3760 Owens St, Wheat Ridge, CO 80033

Property Description

Fully leased 4-plex in the heart of well established Applewood area of Wheat Ridge, across the street from a charming park and just off Kipling and 38th. This property is ideally positioned south of I70, just minutes from Downtown Denver or Golden. Priced at $830,000, this fully leased value-add opportunity features four 2BR/1BA units, plentiful off street parking in designated lot, and additional income from laundry and utility reimbursements (RUBS). Currently producing a 5.57% cap rate. Could use light renovations but running smoothly as is and any future updates could be handled minimally, during next turns. Local demographics and the central location with proximity to all major thoroughfares provide this property's long term value and rental demand. Surrounding residential area has experienced a major rejuvenation and modern development with high end SFRs. Investors should jump at this rare multifamily opportunity in this highly desirable, growth-oriented corridor.