Listing Provided By: Josh Newell with Pinnacle Real Estate Advisors
Very Attractive Financing: 3.22% Assumable Loan Fixed Through May 1, 2026 Multiple Income Sources: (3) Adjacent 4-Plexes + (10) Garages + Large Workshop Potential Covered-Land Play: Excellent Zoning (R-MF) on 0.64 Acres Allows for a 48 Unit Apartment Redevelopment Opportunity to Split Property Into (3) 4-Plexes & Sell Off Individual 4-Plexes Many Recent Capital Improvements Including New: Windows, Electrical Panels, Exterior Paint & Numerous Interior Updates 6.08% Current CAP Rate City Mandated Residential Growth Restrictions Will Rapidly Increase Rents & Values in Lakewood Proforma Rents Already Being Achieved Short Walk to Wadsworth Light Rail Station, Large Retail, Restaurants and Employment Centers
- Price:
- $2,350,000
- Square Footage:
- 6,336
- Acreage:
- 0.64
- Year Built:
- 1952
- Listing ID #:
- 7150469
- Street Address:
- 1650 Vance St
- City:
- Lakewood
- State:
- Colorado
- Postal Code:
- 80214
- County:
- Jefferson
- Listing Status:
- Active
- Listing Type:
- Commercial Sale
- Construction Description:
- Frame
- Number Of Floors In Unit:
- Two
- Number Of Units:
- 12
- Stories:
- 2
- Style:
- Mid Rise
- Total Building Square Footage:
- 6336
- Type Of Roof:
- Membrane
- Year Built:
- 1952
- Gross Income:
- 204181
- Operating Expense:
- 61195
- Existing Land Use:
- Multi-Family
- Lot Features:
- Landscaped, Near Public Transit
- Lot Size:
- 0.64
- Lot Square Footage:
- 27878.4
- Road Frontage Type:
- Public Road
- Road Type:
- Paved
- Days On Market:
- 164
- Excluded:
- Tenant Possessions
- Originating Mls:
- Reco
- Previous Listing Price:
- 2525000
- Terms:
- Cash, Conventional
- Building Name:
- Vance Apartments & Garages
- Owner Pays:
- Electricity, Gas, Trash Collection
- Property Taxes:
- $10,301
- Tax Year:
- 2021
- Tenant Pays:
- Cable Tv, Internet, Telephone, Water
- Covered Parking Spaces:
- 10
- Garage Parking Spaces:
- 10
- Has Garage:
- Yes
- Parking Spaces:
- 10
- Sewage Type:
- Public Sewer
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The amounts for the Tax, Insurance, and HOA are estimates and not actual amounts.
Your Payment
$1,400/mo
Source: CINC
- Listing Provided By: Josh Newell with Pinnacle Real Estate Advisors
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