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Grove Gardens 3076 W 71st Way 36 Unit Apartment Building $4,900,000 ($136,111/Unit) 7.55% Cap Rate Westminster, CO 80030
Investment Highlights
- $1,250,000 Total Price Reduction!!
- Priced Well Below Comparable Properties: Just $136k/Unit & $175/SF
- Short Walk to Major Planned Developments: Northgate Center (Directly Across Street) and Sherman Redevelopment (1/4 Mile South)
- 7.55% 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
$1,250,000 PRICE REDUCTION! 36-Units in Westminster, CO; 7.55% CAP Rate
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$597,900
|
$21.85
|
| Other Income |
$5,184
|
$0.19
|
| Vacancy Loss |
$30,154
|
$1.10
|
| Effective Gross Income |
$572,930
|
$20.94
|
| Taxes |
$33,770
|
$1.23
|
| Operating Expenses |
$169,261
|
$6.19
|
| Total Expenses |
$203,031
|
$7.42
|
| Net Operating Income |
$369,899
|
$13.52
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $597,900 |
| Annual Per SF | $21.85 |
| Other Income | |
|---|---|
| Annual | $5,184 |
| Annual Per SF | $0.19 |
| Vacancy Loss | |
|---|---|
| Annual | $30,154 |
| Annual Per SF | $1.10 |
| Effective Gross Income | |
|---|---|
| Annual | $572,930 |
| Annual Per SF | $20.94 |
| Taxes | |
|---|---|
| Annual | $33,770 |
| Annual Per SF | $1.23 |
| Operating Expenses | |
|---|---|
| Annual | $169,261 |
| Annual Per SF | $6.19 |
| Total Expenses | |
|---|---|
| Annual | $203,031 |
| Annual Per SF | $7.42 |
| Net Operating Income | |
|---|---|
| Annual | $369,899 |
| Annual Per SF | $13.52 |
Property Facts
| Price | $4,900,000 | Building Class | C |
| Price Per Unit | $136,111 | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 27,938 SF |
| Cap Rate | 7.55% | 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 | $4,900,000 |
| Price Per Unit | $136,111 |
| Sale Type | Investment |
| Cap Rate | 7.55% |
| 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 | $1,385 | 767 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1825-05-2-01-024 | Total Assessment | $359,040 |
| Land Assessment | $24,780 | Annual Taxes | $33,770 ($1.21/SF) |
| Improvements Assessment | $334,260 | Tax Year | 2025 |
Property Taxes
Parcel Number
1825-05-2-01-024
Land Assessment
$24,780
Improvements Assessment
$334,260
Total Assessment
$359,040
Annual Taxes
$33,770 ($1.21/SF)
Tax Year
2025
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Grove Gardens | 3076 W 71st Way
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