5997 Magnolia StCommerce City, CO 80022

Property Details for 5997 Magnolia St

Year built

1942

Lot size

0.39 AC

Property size (Sq ft)

2,800 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional four-unit apartment building, located at 5997 Magnolia St, Commerce City, CO 80022, presents a compelling investment opportunity. Built in 1942, this 2,800 square foot property sits on a 0.39-acre lot and boasts a current NOI of $62,987, translating to a 6.43% cap rate. A pro-forma NOI of $74,187 projects a 7.57% cap rate, indicating significant potential for increased profitability. Each of the four units is priced at $245,000, with the entire property listed at $980,000 ($350 per square foot). Recent renovations include high-end finishes, in-unit washers and dryers, stainless steel appliances, new flooring, lighting, and cosmetic upgrades. Residents enjoy private fenced yards and ample parking. The property's prime location offers easy access to major roads and a short commute to Denver. This turnkey property is ideal for owner-occupancy or as a valuable addition to an existing portfolio. Note that this property is part of a larger portfolio sale that also includes 6680-6690 E 63rd Pl

Location Insight

City

Commerce City

County

Adams

State

Colorado

Latitude

39.8056

Longitude

-104.912

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