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1435 Depew St 12 Unit Apartment Building $1,500,000 ($125,000/Unit) 3.49% Cap Rate Lakewood, CO 80214
EXECUTIVE SUMMARY
1435-1449 Depew St. includes three-four unit apartment buildings, totaling 12-units. The properties sit on a 24,134 SF lot zoned multifamily that is primed for redevelopment. Preliminary site review by architecture firm indicated that it’s possible to build a new 42-unit apartment building on the site, based on zoning requirements.
At such a low-cost basis, investors could also renovate existing 1Br/1Ba units, stabilize rents higher than in current condition and positively cash flow the buildings long term. We have existing relationship with the owner of adjacent identical 4-unit building, and it may be possible to purchase this property to include additional lot in redevelopment plan or just continue to positively cash flow all four buildings.
At such a low-cost basis, investors could also renovate existing 1Br/1Ba units, stabilize rents higher than in current condition and positively cash flow the buildings long term. We have existing relationship with the owner of adjacent identical 4-unit building, and it may be possible to purchase this property to include additional lot in redevelopment plan or just continue to positively cash flow all four buildings.
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$156,750
|
$74.22
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$156,750
|
$74.22
|
| Net Operating Income |
-
|
-
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $156,750 |
| Annual Per SF | $74.22 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $156,750 |
| Annual Per SF | $74.22 |
| Net Operating Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
PROPERTY FACTS Under Contract
| Price | $1,500,000 | Building Class | C |
| Price Per Unit | $125,000 | Lot Size | 0.55 AC |
| Sale Type | Investment | Building Size | 6,346 SF |
| Cap Rate | 3.49% | No. Stories | 2 |
| No. Units | 12 | Year Built | 1951 |
| Property Type | Multifamily | Opportunity Zone |
Yes
|
| Property Subtype | Apartment | ||
| Zoning | Multifamily | ||
| Price | $1,500,000 |
| Price Per Unit | $125,000 |
| Sale Type | Investment |
| Cap Rate | 3.49% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.55 AC |
| Building Size | 6,346 SF |
| No. Stories | 2 |
| Year Built | 1951 |
| Opportunity Zone |
Yes |
| Zoning | Multifamily |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 12 | - | 525 |
1 1
Walk Score®
Very Walkable (71)
Bike Score®
Very Bikeable (75)
PROPERTY TAXES
| Parcel Number | 49-011-00-004 | Improvements Assessment | $33,595 (2024) |
| Land Assessment | $7,101 (2024) | Total Assessment | $40,696 (2024) |
PROPERTY TAXES
Parcel Number
49-011-00-004
Land Assessment
$7,101 (2024)
Improvements Assessment
$33,595 (2024)
Total Assessment
$40,696 (2024)
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1435 Depew St
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