Wheat Ridge, CO 80215,12778 W 31st Ave
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Wheat Ridge, CO 80215,12778 W 31st Ave
Wheat Ridge, CO 80215,12778 W 31st Ave
Wheat Ridge, CO 80215,12778 W 31st Ave
Wheat Ridge, CO 80215,12778 W 31st Ave

$875,000

Est. payment /mo

$899,000

2.7%
Est.Price: ?

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12778 W 31st Ave Wheat Ridge, CO 80215

8 Beds

4 Baths

3,584 SqFt

SOLD DATE : 07/31/2024

Key Details

Sold Price $875,000

Property Type Single Family Home

Sub Type Income Property

Listing Status Sold

Purchase Type For Sale

Square Footage 3,584 sqft

Subdivision Maple Grove

MLS Listing ID 2168665

Sold Date 07/31/24

Style Contemporary/Modern,Ranch

Bedrooms 8

HOA Y/N false

Abv Grd Liv Area 3,584

Originating Board REcolorado

Year Built 1962

Annual Tax Amount $5,013

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

Area Metro Denver

Direction Use GPS

Interior

Interior Features Eat-in Kitchen

Heating Forced Air

Cooling Ceiling Fan(s)

Appliance Dishwasher, Refrigerator, Disposal

Exterior

Garage Spaces 1.0

Fence Fenced

Utilities Available Electricity Available, Cable Available

Roof Type Composition

Street Surface Dirt,Gravel

Handicap Access Level Lot

Building

Lot Description Corner Lot, Level

Story 1

Sewer City Sewer, Public Sewer

Water City Water

Level or Stories One

Structure Type Brick/Brick Veneer

New Construction false

Schools

Elementary Schools Kullerstrand

Middle Schools Everitt

High Schools Wheat Ridge

School District Jefferson County R-1

Others

Senior Community false

SqFt Source Assessor

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Information and Real Estate Services (IRES)
Listed by HomeSmart • [email protected]
Bought with JPAR - Platinum

Rick Cavallaro

Broker/Founder | License ID: ER.040020925

+1(303) 641-1632

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