1951 Upham St - Apartments FOR SALE


Lakewood, CO 80214- Edgewood
$1,350,000 USD
303-903-9638
1951 Upham St, Lakewood, CO for Sale
$1,350,000 USD
Apartments - FOR SALE
1/13
null | 7.07% Cap Rate

1951 Upham St
Lakewood, CO 80214
Edgewood


HIGHLIGHTS

  • Pride of ownership – well maintained property
  • 0% historical vacancy in over 36 months!
  • Loan assumption with 4.1% interest through 2031 available
  • Recent updates to interiors, roof (2024), parking lot (2025), windows, boiler, laundry, sprinkler system, fence, and exterior stairs
  • All 2- and 3-bedroom units
  • Potential 10% cash on cash return for an owner manager

OVERVIEW

1951 Upham St. is a 7-unit apartment community built in 1961 with recent updates to interiors, roof, parking lot, sprinkler system, fence, and exterior stairs. The building is composed of all 2 and 3 bedrooms units. Pride of ownership is clearly apparent in this well maintained property. Tenant retention has been strong and there is potential rent upside as evidenced in 0% historical vacancy over the last 3 years. The property is in a growth location roughly 1 mile from the Wadsworth Light Rail Station. A strong draw to this deal is the assumable loan option with a 4.1% interest rate fixed through 2031. With this path, there is potential for 10% cash on cash return for an owner manager. This is a rare opportunity to buy a well-maintained property that will continue to improve over time.

FOR SALE DETAILS

PRICE

$1,350,000 USD

PRICE/SF

$248 USD /SF

# OF UNITS

7

PRICE/UNIT

$192,857

CAP RATE

7.07%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1951 Upham

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

7

LAND DETAILS

LAND ACRES

0.31 AC

LAND SF

13,700 SF

ZONING

MRU

APN/PARCEL ID

39-354-03-003

ASK ABOUT THIS PROPERTY

Jack ShermanNorthPeak Commercial AdvisorsMore Info
303-903-9638

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

Jack ShermanNorthPeak Commercial AdvisorsMore Info
303-903-9638

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