9493 W 14th Avenue, Lakewood, CO 80215

$1,652,500
Sold Price
$1,652,500
List Price
$1,650,000
Closing Date
Dec 11, 2020
Type
Multifamily
Status
CLOSED
MLS Number
8051139
Total Sqft
9350
Year Built
1957

Property Description

Hoyt Eight provides a wonderful opportunity to purchase a fully leased and stabilized cash-flowing asset with the bonus to capture value add through rent increases and utilization of the 1,500 square foot basement into storage units. The property maintained 100% occupancy and had zero delinquencies during COVID and this past year. The actual cap rate at listing is 6.23% and proforma 6.89%. The 8 units are a good mix between 6 two-bedroom units and 2 three-bedroom units. The structure will be low maintenance with its all brick construction and newer 2017 roof. 4 of the units have been fully updated with the remaining 4 in good rentable condition. A close walk to all the amenities on Colfax and the Garrison Ling Rail State (W Line). Lastly, you'll notice the significant amount of new construction that has happened all around the property. To the West is a new construction multi family project and directly to the south Century Communities is building a 80+ unit townhome project called Pearson Grove that will be priced at $420,000 per unit.

Additional Information

Lot Size
13,723
Acres
0.32
Contstruction
Brick
Taxes
$8,896
Tax Year
2019
Financial Terms
Conventional

Courtesy of Ecospace, Inc

Selling Office: Pinnacle Real Estate Advisors.

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