Center Apartments
14 Unit Apartment Building | $3,750,000 ($267,857/Unit) | 5.72% Cap Rate | Lakewood, CO 80226
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,750,000
- Property Type
-
Multifamily
- Square Feet
- 12,900 SF
Listing Contacts
Hunter Schaefer
Verified Profile
Jack Sherman
Verified Profile
- Property Info
Property Overview
Center Apartments is a completely renovated 14 unit apartment community in Lakewood, Colorado. Recent improvements include roofs, furnaces, windows, retaining walls, exterior paint, landscaping, decks, and stairs. The unit mix is entirely oversized 2 bedrooms with large windows, central AC, in unit laundry, and high end finishes that set the units above other nearby housing options. Pride of ownership is clearly apparent in this well maintained and professionally managed community.
The property is tucked away in a quiet residential pocket near a Montessori School and new residential development. Tenants enjoy easy access to Hwy-6, I-70, I-25, & Hwy-85. For this right investor, this is a great opportunity to buy clean, premium units in a growing submarket that will continue to appreciate.
The property is tucked away in a quiet residential pocket near a Montessori School and new residential development. Tenants enjoy easy access to Hwy-6, I-70, I-25, & Hwy-85. For this right investor, this is a great opportunity to buy clean, premium units in a growing submarket that will continue to appreciate.
Property Details
- Class
- C
- Year Built/Renovated
- 1983/2014
- Stories
- 2
- Lot Size (sq. ft)
- 24,394 SF
- Units
- 14
Highlights
- All units are completely renovated and feature oversized floorplans with central AC and in-unit laundry
- Recent improvements include newer roofs, furnaces, windows, retaining walls, exterior paint, landscaping, decks & stairs
- Tucked away in a quiet residential pocket near a Montessori School and new residential development
- Separately metered gas & electric - tenants pay direct
- Individually deeded, potential to sell off as condos
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