10541 7Th PlLakewood, CO 80215

Property Details for 10541 7Th Pl

Year built

1959

Property size (Sq ft)

3,576 SF

Property type

Apartment buildings

Description

This exceptional four-unit apartment building at 10541 W 7th Pl, Lakewood, CO 80215, presents a compelling investment opportunity. Boasting a total of 3,576 square feet on an 8,625 square foot lot, this property offers a strong current NOI of $46,625, translating to a 4.44% cap rate. Pro-forma projections indicate a significant increase to a 5.62% cap rate and a NOI of $58,976. Each unit is a spacious two-bedroom, one-bathroom layout, featuring private balconies or patios. Three of the four units have been recently updated with fresh paint, luxury vinyl plank flooring, and granite countertops. The building itself showcases meticulous maintenance and pride of ownership, evident in recent upgrades including a new roof (2018), an updated boiler (2009), and energy-efficient vinyl windows. Residents enjoy the convenience of on-site laundry facilities. The property's prime location offers easy access to the shopping and entertainment options at Belmar and Colorado Mills. Ample off-street parking is available, and each unit has separately metered electric. This well-maintained building, with its attractive landscaping and strong rental history, represents a rare opportunity for investors seeking a low-maintenance, high-return property in a desirable Lakewood location. The asking price is $1,050,000, or $262,500 per unit. Built in 1959, this property offers a blend of classic charm and modern updates.

Location Insight

City

Lakewood

County

Jefferson

State

Colorado

Latitude

39.7291

Longitude

-105.116

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