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Wadsworth Station West Apartments 1260-1270 Balsam St 24 Unit Apartment Building $4,000,000 ($166,667/Unit) 6.52% Cap Rate Lakewood, CO 80214
INVESTMENT HIGHLIGHTS
- Turn-Key Asset with Newer: Floors, Kitchens, Bathrooms, Electric Panels, Roofs, Parking Lots, Sewer Line and Backflows
- Just ½ Mile from Wadsworth Light Rail Station
- Easy Access to US Highway 6, Downtown Denver and Mountains
- Attractive Landscaping with Community Space Including Bocce Ball Court, BBQ and Lounge Area
- (3) Adjacent 8-Unit Apartment Buildings on Large Lot
- Can be Purchased with Heights at Sunset Park (12 Units - 1088 Miller Street & 1089 Lee Street, Lakewood, CO)
EXECUTIVE SUMMARY
JUST LISTED! Well-Maintained 24-Unit Property in Lakewood, CO; Close to Light Rail
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$374,400
|
$21.42
|
| Other Income |
$40,122
|
$2.30
|
| Vacancy Loss |
$20,726
|
$1.19
|
| Effective Gross Income |
$393,796
|
$22.53
|
| Taxes |
$22,420
|
$1.28
|
| Operating Expenses |
$110,651
|
$6.33
|
| Total Expenses |
$133,071
|
$7.61
|
| Net Operating Income |
$260,725
|
$14.92
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $374,400 |
| Annual Per SF | $21.42 |
| Other Income | |
|---|---|
| Annual | $40,122 |
| Annual Per SF | $2.30 |
| Vacancy Loss | |
|---|---|
| Annual | $20,726 |
| Annual Per SF | $1.19 |
| Effective Gross Income | |
|---|---|
| Annual | $393,796 |
| Annual Per SF | $22.53 |
| Taxes | |
|---|---|
| Annual | $22,420 |
| Annual Per SF | $1.28 |
| Operating Expenses | |
|---|---|
| Annual | $110,651 |
| Annual Per SF | $6.33 |
| Total Expenses | |
|---|---|
| Annual | $133,071 |
| Annual Per SF | $7.61 |
| Net Operating Income | |
|---|---|
| Annual | $260,725 |
| Annual Per SF | $14.92 |
PROPERTY FACTS
| Price | $4,000,000 | Building Class | C |
| Price Per Unit | $166,667 | Lot Size | 0.93 AC |
| Sale Type | Investment | Building Size | 17,476 SF |
| Cap Rate | 6.52% | Average Occupancy | 100% |
| No. Units | 24 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 1.89/1,000 SF |
| Apartment Style | Low-Rise | Cross Streets | W 13th Avenue |
| Zoning | R-4, Lakewood | ||
| Price | $4,000,000 |
| Price Per Unit | $166,667 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.93 AC |
| Building Size | 17,476 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.89/1,000 SF |
| Cross Streets | W 13th Avenue |
| Zoning | R-4, Lakewood |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Heating
- Refrigerator
- Tub/Shower
- Lawn
SITE AMENITIES
- 24 Hour Access
- Controlled Access
- Recycling
- Trash Pickup - Curbside
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 24 | $1,270 | 650 |
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Numbers | 49-022-18-011, 49-022-18-010 | Total Assessment | $247,337 (2024) |
| Land Assessment | $53,466 (2024) | Annual Taxes | $22,420 ($1.28/SF) |
| Improvements Assessment | $193,871 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$53,466 (2024)
Improvements Assessment
$193,871 (2024)
Total Assessment
$247,337 (2024)
Annual Taxes
$22,420 ($1.28/SF)
Tax Year
2025
MAP
ADDITIONAL PHOTOS
Drone_5_Building3
Photo Apr 07 2025, 12 40 40 PM (13)
Drone_3_1270Building
Photo Apr 07 2025, 12 40 40 PM (3)
Building Photo
8170 W 13th Avenue Lakewood CO-small-026-025-ExteriorEdit-666x445-72dpi
8170 W 13th Avenue Lakewood CO-small-028-021-CourtyardEdit-666x445-72dpi
8170 W 13th Avenue Lakewood CO-small-002-002-Living Room-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-006-008-Kitchen-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-010-013-Bedroom-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-011-009-Bathroom-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-014-011-Bathroom-666x444-72dpi
Photo Apr 07 2025, 12 40 40 PM (14)
8170 W 13th Avenue Lakewood CO-small-016-016-ExteriorEdit-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-018-017-ExteriorEdit-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-019-022-ExteriorEdit-666x444-72dpi
8170 W 13th Avenue Lakewood CO-small-027-024-CourtyardEdit-666x445-72dpi
Building Photo