About 12778 W 31st Avenue
This is an excellent opportunity to own a brick 4-unit multifamily money-making machine. This property has a solid rental history earning over $7,000 a month in gross rents. THE PRICE HAS BEEN REDUCED AND IS PRICED TO SELL. All major items like electrical pan-els, water heaters, plumbing fixtures, kitchen cabinetry and countertops have been re-placed during the span of ownership and the roof is estimated to have been replaced less than 10 years ago and is in good condition. Typical maintenance has been done, but just like any property of this age there are other items that may need attention. However, at this NEW PRICE and with the exceptional rental income it simply makes financial sense with a cap rate of over 7%. The property is located in the desirable Wheat Ridge area of town and its location leads to easy access to I-70 and all its connections east and west. Quick ac-cess to Denver, Downtown, and the mountains and close to transportation, groceries, eat-eries, banking and shopping centers. The dwellings are completely occupied, and the ten-ants are very happy. Each unit has a fenced yard, granite counters, and the 2 lower units have new cabinets. One upper-level unit has refinished cabinets. Tenants pay for the gas, electric & trash. There is off-street parking for all 4 units. 12780 has had the same tenant for 10 years & control of the attached garage and storage area. Whether you are a savvy investor seeking immediate returns or just beginning your quest for a real estate portfolio, this one is worth serious consideration. Showings require a 24-hour notice so set that showing now. Important to note: 3 out of the 4 leases are coming up for renewal starting in September so there is an opportunity to raise rents, remodel, or move into one of the units. As mentioned, this one is worth serious consideration and ENCOURAGE YOU COME SEE IT BEFORE ITS GONE, AS ALL OFFERS WILL BE CONSIDERED.
Features of 12778 W 31st Avenue
MLS® # | 2168665 |
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Price | $899,000 |
Bedrooms | 8 |
Bathrooms | 4.00 |
Square Footage | 3,584 |
Acres | 0.31 |
Year Built | 1962 |
Type | Residential Income |
Sub-Type | Quadplex |
Style | Contemporary |
Status | Pending |
Community Information
Address | 12778 W 31st Avenue |
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Subdivision | Maple Grove |
City | Wheat Ridge |
County | Jefferson |
State | CO |
Zip Code | 80215 |
Amenities
Utilities | Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected |
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Parking Spaces | 8 |
Parking | Concrete, Driveway-Dirt, Driveway-Gravel |
# of Garages | 1 |
Is Waterfront | No |
Has Pool | No |
Interior
Interior Features | Ceiling Fan(s), Eat-in Kitchen, High Speed Internet |
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Appliances | Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator |
Heating | Forced Air |
Cooling | None |
Fireplace | No |
Stories | One |
Basement | Finished |
Exterior
Exterior Features | Private Yard |
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Lot Description | Corner Lot, Level, Near Public Transit |
Roof | Composition |
Fencing | Full |
School Information
District | Jefferson County R-1 |
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Elementary | Kullerstrand |
Middle | Everitt |
High | Wheat Ridge |
Additional Information
Date Listed | March 17th, 2024 |
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Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Office | HomeSmart |
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Contact | ed@finddenverhomes.com |