5562 Newland WayArvada, CO 80002

Property Details for 5562 Newland Way

Year built

1971

Lot size

0.35 AC

Property size (Sq ft)

5,068 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

This 8-unit apartment building in Arvada, Colorado, presents a compelling investment opportunity. Located at 5562 Newland Way, 80002, this property boasts a current cap rate of 6.25% and a pro-forma cap rate of 6.46%, reflecting a strong potential for return. The asking price is $1,335,000, translating to $166,875 per unit. Built in 1971, the 5,068 square foot building sits on a sizable 0.35-acre corner lot featuring mature landscaping and a sprinkler system. Recent upgrades include a newer boiler and windows, along with updated kitchens and bathrooms. The property includes 14 parking spaces in a private lot and an on-site coinless washer and dryer with room for expansion. Its prime location is just half a mile from the Olde Town Arvada Light Rail Station, Olde Town Arvada, and major retail amenities, ensuring convenient access and high tenant demand. The property's strong cash flow, combined with its strategic location and recent improvements, makes it an ideal turn-key investment with significant rental upside potential. Quick access to Wadsworth Blvd, I-70, and I-76 further enhances its appeal. The building is classified as Class C. The Net Operating Income (NOI) is $83,421, with a pro-forma NOI of $86,291.

Location Insight

City

Arvada

County

Jefferson

State

Colorado

Latitude

39.798

Longitude

-105.07

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