For Sale
$14,000,000

7655 67Th AveArvada, CO 80004

70-unit multifamily, high ROI potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity: Cinnamon Ridge Apartments, a 70-unit apartment building in Arvada, Colorado, is offered at $14,000,000. This four-story, 55,204 square foot building sits on a 68,825 square foot lot and boasts a strong 5.57% cap rate, with a pro-forma cap rate of 7.56%. The property features a mix of studio, one-bedroom, and two-bedroom units, with a potential 70th unit conversion from the existing leasing office. Built in 1967, Cinnamon Ridge has undergone significant recent upgrades, including a new roof, energy-efficient windows, an updated boiler, and modern electrical panels. The current NOI is $780,000, with a pro-forma NOI of $1,077,894, reflecting the potential for increased rental income. Additional features include an elevator and solar panels. The property's prime location in Arvada offers residents easy access to amenities, parks, shopping, and dining, while the strong local market presents significant growth potential. The unit mix includes 1 studio, 22 one-bedroom, and 46 two-bedroom apartments, offering a diverse tenant base. The current price per unit is $200,000, and the price per square foot is $253.60. This well-maintained property presents a compelling investment opportunity with a clear path to maximizing rental income.

Highlights

  • Twin T construction.
  • Excellent unit mix featuring spacious floor plans.
  • Equipped with an elevator.
  • Features solar panels.
  • Major systems recently upgraded.
  • Significant rental upside potential.

Property Details for 7655 67Th Ave

Property type
Apartment buildings
Square Feet
55,204 SF
Year Built
1967
Buildings
1
Stories
4
Units
70

Location Insight

City
Arvada
County
Jefferson
State
Colorado
Latitude
39.818334554657
Longitude
-105.08253109161
7655 67Th Ave, Arvada, Colorado

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7655 67Th Ave
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