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Willow Grove 5851 W 30th Ave 12 Unit Apartment Building $2,650,000 ($220,833/Unit) 6.74% Cap Rate Wheat Ridge, CO 80214
Investment Highlights
- Attractive side by side layouts with front and back doors
- Extensive recent updates including roof, electrical panels, exterior, common area
- Quiet residential pocket surrounded by shopping/dining at 38th, Edgewater Public Market, and Tennyson
- In unit laundry, private patios, and large attached garages
- Renovated kitchens, bathrooms, and floors
- Separately metered gas/electric - tenants pay direct
Executive Summary
Willow Grove Apartments is a 12-unit community located in a quiet residential pocket between Sloan’s Lake and main street Wheat Ridge. Tenants enjoy easy access to shopping and dining in all directions at Edgewater Public Market, 38th, or the Tennyson Corridor. The building is composed of two 1 bedrooms, seven 2 bedrooms, and three 3 bedrooms. The units boast premium features including attractive side by side layouts with front and back doors, in unit laundry, a handful of private yards, and large attached garages.
There have been extensive recent improvements to both interiors and major systems including new roof, electrical panels, exterior, and common area. Additionally, most units have new kitchens, bathrooms, and floors within the last 2 years. Units are separately metered for gas & electric so tenants pay directly. For the right investor, this is an opportunity to buy an updated building in a strong area that will perform in well in the long run.
There have been extensive recent improvements to both interiors and major systems including new roof, electrical panels, exterior, and common area. Additionally, most units have new kitchens, bathrooms, and floors within the last 2 years. Units are separately metered for gas & electric so tenants pay directly. For the right investor, this is an opportunity to buy an updated building in a strong area that will perform in well in the long run.
Property Facts
| Price | $2,650,000 | Apartment Style | Garden |
| Price Per Unit | $220,833 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.04 AC |
| Cap Rate | 6.74% | Building Size | 12,109 SF |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1948 |
| Property Subtype | Apartment | ||
| Zoning | Commercial | ||
| Price | $2,650,000 |
| Price Per Unit | $220,833 |
| Sale Type | Investment |
| Cap Rate | 6.74% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 1.04 AC |
| Building Size | 12,109 SF |
| No. Stories | 1 |
| Year Built | 1948 |
| Zoning | Commercial |
Amenities
Site Amenities
- Courtyard
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 700 |
| 2+1 | 7 | - | 950 |
| 3+1 | 3 | - | 1,200 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 39-254-07-012 | Improvements Assessment | $81,859 |
| Land Assessment | $56,891 | Total Assessment | $138,750 |
Property Taxes
Parcel Number
39-254-07-012
Land Assessment
$56,891
Improvements Assessment
$81,859
Total Assessment
$138,750
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Willow Grove | 5851 W 30th Ave
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