3605 Pierce St
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3605 Pierce St
10 Unit Apartment Building $1,995,000 ($199,500/Unit) 5.24% Cap Rate Wheat Ridge, CO 80033
Investment Highlights
- Great Wheat Ridge location
- 8 of the 10 units have been renovated
- Large corner lot
- Laundry on-site
Executive Summary
3605 Pierce Street in Wheat Ridge is a 10-unit property consisting of 4 one-bedroom units and 6 two-bedroom units. Eight of the 10 units have been recently renovated. Currently, the property is renting below market rates given the quality of the units.
The location is highly desirable, situated near the heart of the walkable Wheat Ridge area, where tenants can enjoy easy access to local amenities while being surrounded by single-family homes, giving the property a strong neighborhood feel.
Most units feature both front and back entries, offering a more private, homelike atmosphere compared to typical apartment layouts. This is an excellent opportunity to acquire a well-maintained asset in a prime location.
The location is highly desirable, situated near the heart of the walkable Wheat Ridge area, where tenants can enjoy easy access to local amenities while being surrounded by single-family homes, giving the property a strong neighborhood feel.
Most units feature both front and back entries, offering a more private, homelike atmosphere compared to typical apartment layouts. This is an excellent opportunity to acquire a well-maintained asset in a prime location.
Property Facts
| Price | $1,995,000 | Apartment Style | Low Rise |
| Price Per Unit | $199,500 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.53 AC |
| Cap Rate | 5.24% | Building Size | 8,609 SF |
| No. Units | 10 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.7/1,000 SF |
| Price | $1,995,000 |
| Price Per Unit | $199,500 |
| Sale Type | Investment |
| Cap Rate | 5.24% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.53 AC |
| Building Size | 8,609 SF |
| No. Stories | 1 |
| Year Built | 1961 |
| Parking Ratio | 1.7/1,000 SF |
Unit Amenities
- Storage Space
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 638 |
| 2+1 | 6 | - | 808 |
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Walk Score®
Very Walkable (81)
Bike Score®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 39-261-00-086 | Improvements Assessment | $79,292 |
| Land Assessment | $31,111 | Total Assessment | $110,403 |
PROPERTY TAXES
Parcel Number
39-261-00-086
Land Assessment
$31,111
Improvements Assessment
$79,292
Total Assessment
$110,403
zoning
| Zoning Code | R-3, Wheat Ridge |
| R-3, Wheat Ridge |
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3605 Pierce St
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