1045 Balsam St
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1045 Balsam St
11 Unit Apartment Building $2,300,000 ($209,091/Unit) 6% Cap Rate Lakewood, CO 80214
Investment Highlights
- Above average unit sizes with 2 bathrooms in 2bedroom units
- Private balconies for each unit (some units with 2 balconies)
- Multiple laundry rooms on-site
- Already achieving pro forma rents
- Separate metered electric
- Newer roof
Executive Summary
1045 Balsam St is an 11 unit property built in 1960. The building has a great unit mix of (1) studio, (4) 1bed/1bath, and (6) unique 2bed/2bath units. The 2bathrooms make these units great for roommate scenarios where each roommate will have a private bathroom. Tenant's enjoy private balconies (some units with multiple balconies), ample parking, and being only a few blocks away from the W line light rail.
This is a perfect opportunity for an investor to come in, continue renovating units, and increase rents to improve their cashflow and add value to the property.
This is a perfect opportunity for an investor to come in, continue renovating units, and increase rents to improve their cashflow and add value to the property.
Property Facts
| Price | $2,300,000 | Building Class | C |
| Price Per Unit | $209,091 | Lot Size | 0.46 AC |
| Sale Type | Investment | Building Size | 8,590 SF |
| Cap Rate | 6% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1960 |
| Property Subtype | Apartment | Parking Ratio | 2.44/1,000 SF |
| Apartment Style | Low Rise |
| Price | $2,300,000 |
| Price Per Unit | $209,091 |
| Sale Type | Investment |
| Cap Rate | 6% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.46 AC |
| Building Size | 8,590 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1960 |
| Parking Ratio | 2.44/1,000 SF |
Unit Amenities
- Balcony
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 1 | - | - |
| 1+1 | 4 | - | - |
| 2+2 | 6 | - | - |
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Bike Score ®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 49-022-23-015 | Improvements Assessment | $68,812 |
| Land Assessment | $26,733 | Total Assessment | $95,545 |
PROPERTY TAXES
Parcel Number
49-022-23-015
Land Assessment
$26,733
Improvements Assessment
$68,812
Total Assessment
$95,545
zoning
| Zoning Code | R-4, Lakewood |
| R-4, Lakewood |
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Jack Sherman -
Hunter Schaefer -
NorthPeak Commercial Advisors
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1045 Balsam St
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