Westminster Court Apartments | 7250-7270 Newton St
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Westminster Court Apartments 7250-7270 Newton St
33 Unit Apartment Building $6,500,000 ($196,970/Unit) 6.59% Cap Rate Westminster, CO 80030
Investment Highlights
- Excellent Curb Appeal and Location along Art District
- Newer Roof, Gutters, Classic Style Units
- Solid Brick Construction, Outside Walkup
Executive Summary
Other income includes bill back for utilities, m-m fees, pet fees and rent, laundry income (Wash lease), and newly implemented parking fees.
Opportunity to purchase a well-maintained 33-unit garden style apartment community in Westminster, Colorado. Conveniently located near major highways and just a 10-minute drive from Downtown Denver. The property consists of three exterior access apartment buildings with a courtyard setting. It offers a mix of two-bedroom and one-bedroom homes, featuring solid brick construction, newer roofs, and separate utility meters. Amenities include off-street parking, common laundry areas, storage spaces, and air conditioning in top-floor units. The property boasts a large lot with beautiful views of the Rocky Mountain Front Range. Don't miss this exceptional investment opportunity.
Opportunity to purchase a well-maintained 33-unit garden style apartment community in Westminster, Colorado. Conveniently located near major highways and just a 10-minute drive from Downtown Denver. The property consists of three exterior access apartment buildings with a courtyard setting. It offers a mix of two-bedroom and one-bedroom homes, featuring solid brick construction, newer roofs, and separate utility meters. Amenities include off-street parking, common laundry areas, storage spaces, and air conditioning in top-floor units. The property boasts a large lot with beautiful views of the Rocky Mountain Front Range. Don't miss this exceptional investment opportunity.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $6,500,000 | Building Class | C |
| Price Per Unit | $196,970 | Lot Size | 1.74 AC |
| Sale Type | Investment | Building Size | 23,400 SF |
| Cap Rate | 6.59% | Average Occupancy | 100% |
| Gross Rent Multiplier | 10 | No. Stories | 2 |
| No. Units | 33 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 0.88/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | $6,500,000 |
| Price Per Unit | $196,970 |
| Sale Type | Investment |
| Cap Rate | 6.59% |
| Gross Rent Multiplier | 10 |
| No. Units | 33 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.74 AC |
| Building Size | 23,400 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 0.88/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Air Conditioning
- Balcony
- Cable Ready
- Storage Space
- Heating
- Eat-in Kitchen
- Granite Countertops
- High Speed Internet Access
- Yard
- Lawn
Site Amenities
- Courtyard
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 15 | $1,300 | 600 |
| 2+1 | 18 | $1,550 | 750 |
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Walk Score ®
Very Walkable (71)
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $435,120 (2023) | |
| Land Assessment | $17,430 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $417,690 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$17,430 (2023)
Improvements Assessment
$417,690 (2023)
Total Assessment
$435,120 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
| Zoning Code | R-4, Westminster (Located in Opportunity Zone) |
| R-4, Westminster (Located in Opportunity Zone) |
-
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Westminster Court Apartments | 7250-7270 Newton St
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