454 Arapahoe Avenue

Boulder, CO 80302

Incomes Property  $1,850,000  Active

05-16-2019 10:14am

Property Description

GREAT LOCATION! 100% OCCUPIED! MOUNTAIN VIEWS! LOW PRICE PER ROOM ($154,167/ROOM)! STUDENT RENTAL OPPORTUNITY! PERFECT INVESTMENT PROPERTY!Built in 1972, 454 Arapahoe Ave. is a three-unit apartment building with 12 total bedrooms well-located in Boulder, CO. The triplex consists of a single three-story concrete and stucco building with three 4BD/1.5BA units (1,131SF), for a total of 3,393 RSF. Each unit has a wooden balcony or concrete patio off of the living room and a wood-burning fireplace. There is exterior access to the building and a fenced perimeter around the tree-shaded lot. Nine off-street parking spots are available. There is an on-site laundry to the rear of the property. Property is currently Smart Regs compliant. There is additional upside by increasing rent through renovating the units and adding two additional bathrooms per unit. Seller has initiated renovation approval process with the city. Plans associated with this addition will be conveyed at Closing.

Listing Details

MLS#
3706791
MLS Originator
REcolorado (Denver)
Original Price
$1,850,000

Property Details

Property
Income
Property Subtype
Income
Status
Active
Last Update
05-16-2019 10:14am
Bedrooms
12
Bathrooms
6
SqFt
3393
Year Built
1972
Der PSF Total
545.24

Map

Property Level and Sizes

SqFt Lot
12138.00
SqFt Finished
3393
SqFt Basement
1131
SqFt Above
2262

Financial Details

Previous Year Tax
$7,491
Terms and Conditions
Cash, Conventional
Transaction Type
For Sale

Interior Details

Interior Features
Cable Available, Eating Space / Kitchen, Internet Access (Wired)
Appliances
Dishwasher, Disposal, Refrigerator (Kitchen), Stove/Range/Oven
Flooring
Carpet, Tile Floor, Plank Vinyl
Cooling
Other
Heating
Forced Air
Heating Fuel
Gas, Wood
Other HVAC
Gas Water Heater
Fireplaces Features
Wood
Utilities
Cable TV, Internet Access (Wired), Telephone

Room Details

Laundry Availability
Coin-operated

Exterior Details

Features
Balcony, Fence, Patio, Yard
Base Type
Garden Level
Base Finished
Yes
Base Floor Plan
Slab
Base Size
Full
Basement Finished %
100
Parking Spaces
1
Parking Features
Driveway-Concrete
Vehicle Spaces
9
Type
# of Space
L x W
Description
Off-Street
9
-
Lot View
Mountain View

Exterior Construction

Building Type
Low Rise (all units)
Structure
Multi-Story
Roof
Unknown
Construction
Stucco
Exterior Features
Balcony, Fence, Patio, Yard
Construction Method
Concrete
Builder Source
County Records

Schools

School District
Boulder Valley RE 2

Condominium Projections

Annual Actual Expenses
17420
Annual Projected Expenses
19864
Annual Actual Income
88800
Annual Projected Income
120000
Annual Actual Net Income
71380
Annual Projected Net Income
100136
Unit Furnished
0

Land Details

PPA
6607142.86
Lot Width
0.00
Road Surface
Paved Road

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