For Sale
$2,795,000

1320 Ammons StLakewood, CO 80214

14-unit multifamily, excellent location.

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional 14-unit apartment building, located at 1320 Ammons Street in Lakewood, Colorado, presents a compelling investment opportunity. The property, built in 1961 and boasting a Class B designation, offers a total of 12,932 square feet on a sizable 21,000 square foot lot. The building comprises a mix of five one-bedroom and nine two-bedroom units, each benefiting from recent upgrades. These renovations include updated cabinets, appliances, bathrooms, flooring, and electrical panels, minimizing deferred maintenance. The property's strong financial performance is reflected in its current NOI of $169,232 and a pro-forma NOI of $175,054, translating to a 6.10% cap rate and a pro-forma cap rate of 6.30%. The asking price is $2,795,000, or $199,643 per unit. Ample parking is provided with 21 off-street spaces. Its prime location directly on the "W" Light Rail Line offers convenient access to downtown Denver and I-70, both less than 10 minutes away. The property is zoned R-3. This well-maintained building presents a rare opportunity to acquire a stable, high-performing multifamily asset in a desirable location with significant upside potential.

Highlights

  • Recently renovated.
  • Convenient light rail access.
  • Spacious lot with abundant parking.
  • Immaculately maintained; no deferred maintenance.
  • Under 10-minute commute to Downtown Denver and I-70.

Property Details for 1320 Ammons St

Property type
Apartment buildings
Square Feet
12,932 SF
Class
B
Year Built
1961
Units
14

Location Insight

City
Lakewood
County
Jefferson
State
Colorado
Latitude
39.7369951
Longitude
-105.08729985
1320 Ammons St, Lakewood, Colorado

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1320 Ammons St
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