5275 1St AveLakewood, CO 80226

Property Details for 5275 1St Ave

Year built

1961

Lot size

1.34 AC

Property size (Sq ft)

29,770 SF

Property type

Other multifamily properties

Property subtype

Residential income properties

Description

This exceptional Lakewood multifamily property boasts 29,770 square feet on a generous 1.34-acre lot, offering a compelling investment opportunity. The property features a desirable unit mix, primarily consisting of two-bedroom apartments, and currently yields a 6.42% CAP rate. Recent capital improvements significantly enhance its value, including a new roof, updated windows and sewer line, fresh exterior paint, and upgraded lighting. The expansive lot includes a large storage area with the potential to add three studio units, increasing revenue potential. Residents enjoy convenient access to the Belmar Shopping District, less than two miles away, and benefit from quick access to major thoroughfares like Sheridan Boulevard and the 6th Avenue Freeway. On-site amenities include a fenced-in dog run and ample parking with 26 covered carport spaces and 30 additional off-street spaces. This property presents a rare opportunity to acquire a well-maintained, high-performing multifamily complex in a prime Lakewood location. Note: This property can be purchased in conjunction with 1360 Zephyr Street and 717 Oak Street.

Location Insight

City

Lakewood

County

Jefferson

State

Colorado

Latitude

39.7192

Longitude

-105.054

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