Active
12778 W 31st Avenue
Wheat Ridge CO, 80215
$899,000
$250.84 per sqft
Active
8 Beds
4 Baths
3,584 sqft
Multi-family
Built in 1962
This is an excellent opportunity to own a brick 4-unit multifamily money-making machine. This property has a solid rental history earning over $7,000 a month in gross rents. THE PRICE HAS BEEN REDUCED AND IS PRICED TO SELL. All major items like electrical pan-els, water heaters, plumbing fixtures, kitchen cabinetry and countertops have been re-placed during the span of ownership and the roof is estimated to have been replaced less than 10 years ago and is in good condition. Typical maintenance has been done, but just like any property of this age there are other items that may need attention. However, at this NEW PRICE and with the exceptional rental income it simply makes financial sense with a cap rate of over 7%. The property is located in the desirable Wheat Ridge area of town and its location leads to easy access to I-70 and all its connections east and west. Quick ac-cess to Denver, Downtown, and the mountains and close to transportation, groceries, eat-eries, banking and shopping centers. The dwellings are completely occupied, and the ten-ants are very happy. Each unit has a fenced yard, granite counters, and the 2 lower units have new cabinets. One upper-level unit has refinished cabinets. Tenants pay for the gas, electric & trash. There is off-street parking for all 4 units. 12780 has had the same tenant for 10 years & control of the attached garage and storage area. Whether you are a savvy investor seeking immediate returns or just beginning your quest for a real estate portfolio, this one is worth serious consideration. Showings require a 24-hour notice so set that showing now. Important to note: 3 out of the 4 leases are coming up for renewal starting in September so there is an opportunity to raise rents, remodel, or move into one of the units. As mentioned, this one is worth serious consideration and ENCOURAGE YOU COME SEE IT BEFORE ITS GONE, AS ALL OFFERS WILL BE CONSIDERED.
2168665
MLSⓇ ID
March 20, 2024
Listed
May 9, 2024
Updated
Map
12778 W 31st Avenue
Wheat Ridge CO, 80215
Interior Features
Total Stories
1
Bedrooms
8
Total Bathrooms
4
Interior Features
Ceiling Fan(s), Eat-in Kitchen, High Speed Internet
Appliances
Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator
Floor Description
Carpet, Laminate, Tile, Vinyl, Wood
Fireplace
No
Cooling
No
Cooling Description
None
Heating
Yes
Heating Description
Forced Air
Exterior/Building Features
Lot Size
0.31 Acres
Exterior Features
Private Yard
Lot Features
Corner Lot, Level, Near Public Transit
Architectual Style
Contemporary
Roof
Composition
Sewer
Public Sewer
School Information
School District
Jefferson County R-1
High School
Wheat Ridge
Elementary School
Kullerstrand
Other Property Details
Taxes
$5,013
Tax Frequency
Annually
Garage
Yes
Garage Spaces
1
Parking
Concrete, Driveway-Dirt, Driveway-Gravel
Parking Total
8
View
No
County
Jefferson
Water Source
Public
Pool
No
Buyer Agency Compensation
2.5%
Listing History
Date | Event | Price |
|---|---|---|
5/7/2024 | Price Change | $899,000 -2% |
4/22/2024 | Price Change | $915,000 -4% |
4/5/2024 | Price Change | $950,000 -5% |
3/29/2024 | Price Change | $995,000 -4% |
3/20/2024 | Active | — |
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