Key Details
Property Type Multi-Family
Sub Type Quadplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,264 sqft
Price per Sqft $336
Subdivision Wheatridge
MLS Listing ID 8193818
Style Denver Square
Bedrooms 8
HOA Y/N No
Abv Grd Liv Area 3,264
Originating Board recolorado
Year Built 1959
Annual Tax Amount $3,558
Tax Year 2023
Lot Size 8,276 Sqft
Acres 0.19
Property Sub-Type Quadplex
Property Description
Unlock the potential of income-generating real estate with this exceptional 4-plex in the heart of Wheat Ridge, Colorado. This property offers investors a prime opportunity to capitalize on the growing rental demand while benefiting from a modern living environment designed for tenant satisfaction.
Units: 4 (Each featuring 2 Bedrooms and 1 Bathroom)
Key Features:
Each unit is being updated with contemporary designs that appeal to today's renters.
High Rental Income Potential: With a projected gross income of $102,768 annually, this property is positioned to maximize returns, yielding a strong Projected Cap Rate of 8.83% based on an all-cash offer and anticipated operating income.
Each unit's functional layout ensures tenant comfort, maximizing occupancy and minimizing turnover.
Located near shopping, dining, and parks, residents enjoy an active lifestyle with easy access to major highways.
Wheat Ridge is rapidly growing, making it a hot market for rental properties, evidenced by competitive rental rates found on Zillow.
Recent comps in the area indicate rental rates aligning with the monthly rate of $8,564, demonstrating strong demand and validating the investment potential of this property.
Nearby properties are achieving similar occupancy rates, establishing Wheat Ridge as a thriving rental market.
Investment Summary:
Gross Income: $102,768
Annual Operating Expenses: $6,000
Actual Annual Net Income: $96,768
Cap Rate: Approximately 8.83% (based on an all-cash offer)
Price: $1,095,000
Don't let this opportunity pass you by! Whether you're a seasoned investor or new to the multi-family market, this 4-plex in Wheat Ridge is set to deliver excellent returns and long-term growth potential. Contact us today to schedule a walkthrough and discover how you can make this prime income property your own!
Location
State CO
County Jefferson
Interior
Heating Forced Air
Cooling None
Flooring Carpet, Laminate
Fireplace N
Appliance Convection Oven, Disposal, Gas Water Heater, Oven, Refrigerator
Laundry None
Exterior
Exterior Feature Balcony
Parking Features Concrete
Fence None
Utilities Available Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected
Roof Type Composition
Total Parking Spaces 6
Garage No
Building
Foundation Block
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick
Schools
Elementary Schools Belmar
Middle Schools Everitt
High Schools Wheat Ridge
School District Jefferson County R-1
Others
Senior Community No
Ownership Estate
Acceptable Financing Cash, Conventional, Jumbo, Other
Listing Terms Cash, Conventional, Jumbo, Other
Special Listing Condition Equitable Interest
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
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