9493 W 14th Avenue, Lakewood, CO 80215

Sold Price
List Price
Closing Date
Dec 11, 2020
MLS Number
Total Sqft
Year Built

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

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Tax Year
Financial Terms

Courtesy of Ecospace, Inc

Selling Office: Pinnacle Real Estate Advisors.

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Calculator source: Real Geeks

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