1045 Balsam StLakewood, CO 80214

Property Details for 1045 Balsam St

Year built

1960

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 11-unit apartment building at 1045 Balsam St, Lakewood, CO 80214, presents a compelling investment opportunity. Built in 1960 and situated on a 19,950 sq ft lot, this property boasts 8,590 net rentable square feet, currently generating a NOI of $106,537 and a 4.63% cap rate. However, a pro-forma NOI of $137,988 and a 6.00% cap rate demonstrate significant upside potential. The asking price is $2,300,000, or $209,090.91 per unit. The unit mix includes one studio, four one-bedroom/one-bathroom, and six unique two-bedroom/two-bathroom units—the latter offering private bathrooms for each roommate, enhancing their appeal. Desirable features include private balconies (some with multiple), ample parking, and proximity to the W Line light rail. The property is zoned R-4, allowing for flexibility. Individual electric meters and multiple on-site laundry rooms add to the operational efficiency. This property offers an investor the chance to capitalize on above-average unit sizes and further increase rents through continued renovations, maximizing cash flow and property value. The building's strong foundation and location provide a solid base for future growth and returns.

Location Insight

City

Lakewood

County

Jefferson

State

Colorado

Latitude

39.7339

Longitude

-105.089

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].