6700 Wadsworth BlvdArvada, CO 80003

Property Details for 6700 Wadsworth Blvd

Year built

1957

Lot size

0.99 AC

Property size (Sq ft)

29,590 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This exceptional 26-unit apartment building, known as Wadsworth Arms, presents a compelling investment opportunity in Arvada, Colorado. Located at 6700 Wadsworth Blvd, 80003, this Class C property boasts 29,590 square feet on a 0.99-acre lot and offers 36 parking spaces. Built in 1957, the building features 24 three-bedroom units, with the remaining two units also offering ample space. The current cap rate stands at 6.51%, with a pro-forma cap rate of 7.81%, reflecting the potential for increased profitability. The current Net Operating Income (NOI) is $434,844, projected to rise to $521,573. Recent capital improvements include a new roof, gutters, concrete replacement, and several updated furnaces and hot water heaters. Residents enjoy private patios and balconies. The property's prime location is just 1.5 miles from Olde Town Arvada and the light rail station, providing convenient access to downtown Denver and the mountains via I-70. Nearby amenities include major retail centers and employers such as Home Depot, Starbucks, Lowe's, and Costco. The asking price is $6,675,000, translating to $256,730.77 per unit and $225.58 per square foot. This is a ground lease-free property.

Location Insight

City

Arvada

County

Jefferson

State

Colorado

Latitude

39.8193

Longitude

-105.081

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