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Starlight Flats 10610 W 7th Pl 12 Unit Apartment Building $2,495,000 ($207,917/Unit) 5.93% Cap Rate Lakewood, CO 80215
Investment Highlights
- Beautifully renovated property with extensive recent improvements
- Capital improvements include exterior paint, landscaping, electrical panels, and swamp coolers
- 12/12 interiors recently renovated with new kitchens, bathrooms, floors, etc
- Well located near Belmar shopping and dining as well as the Federal Center with over 6,000 employees
Executive Summary
10610 W 7th Place is a 12-unit apartment community built in 1988 with an attractive unit mix of four 1-bedrooms and eight 2-bedrooms. There have been extensive recent improvements including 12/12 units completely redone, exterior paint, landscaping, electrical panels, and swamp coolers. The deal is well-located with easy access to the mountains as well as the Denver Federal Center with over 6,000 employees.
For the right investor, this is an excellent opportunity to buy a clean deal with a proven path to upside.
For the right investor, this is an excellent opportunity to buy a clean deal with a proven path to upside.
Property Facts
| Price | $2,495,000 | Building Class | C |
| Price Per Unit | $207,917 | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 7,665 SF |
| Cap Rate | 5.93% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1988/2022 |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $2,495,000 |
| Price Per Unit | $207,917 |
| Sale Type | Investment |
| Cap Rate | 5.93% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 7,665 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1988/2022 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 475 |
| 2+1 | 8 | - | 725 |
1 1
Fairly walkable
40/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 49-044-17-002 | Improvements Assessment | $123,038 |
| Land Assessment | $34,493 | Total Assessment | $157,531 |
Property Taxes
Parcel Number
49-044-17-002
Land Assessment
$34,493
Improvements Assessment
$123,038
Total Assessment
$157,531
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