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Sprucewood Apartments 3305 S Clarkson St 17 Unit Apartment Building $3,043,000 ($179,000/Unit) 5.76% Cap Rate Englewood, CO 80113
INVESTMENT HIGHLIGHTS
- Sellers Financing is Assumable at a 3.75% Principal & Interest (Loan Amount 60%)
- Durable low-maintenance brick exterior, new boiler, and assigned off-street parking
- Individually metered for electricity with all-electric appliances; Hot water heat provided by central boiler, individual wall-unit A/C in each unit
- 17-unit multifamily community built in 1971 with 11,511 SF
- (3) two-bedroom, one-bath units and (14) one-bedroom, one-bath units
- Landlord-owned laundry facility and private storage units
EXECUTIVE SUMMARY
Value-Add Multifamily; 17 Units in Englewood; Assumable Private Financing Available; Seller's Financing is Assumable at a 3.75% Principal & Interest
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$266,310
|
$23.14
|
| Other Income |
$3,910
|
$0.34
|
| Vacancy Loss |
$13,316
|
$1.16
|
| Effective Gross Income |
$256,904
|
$22.32
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$81,756
|
$7.10
|
| Net Operating Income |
$175,148
|
$15.22
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $266,310 |
| Annual Per SF | $23.14 |
| Other Income | |
|---|---|
| Annual | $3,910 |
| Annual Per SF | $0.34 |
| Vacancy Loss | |
|---|---|
| Annual | $13,316 |
| Annual Per SF | $1.16 |
| Effective Gross Income | |
|---|---|
| Annual | $256,904 |
| Annual Per SF | $22.32 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $81,756 |
| Annual Per SF | $7.10 |
| Net Operating Income | |
|---|---|
| Annual | $175,148 |
| Annual Per SF | $15.22 |
PROPERTY FACTS
| Price | $3,043,000 | Building Class | C |
| Price Per Unit | $179,000 | Lot Size | 0.25 AC |
| Sale Type | Investment | Building Size | 11,511 SF |
| Cap Rate | 5.76% | No. Stories | 3 |
| No. Units | 17 | Year Built/Renovated | 1971/2022 |
| Property Type | Multifamily | Parking Ratio | 1.39/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise |
| Price | $3,043,000 |
| Price Per Unit | $179,000 |
| Sale Type | Investment |
| Cap Rate | 5.76% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.25 AC |
| Building Size | 11,511 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1971/2022 |
| Parking Ratio | 1.39/1,000 SF |
| Opportunity Zone |
Yes |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
SITE AMENITIES
- 24 Hour Access
- Smoke Free
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 14 | - | 590 - 680 |
| 2+1 | 3 | - | 870 - 880 |
Walk Score®
Very Walkable (72)
PROPERTY TAXES
| Parcel Number | 1971-34-4-17-026 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $178,555 |
PROPERTY TAXES
Parcel Number
1971-34-4-17-026
Land Assessment
$0
Improvements Assessment
$0
Total Assessment
$178,555
ZONING
| Zoning Code | MU-R-3-C |
| MU-R-3-C |
MAP
ADDITIONAL PHOTOS
1U0A7909
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