Center Apartments | 5269-5297 W Center Ave
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Center Apartments 5269-5297 W Center Ave
14 Unit Apartment Building $3,650,000 ($260,714/Unit) 6.07% Cap Rate Lakewood, CO 80226
Investment Highlights
- All units are completely renovated and feature oversized floorplans with central AC and in-unit laundry
- Tucked away in a quiet residential pocket near a Montessori School and new residential development
- Individually deeded, potential to sell off as condos
- Recent improvements include newer roofs, furnaces, windows, retaining walls, exterior paint, landscaping, parking lot, decks & stairs
- Separately metered gas & electric - tenants pay direct
Executive Summary
Center Apartments is a completely renovated 14 unit apartment community in Lakewood, Colorado. Recent improvements include roofs, furnaces, windows, retaining walls, exterior paint, landscaping, decks, and stairs. The unit mix is entirely oversized 2 bedrooms with large windows, central AC, in unit laundry, and high end finishes that set the units above other nearby housing options. Pride of ownership is clearly apparent in this well maintained and professionally managed community.
The property is tucked away in a quiet residential pocket near a Montessori School and new residential development. Tenants enjoy easy access to Hwy-6, I-70, I-25, & Hwy-85. For this right investor, this is a great opportunity to buy clean, premium units in a growing submarket that will continue to appreciate.
The property is tucked away in a quiet residential pocket near a Montessori School and new residential development. Tenants enjoy easy access to Hwy-6, I-70, I-25, & Hwy-85. For this right investor, this is a great opportunity to buy clean, premium units in a growing submarket that will continue to appreciate.
Property Facts
| Price | $3,650,000 | Apartment Style | Low Rise |
| Price Per Unit | $260,714 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.56 AC |
| Cap Rate | 6.07% | Building Size | 12,900 SF |
| No. Units | 14 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1983/2014 |
| Property Subtype | Apartment | Parking Ratio | 1.71/1,000 SF |
| Price | $3,650,000 |
| Price Per Unit | $260,714 |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.56 AC |
| Building Size | 12,900 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1983/2014 |
| Parking Ratio | 1.71/1,000 SF |
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Washer/Dryer
- Refrigerator
- Stainless Steel Appliances
- Range
- Carpet
- Patio
- Window Coverings
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 14 | - | 900 |
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Bike Score ®
Very Bikeable (73)
zoning
| Zoning Code | PD, Lakewood |
| PD, Lakewood |
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Hunter Schaefer -
Jack Sherman -
NorthPeak Commercial Advisors
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Center Apartments | 5269-5297 W Center Ave
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