5755 W 37th Ave - Apartments FOR SALE


Wheat Ridge, CO 80212- Lakeside
$1,920,000 USD
303-905-5888
5755 W 37th Ave, Wheat Ridge, CO for Sale
$1,920,000 USD
Apartments - FOR SALE
1/25
null | Request Cap Rate

5755 W 37th Ave
Wheat Ridge, CO 80212
Lakeside


HIGHLIGHTS

  • Immediate rental upside with no need for significant capital investment. Further value-add potential of light interior renovations to enhance appeal
  • No deferred maintenance or CapEx requirements, allowing new ownership to focus on rent stabilization and income growth
  • Thoroughly maintained with substantial exterior and interior improvements, including updated electrical systems, fencing, parking lot, and common area
  • Prime location near West Highlands, Sloan’s Lake, Edgewater, and Tennyson Street, providing strong long-term demand & appreciation potential
  • Large 0.56-acre lot with flexible R-3 zoning offering potential future development opportunities
  • Can be sold as Portfolio with 6915 W 24th Ave, Edgewater & 10527 W 6th Pl, Lakewood

OVERVIEW

The Unique Apartment Group is pleased to present the opportunity to acquire 5755 W 37th Ave in Wheat Ridge, Colorado, also known as The Jefferson Towers. This three-story property consists of twelve (12) spacious units featuring a mix of ten (10) one-bedroom/one-bathroom units and two (2) studios. The 8,568 SqFt building sits on a 24,393 SqFt (0.56-acre) lot. Current ownership has kept the property in excellent condition through consistent investment in upkeep and significant capital improvements over the past decade. Exterior improvements include replaced electrical panels, updated property fencing, a secure main entry keypad, and parking lot crack sealing and restriping. Interior updates include fresh hallway paint and railings, new common area carpet, solid core door replacements, bathroom upgrades, floor replacements in select units, and extensive HVAC maintenance. Located in the heart of Wheat Ridge’s Barth's neighborhood, the property is surrounded by established single-family homes and lies minutes from some of Denver’s most desirable neighborhoods, including West Highlands, Sloan’s Lake, Edgewater, and Berkeley. Residents benefit from close proximity to a wide range of retail, dining, and community amenities along West 38th Avenue, the Wheat Ridge Marketplace, the shops at Tennyson St, and the Edgewater Public Market. All of these factors help support long-term tenant demand and overall value appreciation. The property is currently operated by a Jefferson County non-profit organization. The clear upside for investors lies in transitioning to a traditional multifamily management structure, as rents are currently well below prevailing market rates. With no major deferred maintenance or CapEx needs, new ownership can focus on stabilizing rents and realizing stronger cash flow immediately upon acquisition.

FOR SALE DETAILS

PRICE

$1,920,000 USD

PRICE/SF

$258 USD /SF

# OF UNITS

12

PRICE/UNIT

$160,000

CAP RATE

Request Cap Rate

% LEASED

95%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Tower Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1960

PARKING SPACES

12

LAND DETAILS

LAND ACRES

0.56 AC

LAND SF

24,393 SF

ZONING

R3, Wheat Ridge

APN/PARCEL ID

39-251-00-018

ASK ABOUT THIS PROPERTY

Marc LippittUnique Properties, Inc.More Info
303-905-5888

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Marc LippittUnique Properties, Inc.More Info
303-905-5888

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