For Sale
$1,375,000

1628 Eaton StLakewood, CO 80214

5-Unit Apartment Building, High ROI

Overview

Added:
Dec 11, 2024
Days on market:
116
This exceptional investment opportunity presents a 5-unit multifamily property situated on a desirable .42-acre corner lot in Lakewood, Colorado's Edgewater/Sloan's Lake area. The property comprises a four-plex and a single-family home, offering a diverse income stream. The four-plex features two renovated 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, all with updated windows and electrical panels. Each unit boasts individual electric meters. A convenient on-site coin-operated laundry facility adds to the property's appeal. The single-family home, remodeled in 2020, offers 3 bedrooms, 2 bathrooms, a dedicated washer/dryer, an oversized garage, and a private backyard. Both buildings received new roofs in 2018. The property boasts a 6.23% cap rate and a pro-forma cap rate of 6.43%, with a current NOI of $85,700 and a pro-forma NOI of $88,457. Zoned R-MF, this property offers significant redevelopment potential. Its prime location provides easy access to Sloan's Lake Park, the vibrant Edgewater neighborhood, and the revitalized Colfax Avenue corridor, placing it within a 10-minute drive of downtown Denver. The asking price is $1,375,000, or $275,000 per unit. This turnkey investment offers strong cash flow potential and significant long-term appreciation in a thriving market. The property's features include off-street parking and generous outdoor space. Built in 1922 and renovated in 2024, this two-story, two-building complex offers a blend of modern updates and classic charm.

Highlights

  • Five-unit property: four-plex (two 2/1s, two 1/1s) plus a 3/2 single-family home.
  • Offered at $1,375,000 ($275,000 per unit).
  • 5.6% cap rate provides strong cash flow.
  • Excellent Edgewater/Sloan's Lake location in high-demand rental market.
  • Near Sloan's Lake Park.
  • R-MF zoning on a 0.42-acre lot allows for redevelopment.

Property Details for 1628 Eaton St

Property type
Apartment buildings
Square Feet
4,806 SF
Year Built/Renovated
1922/2024
Buildings
2
Stories
2
Lot Size (sq. ft)
18,295 SF
Units
5

Location Insight

City
Lakewood
County
Jefferson
State
Colorado
Latitude
39.742562637862
Longitude
-105.05909395837
1628 Eaton St, Lakewood, Colorado

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1628 Eaton St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message