CBRE is pleased to present 5351-5361 Everett Street, a 22-unit investment opportunity in Arvada, CO. Built in 1961, 5351-5361 Everett Street is a well-maintained asset in a great location only minutes from Olde Town Arvada and with easy access to I-70. The community features a diverse unit mix of studio, one, and two bedroom apartments, with 73% of units having two bedrooms and one bathroom. Partial washer & dryer hookups have also been installed in most units, an incredibly rare amenity in 1960s vintage apartments. Four of these units already have washer and dryer machines installed.
5351-5361 Everett Street is located off Wadsworth and I-70, just minutes from Olde Town Arvada. This location offers residents proximity to an abundance of retail and entertainment options as well as an easy commute to Downtown Denver (125,500 jobs), and other employment hubs. The property also sits in between two RTD
stations, Arvada Ridge Station and Olde Town Arvada Station. This RTD line runs from Golden to Union Station and offers residents convenient access to public transportation.
5351-5361 Everett Street presents investors with an easy value add opportunity capable of providing immense upside. Of the 22 units, 20 have been renovated in the last three years. Four of the two bedroom units have washer dryer hookups with stacked laundry centers. There are partial washer dryer hookups in the majority of the remaining two bedroom units. The next investor can increase revenue and differentiate the property by completing the washer dryer hookups and adding in unit laundry. Current ownership has also completed significant capex, including new stairs, a new boiler, and improvements to the courtyard.