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Key Details
Sold Price $2,127,500
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 5368937
Sold Date 08/19/24
Style Traditional
HOA Y/N No
Originating Board recolorado
Year Built 1961
Annual Tax Amount $13,706
Tax Year 2023
Lot Size 10,890 Sqft
Acres 0.25
Property Description
Discover a prime investment opportunity with this 14-unit apartment building, conveniently located in the vibrant Mar Lee neighborhood of Denver. 3002 W Colorado Ave is a well-maintained property featuring a brick exterior and consisting of SIX two-bedroom, one-bathroom units, and EIGHT one-bedroom, one-bathroom units. Each unit boasts similar amenities, natural light and efficient floor plans, and all are comparable in finishes. There is a dedicated, uncovered parking space per unit (totaling 14). Recent improvements to the building include a two-year old boiler unit and newer catwalks and metal stairs, in addition to the new trash dumpster surround, insulation work, and new windows in one unit. Tenants share an on-site, coin-laundry room with two washers and two dryers, and also have the option to utilize indoor bike storage with provided bike racks. Currently, tenants pay for their own electric service to Xcel Energy; Owner bills back to tenants for natural gas (per sq. ft.) and water (per capita usage.) This property has consistently high occupancy with decades of stable ownership and management. There is potential for rent increases and value-add improvements. Don't miss out on this rare, income-producing Denver investment. Contact us today for more details and to schedule a viewing.
Location
State CO
County Denver
Zoning S-MU-3
Interior
Fireplace N
Exterior
Roof Type Composition
Total Parking Spaces 14
Garage No
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Bought with NON MLS PARTICIPANT
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Diana Nelson
Team Leader | License ID: FA100065608
Team Leader License ID: FA100065608