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1285 Ammons St 10 Unit Apartment Building $2,300,000 ($230,000/Unit) 7.22% Cap Rate Lakewood, CO 80214
Investment Highlights
- High growth location with walkability to Wadsworth Light Rail Station
- Well maintained units with dishwashers; achieving strong rents
- Recent updates include boilers, water heaters, windows, and electrical
- Separately metered electric - tenants pay direct
Executive Summary
1285-1295 Ammons is a 10-unit investment property in a high growth submarket. The buildings were constructed in 1961 and have had extensive recent improvements including boilers, water heaters, windows, and electrical. There is also a diverse unit mix that will perform well in all markets, consisting of two (2) - 1Bd/1Ba, four (4) 2Bd/1Ba, and four (4) - 3Bd/1Ba. The units are well maintained with dishwashers and achieving strong rents.
This deal is located in a high growth submarket with walkability to the Wadsworth Light Rail Station. There has been large scale redevelopment in the area including class A apartments, retail, and townhomes. For the right investor, this is an opportunity to buy a deal in a great location that will continue to improve over time.
This deal is located in a high growth submarket with walkability to the Wadsworth Light Rail Station. There has been large scale redevelopment in the area including class A apartments, retail, and townhomes. For the right investor, this is an opportunity to buy a deal in a great location that will continue to improve over time.
Property Facts
| Price | $2,300,000 | Apartment Style | Low-Rise |
| Price Per Unit | $230,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.46 AC |
| Cap Rate | 7.22% | Building Size | 10,220 SF |
| No. Units | 10 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | 4R, Lakewood | ||
| Price | $2,300,000 |
| Price Per Unit | $230,000 |
| Sale Type | Investment |
| Cap Rate | 7.22% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 10,220 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1/1,000 SF |
| Zoning | 4R, Lakewood |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | - |
| 2+1 | 4 | - | - |
| 3+1 | 4 | - | - |
1 1
Fairly walkable
50/100
Very drivable
80/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 49-022-18-001 | Improvements Assessment | $65,944 |
| Land Assessment | $24,938 | Total Assessment | $90,882 |
Property Taxes
Parcel Number
49-022-18-001
Land Assessment
$24,938
Improvements Assessment
$65,944
Total Assessment
$90,882
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1285 Ammons St
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