Log In/Sign Up
Your email has been sent.
1951 Upham 1951 Upham St 7 Unit Apartment Building $1,350,000 ($192,857/Unit) 7.07% Cap Rate Lakewood, CO 80214
Investment Highlights
- Pride of ownership – well maintained property
- Loan assumption with 4.1% interest through 2031 available
- All 2- and 3-bedroom units
- 0% historical vacancy in over 36 months!
- Recent updates to interiors, roof (2024), parking lot (2025), windows, boiler, laundry, sprinkler system, fence, and exterior stairs
- Potential 10% cash on cash return for an owner manager
Executive Summary
1951 Upham St. is a 7-unit apartment community built in 1961 with recent updates to interiors, roof, parking lot, sprinkler system, fence, and exterior stairs. The building is composed of all 2 and 3 bedrooms units. Pride of ownership is clearly apparent in this well maintained property. Tenant retention has been strong and there is potential rent upside as evidenced in 0% historical vacancy over the last 3 years.
The property is in a growth location roughly 1 mile from the Wadsworth Light Rail Station. A strong draw to this deal is the assumable loan option with a 4.1% interest rate fixed through 2031. With this path, there is potential for 10% cash on cash return for an owner manager. This is a rare opportunity to buy a well-maintained property that will continue to improve over time.
The property is in a growth location roughly 1 mile from the Wadsworth Light Rail Station. A strong draw to this deal is the assumable loan option with a 4.1% interest rate fixed through 2031. With this path, there is potential for 10% cash on cash return for an owner manager. This is a rare opportunity to buy a well-maintained property that will continue to improve over time.
Property Facts
| Price | $1,350,000 | Building Class | C |
| Price Per Unit | $192,857 | Lot Size | 0.31 AC |
| Sale Type | Investment | Building Size | 5,445 SF |
| Cap Rate | 7.07% | No. Stories | 2 |
| No. Units | 7 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.29/1,000 SF |
| Property Subtype | Apartment | ||
| Zoning | MRU | ||
| Price | $1,350,000 |
| Price Per Unit | $192,857 |
| Sale Type | Investment |
| Cap Rate | 7.07% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.31 AC |
| Building Size | 5,445 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.29/1,000 SF |
| Zoning | MRU |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Refrigerator
- Carpet
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 6 | - | 725 |
| 3+2 | 1 | - | 875 |
1 1
Moderately walkable
60/100
Very drivable
80/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 39-354-03-003 | Improvements Assessment | $81,190 |
| Land Assessment | $17,125 | Total Assessment | $98,315 |
Property Taxes
Parcel Number
39-354-03-003
Land Assessment
$17,125
Improvements Assessment
$81,190
Total Assessment
$98,315
1 of 14
Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
Street View
Street
Map
1 of 1
Presented by
1951 Upham | 1951 Upham St
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.