950 Allison St
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950 Allison St
6 Unit Apartment Building $1,400,000 ($233,333/Unit) 5.49% Cap Rate Lakewood, CO 80214
Investment Highlights
- 4 of the 6 units have private garages
- In-unit laundry hook-ups
- Hardwood floors
- 4 blocks from Wadsworth FasTracks Station
- Private yards for each tenant
Executive Summary
950 Allison St., situated in Lakewood, offers a well-rounded unit mix, featuring four two-bedroom units, each with its own garage, and two three-bedroom up-and-down units. Every unit is equipped with in-unit laundry hook-ups and both front and back door entries, with private backyards for each. The property is separately metered for gas and electricity, which tenants pay directly to the utility companies. The units highlight hardwood floors and efficient layouts.
Although the property has been meticulously maintained with no deferred maintenance, there is ample opportunity for interior upgrades that could yield higher rental income. Tenants benefit from a peaceful, country-like atmosphere while enjoying the convenience of a nearby light rail station and easy access to Highway 6. This property presents an excellent opportunity for investors to acquire a quality asset with strong potential for continued performance and growth.
Although the property has been meticulously maintained with no deferred maintenance, there is ample opportunity for interior upgrades that could yield higher rental income. Tenants benefit from a peaceful, country-like atmosphere while enjoying the convenience of a nearby light rail station and easy access to Highway 6. This property presents an excellent opportunity for investors to acquire a quality asset with strong potential for continued performance and growth.
Property Facts
| Price | $1,400,000 | Apartment Style | Low Rise |
| Price Per Unit | $233,333 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.72 AC |
| Cap Rate | 5.49% | Building Size | 6,960 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1950 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Price | $1,400,000 |
| Price Per Unit | $233,333 |
| Sale Type | Investment |
| Cap Rate | 5.49% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.72 AC |
| Building Size | 6,960 SF |
| No. Stories | 1 |
| Year Built | 1950 |
| Parking Ratio | 0.57/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 4 | - | 700 |
| 3+1 | 2 | - | 1,338 |
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PROPERTY TAXES
| Parcel Number | 49-023-00-012 | Improvements Assessment | $30,845 |
| Land Assessment | $42,026 | Total Assessment | $72,871 |
PROPERTY TAXES
Parcel Number
49-023-00-012
Land Assessment
$42,026
Improvements Assessment
$30,845
Total Assessment
$72,871
zoning
| Zoning Code | M-R-U |
| M-R-U |
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950 Allison St
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