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Grove Gardens 3076 W 71st Way 36 Unit Apartment Building $5,470,000 ($151,944/Unit) 6.81% Cap Rate Westminster, CO 80030
Investment Highlights
- $680,000 Price Reduction!!
- Priced Well Below Comparable Properties at Just $170k/Unit
- Short Walk to Major Planned Developments: Northgate Center (Directly Across Street) and Sherman Redevelopment (1/4 Mile South)
- 6.81% Current CAP Rate!!
- All 2Bd/1Ba Units on Large, 1 Acre Lot
- Favorable SPD Zoning (Specific Plan District) Allows for Multiple Future Redevelopment Options
Executive Summary
MASSIVE PRICE REDUCTION! 36-Units in Westminster, CO; 7.01% Current CAP Rate!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$601,500
|
$21.98
|
| Other Income |
$5,184
|
$0.19
|
| Vacancy Loss |
$30,334
|
$1.11
|
| Effective Gross Income |
$576,350
|
$21.07
|
| Taxes |
$38,663
|
$1.41
|
| Operating Expenses |
$165,260
|
$6.04
|
| Total Expenses |
$203,923
|
$7.45
|
| Net Operating Income |
$372,427
|
$13.61
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $601,500 |
| Annual Per SF | $21.98 |
| Other Income | |
|---|---|
| Annual | $5,184 |
| Annual Per SF | $0.19 |
| Vacancy Loss | |
|---|---|
| Annual | $30,334 |
| Annual Per SF | $1.11 |
| Effective Gross Income | |
|---|---|
| Annual | $576,350 |
| Annual Per SF | $21.07 |
| Taxes | |
|---|---|
| Annual | $38,663 |
| Annual Per SF | $1.41 |
| Operating Expenses | |
|---|---|
| Annual | $165,260 |
| Annual Per SF | $6.04 |
| Total Expenses | |
|---|---|
| Annual | $203,923 |
| Annual Per SF | $7.45 |
| Net Operating Income | |
|---|---|
| Annual | $372,427 |
| Annual Per SF | $13.61 |
Property Facts
| Price | $5,470,000 | Building Class | C |
| Price Per Unit | $151,944 | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 27,938 SF |
| Cap Rate | 6.81% | No. Stories | 2 |
| No. Units | 36 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $5,470,000 |
| Price Per Unit | $151,944 |
| Sale Type | Investment |
| Cap Rate | 6.81% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 27,938 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.5/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
- Handrails
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 36 | $1,421 | 767 |
1 1
Walk Score®
Very Walkable (81)
Property Taxes
| Parcel Number | 1825-05-2-01-024 | Total Assessment | $330,000 (2024) |
| Land Assessment | $22,780 (2024) | Annual Taxes | $38,663 ($1.38/SF) |
| Improvements Assessment | $307,220 (2024) | Tax Year | 2025 |
Property Taxes
Parcel Number
1825-05-2-01-024
Land Assessment
$22,780 (2024)
Improvements Assessment
$307,220 (2024)
Total Assessment
$330,000 (2024)
Annual Taxes
$38,663 ($1.38/SF)
Tax Year
2025
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Grove Gardens | 3076 W 71st Way
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