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Bluebird Apartments 9945-9955 W 59th Pl 8 Unit Apartment Building $1,600,000 ($200,000/Unit) 6.12% Cap Rate Arvada, CO 80004
INVESTMENT HIGHLIGHTS
- Individually Deeded Units = Condo Conversion Opportunity
- Recent Capital Improvements Include: Roof, Windows, Boiler, Hot Water Heaters and Majority of Units Have Been Renovated
- Just One Mile to Arvada Ridge Light Rail Station. Walk to Parks, Restaurants, Retail, Public Transportation and Places of Employment
- All Large 2Bd & 3Bd Units
- Excellent Neighborhood Demographics: Average Household Income of $98k within 1 Mile
- Quick Access to Kipling Pkwy, I-70, Downtown Denver and Rocky Mountains
EXECUTIVE SUMMARY
JUST LISTED! 8-Unit Apt Bldg in Arvada; All 2Bds & 3Bds. All units are individually-deeded condos. Prime location, excellent neighborhood demographics and nearby retail, parks, and public transportation.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$141,360
|
$19.55
|
| Other Income |
$13,955
|
$1.93
|
| Vacancy Loss |
$7,766
|
$1.07
|
| Effective Gross Income |
$147,549
|
$20.40
|
| Taxes |
$7,114
|
$0.98
|
| Operating Expenses |
$42,441
|
$5.87
|
| Total Expenses |
$49,555
|
$6.85
|
| Net Operating Income |
$97,994
|
$13.55
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $141,360 |
| Annual Per SF | $19.55 |
| Other Income | |
|---|---|
| Annual | $13,955 |
| Annual Per SF | $1.93 |
| Vacancy Loss | |
|---|---|
| Annual | $7,766 |
| Annual Per SF | $1.07 |
| Effective Gross Income | |
|---|---|
| Annual | $147,549 |
| Annual Per SF | $20.40 |
| Taxes | |
|---|---|
| Annual | $7,114 |
| Annual Per SF | $0.98 |
| Operating Expenses | |
|---|---|
| Annual | $42,441 |
| Annual Per SF | $5.87 |
| Total Expenses | |
|---|---|
| Annual | $49,555 |
| Annual Per SF | $6.85 |
| Net Operating Income | |
|---|---|
| Annual | $97,994 |
| Annual Per SF | $13.55 |
PROPERTY FACTS
| Price | $1,600,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.44 AC |
| Cap Rate | 6.12% | Building Size | 7,232 SF |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1958/2024 |
| Property Subtype | Apartment | Parking Ratio | 1.8/1,000 SF |
| Zoning | PUD-K, Arvada | ||
| Price | $1,600,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 6.12% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.44 AC |
| Building Size | 7,232 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1958/2024 |
| Parking Ratio | 1.8/1,000 SF |
| Zoning | PUD-K, Arvada |
AMENITIES
UNIT AMENITIES
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Vinyl Flooring
SITE AMENITIES
- Laundry Facilities
- Grill
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 6 | $1,409 | 700 |
| 3+1 | 2 | $1,663 | 900 |
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Walk Score®
Very Walkable (79)
CONTACTS
-
Jake Waxter -
Barton Thompson -
Josh Newell -
Annie Joseph -
Pinnacle Real Estate Advisors
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Bluebird Apartments | 9945-9955 W 59th Pl
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