5351-5361 Everett St - Apartments FOR SALE


Arvada, CO 80002- Arvada Plaza Area
$4,200,000 USD
303-583-2079
5351-5361 Everett St, Arvada, CO for Sale
$4,200,000 USD
Apartments - FOR SALE
1/46
null | Request Cap Rate

5351-5361 Everett St
Arvada, CO 80002
Arvada Plaza Area


HIGHLIGHTS

  • In-Unit Laundry in 4 Units (Partial Hookups in Most Two Bedroom Units)
  • Significant CapEx Complete
  • Accessibility to Numerous Dining and Entertainment Options
  • 73% Rental Discount to Homeownership
  • Adjacent to Two Light Rail Stations
  • 521,000+ Jobs Within 20-Minute Drive

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$4,200,000 USD

PRICE/SF

$255 USD /SF

# OF UNITS

22

PRICE/UNIT

$190,909

CAP RATE

Request Cap Rate

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Woodman Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

30

LAND DETAILS

LAND ACRES

0.76 AC

LAND SF

33,106 SF

ZONING

PUD-BPR, Arvada

APN/PARCEL ID

39-151-17-002

ASK ABOUT THIS PROPERTY

303-583-2079

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303-583-2079

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