1675 Upham St - Apartments FOR SALE


Lakewood, CO 80214- Edgewood
$1,600,000 USD
719-238-9074
1675 Upham St, Lakewood, CO for Sale
$1,600,000 USD
Apartments - FOR SALE
1/15
null | Request Cap Rate

1675 Upham St
Lakewood, CO 80214
Edgewood


HIGHLIGHTS

  • In-place rents remain approximately 10–15% below market; recent 5% rent increase was absorbed with no resistance, indicating runway for further growth
  • Studio, one- and two-bedroom units appeal to a wide renter demographic in a supply-constrained submarket.
  • Located near major arterial intersections (Wads.& Colfax), with excellent walkability and access to retail, transit, and employment corridors
  • RUBS recently introduced, creating immediate and ongoing improvement to operating income
  • Low property taxes ($959/unit annually) provide a cost-efficient entry with further margin support.

OVERVIEW

Cushman & Wakefield is proud to present 1675 Upham Street, a compelling value-add multifamily investment opportunity in the heart of Lakewood, Colorado—a high-demand submarket within the Denver Metro. This 8-unit, two-story brick apartment building, constructed in 1961, is strategically located just off Wadsworth Boulevard and Colfax Avenue, offering both strong tenant demand and long-term upside potential. The unit mix consists of one studio, six 1-bedroom/1-bath units, and one 2-bedroom/1-bath unit, with an average unit size of 610 square feet. Additionally, the ownership has recently implemented utility bill-backs to tenants, enhancing NOI with no operational disruption. Recent capital improvements include a new roof, new boiler, and updated gutters & downspouts—all contributing to stabilized operations and lower near-term capex exposure. With strong physical fundamentals and embedded income growth, 1675 Upham is ideally suited for an investor seeking durable in-place cash flow with a clear path to value creation through unit renovations and operational optimization.

FOR SALE DETAILS

PRICE

$1,600,000 USD

PRICE/SF

$274 USD /SF

# OF UNITS

8

PRICE/UNIT

$200,000

CAP RATE

Request Cap Rate

% LEASED

88%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Upham Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

10

LAND DETAILS

LAND ACRES

0.3 AC

LAND SF

13,068 SF

ZONING

-

APN/PARCEL ID

39-354-00-006

ASK ABOUT THIS PROPERTY

Nic PolaskiCushman & WakefieldMore Info
719-238-9074

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Nic PolaskiCushman & WakefieldMore Info
719-238-9074

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.