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HomeTowne Studios Denver Lakewood West 715 Kipling St 147 Room Hotel Lakewood, CO 80215 $11,500,000 ($78,231/Room) 3.13% Cap Rate
INVESTMENT HIGHLIGHTS
- Excellent Conversion Opportunity to Multifamily
- Recent Capital Improvements Include Newer Boiler & Roof
- Good Mix of Studios, 1Bd/1Ba & 2Bd/1Ba Units
- Located in an Opportunity Zone
- Priced Below Comparable Properties & Replacement Cost
- Walk to Public Transportation, Restaurants, Retail and Places of Employment
EXECUTIVE SUMMARY
Property currently operated as an Extended Stay with excellent potential to be converted to multifamily. The City of Lakewood has expressed support of the conversion idea and the asset is located in a strong rental market. Reach out to broker for more details.
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$3,595,615
|
$44.88
|
| Other Income |
$110,264
|
$1.38
|
| Vacancy Loss |
$1,838,921
|
$22.95
|
| Effective Gross Income |
$1,866,958
|
$23.30
|
| Taxes |
$104,729
|
$1.31
|
| Operating Expenses |
$1,401,827
|
$17.50
|
| Total Expenses |
$1,506,556
|
$18.80
|
| Net Operating Income |
$360,402
|
$4.50
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $3,595,615 |
| Annual Per SF | $44.88 |
| Other Income | |
|---|---|
| Annual | $110,264 |
| Annual Per SF | $1.38 |
| Vacancy Loss | |
|---|---|
| Annual | $1,838,921 |
| Annual Per SF | $22.95 |
| Effective Gross Income | |
|---|---|
| Annual | $1,866,958 |
| Annual Per SF | $23.30 |
| Taxes | |
|---|---|
| Annual | $104,729 |
| Annual Per SF | $1.31 |
| Operating Expenses | |
|---|---|
| Annual | $1,401,827 |
| Annual Per SF | $17.50 |
| Total Expenses | |
|---|---|
| Annual | $1,506,556 |
| Annual Per SF | $18.80 |
| Net Operating Income | |
|---|---|
| Annual | $360,402 |
| Annual Per SF | $4.50 |
PROPERTY FACTS
| Price | $11,500,000 | Building Size | 80,120 SF |
| Price Per Room | $78,231 | No. Rooms | 147 |
| Sale Type | Investment | No. Stories | 3 |
| Cap Rate | 3.13% | Year Built/Renovated | 1971/2019 |
| Property Type | Hospitality | Parking Ratio | 1.86/1,000 SF |
| Property Subtype | Hotel | Corridor | Exterior |
| Building Class | C | Opportunity Zone |
Yes
|
| Lot Size | 2.37 AC | ||
| Zoning | C-R | ||
| Price | $11,500,000 |
| Price Per Room | $78,231 |
| Sale Type | Investment |
| Cap Rate | 3.13% |
| Property Type | Hospitality |
| Property Subtype | Hotel |
| Building Class | C |
| Lot Size | 2.37 AC |
| Building Size | 80,120 SF |
| No. Rooms | 147 |
| No. Stories | 3 |
| Year Built/Renovated | 1971/2019 |
| Parking Ratio | 1.86/1,000 SF |
| Corridor | Exterior |
| Opportunity Zone |
Yes |
| Zoning | C-R |
AMENITIES
- High Speed Internet Access
- Public Access Wifi
- Fully-Equipped Kitchen
ROOM MIX INFORMATION
| DESCRIPTION | NO. ROOMS | DAILY RATE | SF |
|---|---|---|---|
| Suite | 147 | $71.00 | - |
PROPERTY TAXES
| Parcel Number | 49-044-00-002 | Total Assessment | $1,044,763 (2024) |
| Land Assessment | $214,588 (2024) | Annual Taxes | $104,729 ($1.31/SF) |
| Improvements Assessment | $830,175 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
49-044-00-002
Land Assessment
$214,588 (2024)
Improvements Assessment
$830,175 (2024)
Total Assessment
$1,044,763 (2024)
Annual Taxes
$104,729 ($1.31/SF)
Tax Year
2023
MAP
ADDITIONAL PHOTOS
715 Kipling Street Lakewood CO-print-001-002-Exterior Front-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-016-001-Bathroom-2399x3600-300dpi
715 Kipling Street Lakewood CO-print-002-007-Exterior Front-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-022-023-Exterior-3600x2398-300dpi
715 Kipling Street Lakewood CO-print-024-028-Exterior-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-006-004-Living Room-3600x2400-300dpi
Primary Photo
715 Kipling Street Lakewood CO-print-003-006-Lobby-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-007-005-Living Room-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-008-013-Kitchen-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-009-009-Kitchen-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-010-008-Kitchen-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-012-015-Bedroom-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-013-012-Bedroom-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-017-016-Bedroom-3600x2398-300dpi
715 Kipling Street Lakewood CO-print-018-019-Bathroom-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-019-020-Bedroom-3600x2399-300dpi
715 Kipling Street Lakewood CO-print-020-021-Lower Level Boiler Roorm-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-004-025-Laundry Room-3600x2400-300dpi
715 Kipling Street Lakewood CO-print-021-022-Lower Level Boiler Roorm-3600x2400-300dpi
Aerial
715 Kipling Street Lakewood CO-print-025-017-Exterior-3600x2400-300dpi
715 Kipling St Lakewood CO-print-001-001-Exterior Front-3600x2400-300dpi
715 Kipling St Lakewood CO-print-008-011-Exterior Rear-3600x2400-300dpi
Building Photo
Building Photo
Plat Map