1360 Zephyr StLakewood, CO 80214

Zephyr Flats, located at 1360 Zephyr St, Lakewood, CO 80214, presents a compelling investment opportunity. This multifamily property consists of four single-story buildings totaling 7,004 square feet on a 0.63-acre lot (APN 49-022-12-002). The property features 11 units, offering a mix of one, two, and three-bedroom configurations, each with a private fenced yard. Recent capital improvements include newer parking lots and roofs on all buildings. The property boasts a current net operating income (NOI) of $141,515, resulting in a strong 6.69% cap rate, with a pro-forma NOI of $148,667 and a pro-forma cap rate of 7.03%. Additional amenities include on-site laundry and storage units. Its convenient location is a short walk from the Wadsworth Light Rail Station and nearby retail centers at Wadsworth Blvd and Colfax Ave. The large lot, zoned M-R-U (Mixed Use - Residential - Urban), presents potential for future redevelopment. The asking price is $2,115,000, translating to $192,273 per unit and $276.40 per square foot. The land value is $77.07 per square foot. This property is ideal for both standalone investment and portfolio expansion.