$875,000
$899,000
2.7%For more information regarding the value of a property, please contact us for a free consultation.
12778 W 31st AVE Wheat Ridge, CO 80215
8 Beds
4 Baths
3,584 SqFt
Key Details
Sold Price $875,000
Property Type Multi-Family
Sub Type Quadplex
Listing Status Sold
Purchase Type For Sale
Square Footage 3,584 sqft
Price per Sqft $244
Subdivision Maple Grove
MLS Listing ID 2168665
Sold Date 07/31/24
Style Contemporary
Bedrooms 8
HOA Y/N No
Abv Grd Liv Area 1,884
Originating Board recolorado
Year Built 1962
Annual Tax Amount $5,013
Tax Year 2023
Lot Size 0.310 Acres
Acres 0.31
Property Description
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.
Location
State CO
County Jefferson
Rooms
Basement Finished
Interior
Interior Features Ceiling Fan(s), Eat-in Kitchen, High Speed Internet
Heating Forced Air
Cooling None
Flooring Carpet, Laminate, Tile, Vinyl, Wood
Fireplace N
Appliance Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator
Exterior
Exterior Feature Private Yard
Garage Concrete, Driveway-Dirt, Driveway-Gravel
Garage Spaces 1.0
Fence Full
Utilities Available Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected
Roof Type Composition
Total Parking Spaces 8
Garage Yes
Building
Lot Description Corner Lot, Level, Near Public Transit
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Brick
Schools
Elementary Schools Kullerstrand
Middle Schools Everitt
High Schools Wheat Ridge
School District Jefferson County R-1
Others
Senior Community No
Ownership Corporation/Trust
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
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