2711 Harlan StWheat Ridge, CO 80214

Property Details for 2711 Harlan St

Year built

1958

Lot size

0.34 AC

Property size (Sq ft)

4,650 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional six-unit apartment building, located at 2711 N Harlan St in Wheat Ridge, Colorado (zip code 80214), presents a compelling investment opportunity. Built in 1958, this single-story property boasts 4,650 square feet situated on a 0.34-acre lot and is zoned R-3. The asking price is $1,275,000, translating to $212,500 per unit and $274.19 per square foot. The property currently generates a Net Operating Income (NOI) of $70,987, representing a 5.57% capitalization rate. A pro-forma NOI of $82,112 projects a 6.44% capitalization rate, indicating significant upside potential. The unit mix includes five two-bedroom units and one three-bedroom unit, each featuring updated kitchens, bathrooms, and flooring. Individual gas and electric meters, along with central air conditioning, enhance tenant comfort and efficiency. The property benefits from its convenient location near Sloan's Lake park and the Edgewater Market place, offering residents easy access to restaurants, bars, and national retailers. This value-add opportunity allows for rent stabilization with minimal capital expenditures, making it an attractive investment in a thriving Denver metro area experiencing strong rent growth due to corporate relocations.

Location Insight

City

Wheat Ridge

County

Jefferson

State

Colorado

Latitude

39.756

Longitude

-105.063

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