5 Beds
2 Baths
2,270 SqFt
5 Beds
2 Baths
2,270 SqFt
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 2,270 sqft
Price per Sqft $297
Subdivision Hillcrest Heights
MLS Listing ID 2488508
Bedrooms 5
HOA Y/N No
Abv Grd Liv Area 1,302
Originating Board recolorado
Year Built 1938
Annual Tax Amount $3,181
Tax Year 2023
Lot Size 10,018 Sqft
Acres 0.23
Property Description
Discover a unique investment opportunity in the heart of Wheat Ridge along the bustling Wadsworth Boulevard corridor. This two unit property sits in a highly opportunistic area, currently zoned R-2, with immense potential for commercial or mixed-use rezoning, offering long-term development advantages. Currently being used as a residential investment with two long term tenants in place.
Property Features:
Upper Unit: 3-bed, 1-bath, recently remodeled (2020-2021), includes washer/dryer and access to a one-car garage. additional revenue potential by monetizing the garage space.
Lower Unit: 2-bed, 1-bath garden-level unit with egress windows in every room, washer/dryer included.
Outdoor Space: Fully fenced backyard shared by both units.
Parking: Ample off-street parking, including RV parking.
Investment Highlights:
Cap Rate Growth Potential: Owner currently covers utilities (gas, electric, water, sewer). Transferring these to tenants immediately increases net income.
Current Lease Structure: 3-bed unit is month-to-month at $2450, offering flexibility; 2-bed unit leased through November 2025 at $1600.
Future Development Upside: Potential for mixed-use conversion, ideal for a retail storefront on one level and residential or office space above.
Whether you're an investor looking to optimize returns with strategic lease adjustments or a visionary developer seeking long-term appreciation in a growing area, this property presents endless opportunities.
Don't miss out on this high-yield, versatile investment in a rapidly evolving market! Contact us today for more details or to schedule a private tour. Seller is open to creative financing opportunities as well.
Location
State CO
County Jefferson
Zoning R2
Rooms
Basement Finished
Interior
Heating Hot Water, Radiant
Cooling None
Flooring Carpet, Tile, Wood
Fireplace N
Appliance Dishwasher, Dryer, Oven, Refrigerator, Washer
Laundry In Basement, In Unit, Main Level, Multiple Locations
Exterior
Exterior Feature Private Yard, Rain Gutters
Parking Features Concrete
Garage Spaces 1.0
Fence Full
Roof Type Composition
Total Parking Spaces 10
Garage Yes
Building
Sewer Public Sewer
Water Public
Level or Stories One
Structure Type Brick,Frame
Schools
Elementary Schools Wilmore-Davis
Middle Schools Everitt
High Schools Wheat Ridge
School District Jefferson County R-1
Others
Senior Community No
Ownership Corporation/Trust
Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, Other
Listing Terms 1031 Exchange, Cash, Conventional, FHA, Other
Special Listing Condition None
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
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Consultant | Broker Associate | FA100030130