454 Arapahoe Ave
Boulder, CO 80302
Multifamily Property For Sale · 3 Units

Built in 1972, 454 Arapahoe Avenue is a three-unit apartment building with 12 total bedrooms well-located in Boulder, Colorado. The property sits on a 0.28-acre lot along Arapahoe Avenue with close proximity to the Pearl Street Mall, downtown Boulder and the University of Colorado campus. The triplex consists of a single three-story concrete and stucco building with three four-bedroom/one-and-one-half bath units (1,131 square feet), for a total of 3,393 rentable square feet. Each unit has a wooden balcony or concrete patio off of the living room and a wood-burning fireplace. There is exterior access to the building and a fenced perimeter around the tree-shaded lot. Nine off-street parking spots are available to the tenants. All units have dishwashers and garbage disposals. Common areas have hard surface flooring and the bedrooms are carpeted. Each unit has its own furnace and hot water heater and is individually metered for gas and electric, paid by the residents. The water and sewer is master metered, paid by the owner, reimbursed by the residents. An on-site laundry to the rear of the property is an added amenity to the tenants and provides additional income to the owner. Tenants enjoy mountain views in a quiet residential area but also benefit from convenient access to restaurants, recreation, shopping, employment, public transportation and the University of Colorado campus. Property is currently Smart Regs compliant. There is additional upside by increasing rent through renovating the units and adding two additional bathrooms per unit. Seller has initiated renovation approval process with the city. Plans associated with this addition will be conveyed at Closing.