Address
3851 Otis Street, Wheat Ridge, CO
Price
$ 1,550,000
Property Attributes
- MLS#8421934
- TypeCommercial
- CountyJEFFERSON
- CityWheat Ridge
- Zip80033
- Style
- Year Built1951
- Taxes$ 6469
- Price$ 1,550,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5520
- Lot Size0.32 Acres
Data Source:
REColorado (MTOMLS)
Property Description
Discover a prime investment opportunity with this 7-unit multifamily property in the highly desirable Wheat Ridge neighborhood. This well-maintained complex features two 3-bed, 1-bath units and five comfortable 2-bed, 1-bath units, most of which have been recently updated. Enhancements include a newer roof, vinyl windows, fresh exterior paint, new commercial water heater, and new exterior fencing among other things. The property sits on a large lot offering ample parking, on-site laundry, large storage shed, court yard, sprinkler system, and storage lockers for tenants. Ideally located, it’s a short walk to 38th Ave and minutes from I-70, providing easy access to nearby restaurants, parks, bars, and more. Just 10 minutes from the Highlands, and 5 minutes from both the Tennyson Street District and Olde Town Arvada. Owned by the same dedicated owner for nearly 20 years, this property is a testament to excellent upkeep and care. Don't miss out on this rare gem!
| Price History | |
|---|---|
| 5/26/2024 | Listed $1,550,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Possession | Closing/DOD |
| Roof | Composition |
| Security Features | Carbon Monoxide Detector(s),Smoke Detector(s) |
| Construction Materials | Brick |
| Exclusions | Seller's personal property,items in shed and storage areas that seller decides to keep,Tenant's personal property |
| Year Built | 1951 |
| Tenant Pays | Cable TV,Electricity,Internet,Telephone |
| Property SubType | Multi-Family |
| Tax Year | 2023 |
| Current Use | Multi-Family |
| OwnerPays | Gas,Taxes,Trash Collection,Water |
| County | Jefferson |
| Property Type | Commercial Sale |
| Attached Garage | No |
| Building Features | Bike Storage,Coin Laundry,Laundry,Storage |
| Status | Active |
| Directions | Google Maps |
| City | Wheat Ridge |
| Buyer Agent Compensation | 2.0 |
| NumberOfUnitsTotal | 7 |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 14090 |
| Tax Annual Amount | 6469 |
| Leasable Area | 5520 |
| Standard Status | Active |
| Occupancy Type | Tenant (Multiple) |
| Cap Rate | 5.8 |
| Buyer Agent Compensation Type | % |
Exterior Features
| Lot Features | Irrigated,Landscaped,Near Public Transit,Sprinklers In Front,Sprinklers In Rear |
|---|---|
| Water Source | Public |
| Total Parking | 20 |
| Lot Size Area | 14090 |
| Building Area Total | 5520 |
| Lot Size Acres | 0.32 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 80033
Price
Taxes
Visits
Year Built
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