This 8-plex apartment, made up of 1 bed, 1 bath units, is located just two short blocks from the newly developed University of Colorado Anschutz Medical Campus, the largest academic health center in the Rocky Mountain region. The campus includes the University of Colorado health professional schools, multiple centers and institutes and two nationally ranked hospitals, UC Health University of Colorado Hospital and Children's Hospital Colorado, which treat nearly 2 million patients each year. Today the CU ANschutz Medical Campus serves 4,500 students in more than 40 highly rated degree programs across six schools and colleges. At the far Eastern edge of the Anschutz Medical Campus is the newly opened Veteran's Affairs Hospital.
The 8-plex was built in 1959 and I completely remodeled four kitchens in 2011/12 including new a kitchen design which accommodates a full-size stove, refrigerator, dishwasher, microwave oven and offers new lower and upper cabinets which tripled both the counter space and the cabinet space. Both the newly renovated kitchens and the old, original designed kitchens are shown in the attached photos. Each unit has a walk-in closet off the bedroom and each bath has both a tub and shower. The four upper units have new 220 volt through-the-wall air conditioners while the four bottom units have 110 volt individual A/C window units. An on-site manager/VA tenant provides routine care and management of the complex which lessens the need for off-site professional management. A four-zone sprinkler system keeps the front lawn green and watered. The units are heated by a new central boiler which was installed in 2011 and provides heat controlled by individual unit thermostats. Thirty-two new doubled-pane vinyl windows were installed in 2012 and additional insulation and a completely new roof were installed as well. Currently there are 6 veterans renting units, mostly subsidized by government funding so checks from HUD/VASH come regularly on the first of each month. Rent includes all utilities, trash pickup, heat, and A/C. VA Housing Choice Vouchers for 1 bedroom units are now at $1204 so there is room to raise rents when most leases expire next summer. This is a good 1031 exchange property as I am going to 1031 out of this property and would like to close by the end of the year. Please contact me with any questions, Bill Wagner, Broker/Owner, 303-564-7700.
