For Sale
$6,675,000

6700 Wadsworth BlvdArvada, CO 80003

26-unit Arvada apartment building; high cap rate.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 26-unit apartment building, known as Wadsworth Arms, presents a compelling investment opportunity in Arvada, Colorado. Located at 6700 Wadsworth Blvd, 80003, this Class C property boasts 29,590 square feet on a 0.99-acre lot and offers 36 parking spaces. Built in 1957, the building features 24 three-bedroom units, with the remaining two units also offering ample space. The current cap rate stands at 6.51%, with a pro-forma cap rate of 7.81%, reflecting the potential for increased profitability. The current Net Operating Income (NOI) is $434,844, projected to rise to $521,573. Recent capital improvements include a new roof, gutters, concrete replacement, and several updated furnaces and hot water heaters. Residents enjoy private patios and balconies. The property's prime location is just 1.5 miles from Olde Town Arvada and the light rail station, providing convenient access to downtown Denver and the mountains via I-70. Nearby amenities include major retail centers and employers such as Home Depot, Starbucks, Lowe's, and Costco. The asking price is $6,675,000, translating to $256,730.77 per unit and $225.58 per square foot. This is a ground lease-free property.

Highlights

  • $6,675,000 asking price for a 26-unit apartment building in Arvada, Colorado.
  • 6.51% current cap rate, 7.81% pro-forma cap rate, with a $434,844 NOI and a $521,573 pro-forma NOI.
  • 29,590 square feet, priced at $225.58 per square foot, and $256,730.77 per unit.
  • Mostly three-bedroom units, with recent capital improvements including roof, gutters, concrete, furnaces, and hot water heaters.
  • Features private patios and balconies, located 1.5 miles from Olde Town Arvada and the light rail station, with easy access to downtown Denver and the mountains via I-70.
  • Close proximity to major retail centers and employers, including Home Depot, Starbucks, Lowe's, and Costco.

Property Details for 6700 Wadsworth Blvd

Property type
Apartment buildings
Square Feet
29,590 SF
Class
C
Year Built
1957
Lot Size (sq. ft)
43,124 SF
Units
26

Location Insight

City
Arvada
County
Jefferson
State
Colorado
Latitude
39.819280299416
Longitude
-105.08082905584
6700 Wadsworth Blvd, Arvada, Colorado

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6700 Wadsworth Blvd
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