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The Pines Apartments 10635 W 7th Ave 10 Unit Apartment Building $2,300,000 ($230,000/Unit) 5.50% Cap Rate Lakewood, CO 80215
INVESTMENT HIGHLIGHTS
- ALL OVERSIZED 2BD/2BA & 3BD/2BA UNITS INCLUDING TWO 3BD/2BA TOWNHOMES
- NEAR OAK STREET & FEDERAL CENTER LIGHT RAIL STATIONS
- FUTURE POSSIBLE CONDO CONVERSION OPPORTUNITY
- TURN-KEY OPPORTUNITY WITH UPDATED KITCHENS, BATHS, AND FLOORING
- CLOSE TO ST. ANTHONY’S HOSPITAL
- TENANT STORAGE LOCKERS
EXECUTIVE SUMMARY
The Pines Apartments building is a beautiful combination of residential comfort and modern convenience building in the heart of Lakewood’s Majestic Heights
neighborhood. The pet-friendly and professionally managed property offers a generous mix of spacious 2-bedroom/2-bathroom units and 3-bedroom/2-bathroom units, including two unique 2-story townhome-style 3-bedroom/2-bathroom residences. The entire 10-unit building has been substantially upgraded, featuring key capital improvements like a newer hail resistant roof (2017). Inside, every unit has been updated, showcasing comprehensive renovations that include modern finishes, upgraded appliances, new cabinets and countertops, and new durable flooring. On-site amenities include 10 dedicated carports in the back for private covered parking, a 24-hour shared laundry facility, and extra resident storage.
neighborhood. The pet-friendly and professionally managed property offers a generous mix of spacious 2-bedroom/2-bathroom units and 3-bedroom/2-bathroom units, including two unique 2-story townhome-style 3-bedroom/2-bathroom residences. The entire 10-unit building has been substantially upgraded, featuring key capital improvements like a newer hail resistant roof (2017). Inside, every unit has been updated, showcasing comprehensive renovations that include modern finishes, upgraded appliances, new cabinets and countertops, and new durable flooring. On-site amenities include 10 dedicated carports in the back for private covered parking, a 24-hour shared laundry facility, and extra resident storage.
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2025) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,300,000 | Building Class | C |
| Price Per Unit | $230,000 | Lot Size | 0.48 AC |
| Sale Type | Investment | Building Size | 10,782 SF |
| Cap Rate | 5.50% | No. Stories | 2 |
| No. Units | 10 | Year Built/Renovated | 1977/2017 |
| Property Type | Multifamily | Parking Ratio | 1.2/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | 5-R, Lakewood | ||
| Price | $2,300,000 |
| Price Per Unit | $230,000 |
| Sale Type | Investment |
| Cap Rate | 5.50% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.48 AC |
| Building Size | 10,782 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1977/2017 |
| Parking Ratio | 1.2/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 5-R, Lakewood |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+2 | 6 | - | 900 - 950 |
| 3+2 | 4 | - | 1,150 - 1,200 |
1 1
PROPERTY TAXES
| Parcel Number | 49-044-17-012 | Total Assessment | $166,120 (2024) |
| Land Assessment | $27,726 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $138,394 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
49-044-17-012
Land Assessment
$27,726 (2024)
Improvements Assessment
$138,394 (2024)
Total Assessment
$166,120 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
(303) 962-9543
x117
CONTACTS
-
Jim Knowlton -
Chris Knowlton -
Jennifer King -
Mark Knowlton -
Quentin Shore -
Pinnacle Real Estate Advisors
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The Pines Apartments | 10635 W 7th Ave
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