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Turnpike Apartments 3950 Turnpike Dr 9 Unit Apartment Building $1,490,000 ($165,556/Unit) 7.14% Cap Rate Westminster, CO 80030
INVESTMENT HIGHLIGHTS
- Recent renovations include new furnaces, roofing, exterior paint, and stairs
- 2:1 Tandem Parking
- Situated in a park-like yard
- Strong mix of units boasting mainly 2-bed, 1-bath units
EXECUTIVE SUMMARY
3950 Turnpike Drive boasts a superior unit mix of mainly 2-bedroom, 1-bathroom units. The property has had many renovations completed within the last couple of years, including all new railings, stringers, stairs and walkways fully permitted through the City of Westminster. The new windows, pitched roof and exterior paint promise a low-maintenance building for the next owner to enjoy. Additionally, the property’s spacious courtyard setting is an amenity for all residents to enjoy. Each unit is individually metered with electric and gas that includes in-unit water heaters as well as gas furnaces that have been replaced in the past few years.
County: Adams
Year Built: 1962
# Buildings: 1
# Stories: 3
Construction: Concrete Brick
Roof Type: Pitched
Gross Building SF: 6,570
Lot Size: 63,598 SF
Parking: 18 Tandem Spaces
Heating: Forced Air
Air Conditioning: Wall
Water/Sewer: Master
Gas/Electric: Individual
County: Adams
Year Built: 1962
# Buildings: 1
# Stories: 3
Construction: Concrete Brick
Roof Type: Pitched
Gross Building SF: 6,570
Lot Size: 63,598 SF
Parking: 18 Tandem Spaces
Heating: Forced Air
Air Conditioning: Wall
Water/Sewer: Master
Gas/Electric: Individual
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $1,490,000 | Apartment Style | Low-Rise |
| Price Per Unit | $165,556 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.46 AC |
| Cap Rate | 7.14% | Building Size | 6,570 SF |
| No. Units | 9 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.98/1,000 SF |
| Zoning | R-1 | ||
| Price | $1,490,000 |
| Price Per Unit | $165,556 |
| Sale Type | Investment |
| Cap Rate | 7.14% |
| No. Units | 9 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.46 AC |
| Building Size | 6,570 SF |
| No. Stories | 3 |
| Year Built | 1962 |
| Parking Ratio | 1.98/1,000 SF |
| Zoning | R-1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 1 | - | 650 |
| 2+1 | 8 | - | 725 |
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PROPERTY TAXES
| Parcel Number | 1719-31-1-04-003 | Total Assessment | $83,810 |
| Land Assessment | $7,360 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $76,450 | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1719-31-1-04-003
Land Assessment
$7,360
Improvements Assessment
$76,450
Total Assessment
$83,810
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
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Turnpike Apartments | 3950 Turnpike Dr
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