Description
63 South 22nd Avenue is located off Highway 7, providing convenient access for commuting to Denver and the metro suburbs, Denver International Airport, or local opportunities. The complex offers convenient access (< 3 miles) to local attractions and amenities including Barr Lake State Park, Fox Meadow Trail, Observatory Park, Oasis Family Aquatic Park, Prairie Center Shopping Center, King Soopers, Walmart Supercenter, Platteville Medical Center, Eagle Ridge Academy, Pennock Elementary, and much more. The asset offers two garden style apartment complexes, totaling 16 units. This value-add property lends a primary mix of 2 bedroom, 1 bathroom floorplans while also providing two single bedroom options. Each unit has independently metered gas, electric, forced air furnace, and gas water heater. The property is currently under-rented and needing cosmetic improvements to increase occupancy. With proper management, the property provides upside potential for a 7% cap rate. With brand new roofing, new exterior paint, rooftop A/C units for the second floors, mix of newer water heaters and furnaces throughout, this property has much to offer a new owner. Please see OM for all details.
-
3BEDS
-
0.89ACRES
-
0BATHS
-
01/2 BATHS
-
14,608SQFT
-
$185$/SQFT
School Information
Description
63 South 22nd Avenue is located off Highway 7, providing convenient access for commuting to Denver and the metro suburbs, Denver International Airport, or local opportunities. The complex offers convenient access (< 3 miles) to local attractions and amenities including Barr Lake State Park, Fox Meadow Trail, Observatory Park, Oasis Family Aquatic Park, Prairie Center Shopping Center, King Soopers, Walmart Supercenter, Platteville Medical Center, Eagle Ridge Academy, Pennock Elementary, and much more. The asset offers two garden style apartment complexes, totaling 16 units. This value-add property lends a primary mix of 2 bedroom, 1 bathroom floorplans while also providing two single bedroom options. Each unit has independently metered gas, electric, forced air furnace, and gas water heater. The property is currently under-rented and needing cosmetic improvements to increase occupancy. With proper management, the property provides upside potential for a 7% cap rate. With brand new roofing, new exterior paint, rooftop A/C units for the second floors, mix of newer water heaters and furnaces throughout, this property has much to offer a new owner. Please see OM for all details.
© 2023 Information and Real Estate Services, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or SW Team | RE/MAX Alliance. Data last updated: 2023-02-08T14:41:56.35.
Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.