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12778 W 31st Ave Wheat Ridge, CO 80215
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Key Details
Sold Price $875,000
Property Type Single Family Home
Sub Type Income Property
Listing Status Sold
Purchase Type For Sale
Square Footage 3,584 sqft
Subdivision Maple Grove
MLS Listing ID 2168665
Sold Date 07/31/24
Style Contemporary/Modern,Ranch
Bedrooms 8
HOA Y/N false
Abv Grd Liv Area 3,584
Originating Board REcolorado
Year Built 1962
Annual Tax Amount $5,013
Lot Size 0.310 Acres
Acres 0.31
Property Description
This is an excellent opportunity to own a brick 4-unit multifamily money-making machine. This property has a solid rental history earning over $7,000 a month in gross rents. THE PRICE HAS BEEN REDUCED AND IS PRICED TO SELL. All major items like electrical pan-els, water heaters, plumbing fixtures, kitchen cabinetry and countertops have been re-placed during the span of ownership and the roof is estimated to have been replaced less than 10 years ago and is in good condition. Typical maintenance has been done, but just like any property of this age there are other items that may need attention. However, at this NEW PRICE and with the exceptional rental income it simply makes financial sense with a cap rate of over 7%. The property is located in the desirable Wheat Ridge area of town and its location leads to easy access to I-70 and all its connections east and west. Quick ac-cess to Denver, Downtown, and the mountains and close to transportation, groceries, eat-eries, banking and shopping centers. The dwellings are completely occupied, and the ten-ants are very happy. Each unit has a fenced yard, granite counters, and the 2 lower units have new cabinets. One upper-level unit has refinished cabinets. Tenants pay for the gas, electric & trash. There is off-street parking for all 4 units. 12780 has had the same tenant for 10 years & control of the attached garage and storage area. Whether you are a savvy investor seeking immediate returns or just beginning your quest for a real estate portfolio, this one is worth serious consideration. Showings require a 24-hour notice so set that showing now. Important to note: 3 out of the 4 leases are coming up for renewal starting in September so there is an opportunity to raise rents, remodel, or move into one of the units. As mentioned, this one is worth serious consideration and ENCOURAGE YOU COME SEE IT BEFORE ITS GONE, AS ALL OFFERS WILL BE CONSIDERED.
Location
State CO
County Jefferson
Area Metro Denver
Direction Use GPS
Interior
Interior Features Eat-in Kitchen
Heating Forced Air
Cooling Ceiling Fan(s)
Appliance Dishwasher, Refrigerator, Disposal
Exterior
Garage Spaces 1.0
Fence Fenced
Utilities Available Electricity Available, Cable Available
Waterfront false
Roof Type Composition
Street Surface Dirt,Gravel
Handicap Access Level Lot
Building
Lot Description Corner Lot, Level
Story 1
Sewer City Sewer, Public Sewer
Water City Water
Level or Stories One
Structure Type Brick/Brick Veneer
New Construction false
Schools
Elementary Schools Kullerstrand
Middle Schools Everitt
High Schools Wheat Ridge
School District Jefferson County R-1
Others
Senior Community false
SqFt Source Assessor
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Bought with JPAR - Platinum