For Sale
$1,275,000

717 Oak StLakewood, CO 80215

Six-unit apartment building, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
116
This well-maintained, six-unit apartment building at 717 Oak Street in Lakewood, Colorado, presents a compelling investment opportunity. The property boasts 5,006 square feet on a 0.29-acre lot and features a desirable unit mix, primarily two-bedroom, one-bathroom apartments. Residents enjoy convenient amenities such as on-site laundry facilities and individual storage lockers. Built in 1961, this three-story building offers a strong current NOI of $74,342 and a pro-forma NOI of $79,380, translating to a 5.83% cap rate and a pro-forma cap rate of 6.23%. The asking price is $1,275,000, or $212,500 per unit, and the price per square foot is $254.69. The property's location within an Opportunity Zone, coupled with its proximity to the 6th Avenue highway, provides excellent access to downtown Denver and surrounding areas. Nearby amenities include the Oak Street and Federal Center Light Rail stations, the Belmar Shopping District, and St. Anthony Hospital. The average household income within a two-mile radius is $94,000. This property is situated in Jefferson County, Colorado, with the APN 49-044-18-019 and zip code 80215. The property can be purchased individually or as part of a larger portfolio. The land value per square foot is $100.93.

Highlights

  • Excellent unit mix, primarily two-bedroom apartments.
  • On-site laundry facilities and individual storage units.
  • Situated in an Opportunity Zone on a large parcel.
  • Convenient proximity to Oak Street and Federal Center Light Rail stations.
  • Strong demographics: Average household income exceeding $94,000 within a two-mile radius.
  • Prime location with easy access to 6th Avenue, Denver Federal Center, Belmar Shopping District, and St. Anthony Hospital.

Property Details for 717 Oak St

Property type
Apartment buildings
Square Feet
5,006 SF
Year Built
1961
Stories
3
Lot Size (sq. ft)
12,632 SF
Units
6

Location Insight

City
Lakewood
County
Jefferson
State
Colorado
Latitude
39.7283358
Longitude
-105.1188315
717 Oak St, Lakewood, Colorado

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717 Oak St
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