Marshall Manor Apartments 6499 W 38th Ave 14 Unit Apartment Building $3,100,000 ($221,429/Unit) 5.72% Cap Rate Wheat Ridge, CO 80033
INVESTMENT HIGHLIGHTS
- All electrical panels replaced; Newer windows
- Unique unit layouts with large, walk-in closets in every unit
- Seller carry option available
- 75% of the units have been updated (flooring, kitchens, bathrooms)
- Covered parking
- Assumable financing available
EXECUTIVE SUMMARY
The Knowlton Lawson Team is pleased to offer the exclusive opportunity to acquire the Marshall Manor Apartments, a 14-unit complex featuring 6 one-bedroom, one-bath units and 8 two-bedroom, one-bath units. Seventy-five percent of the units have been recently updated with new flooring, modernized kitchens, and renovated bathrooms. Additional property upgrades include new windows and electrical panels. Residents benefit from convenient access to nearby grocery stores such as Safeway, King Soopers, Sprouts, and Walmart, all within a mile of the property. With easy access to I-70, tenants enjoy quick commutes to Downtown Denver or can easily head to the mountains for a weekend retreat. These improvements, combined with the property’s prime location, make Marshall Manor Apartments an attractive option for long-term tenants, ensuring strong tenant
retention and potential for increased rental rates. • Seller carry option available • Assumable financing available
retention and potential for increased rental rates. • Seller carry option available • Assumable financing available
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$262,800
|
$17.68
|
| Other Income |
$21,630
|
$1.45
|
| Vacancy Loss |
$13,140
|
$0.88
|
| Effective Gross Income |
$271,290
|
$18.25
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$79,243
|
$5.33
|
| Net Operating Income |
$192,047
|
$12.92
|
PROPERTY FACTS
| Price | $3,100,000 |
| Price Per Unit | $221,429 |
| Sale Type | Investment |
| Cap Rate | 5.72% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.51 AC |
| Building Size | 14,866 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1957 |
| Parking Ratio | 0.94/1,000 SF |
UNIT AMENITIES
- Air Conditioning
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | 725 |
| 2+1 | 8 | - | 900 |
1 of 1
Walk Score®
Very Walkable (83)
Bike Score®
Very Bikeable (71)
PROPERTY TAXES
| Parcel Number | 39-243-00-045 | Improvements Assessment | $92,591 (2024) |
| Land Assessment | $30,016 (2024) | Total Assessment | $122,607 (2024) |
ZONING
| Zoning Code | R-3 |
