivity Located just 45 miles from Steamboat Springs, Craig benefits from its proximity to one of Colorado’s premier ski destinations while offering significantly lower living costs. This makes it an ideal location for seasonal workers, hospitality employees, and service professionals seeking housing near their employment hubs. As a regional center for Northwest Colorado, Craig draws residents from surrounding communities for jobs, healthcare, and education.

 

Strong Demand, Limited Supply New multifamily development in Craig is limited due to high construction costs and a challenging development environment, creating a favorable supply-demand imbalance. As rental demand continues to outpace new inventory, existing assets like Remington Village stand to benefit from upward rent pressure and strong occupancy. Investors can unlock value through unit upgrades and capturing market-rate rents.

 

Diversifying Local Economy Enhances Stability While historically tied to the energy sector, Craig’s economy is becoming more diversified with growth in healthcare, education, agriculture, and tourism. This shift reduces economic risk and broadens the tenant base, making the market more resilient and better positioned for sustained multifamily performance.

 

Outdoor Recreation and Lifestyle Appeal Craig is known as the “Elk Hunting Capital of the World” and offers exceptional access to outdoor recreation including fishing, hiking, and winter sports. These amenities attract both seasonal visitors and long-term residents looking for the Colorado lifestyle at an affordable cost. Properties like Remington Village can benefit from tenant demand driven by the area’s outdoor appeal, with additional potential from short-term or seasonal rentals.

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1125 W 6th StCraig, CO 81625
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Listing provided by Revere CRE