120 Jay Street

Lakewood, CO 80226

Incomes Property  $1,300,000  Sold

10-24-2019 06:26am

Property Description

8.2% cap rate! 7 unit apartment building in Lakewood, just 15 minutes away from Downtown Denver and a straight shot into the mountains going West on Highway 6. Consist of seven 3-bedroom apartments on a large, well-maintained lot. Plus a large laundry/mechanical room that includes 7 storage units for additional income. This space could also be a potential 8th unit! Great location: Just minutes away from the Light Rail - Denver West Line. Close to great retail stores such as Walmart, Home Depot and the shops at Belmar which include Whole Foods and the Lakewood City Commons. The Lakewood Reinvestment Authority is the major economic force in the Lakewood area and has encouraged a combination of gentrification and new construction which is occurring within this defined neighborhood.

Listing Details

MLS#
3790218
MLS Originator
REcolorado (Denver)
Off Market Date
07-17-2019 12:00am
Original Price
$1,400,000
Distance to Rail
5.00

Property Details

Property
Income
Property Subtype
Income
Status
Sold
Status Conditions
None Known
Last Update
10-24-2019 06:26am
Bedrooms
21
Bathrooms
7
SqFt
6156
Year Built
1958
Der PSF Total
211.18

Map

Property Level and Sizes

SqFt Lot
14000.00
SqFt Finished
6156
SqFt Basement
3078
SqFt Above
3078

Financial Details

Sold Price
$1,300,000
Previous Year Tax
$4,446
Terms and Conditions
Cash, Conventional, Exchange, Private Financing
Owner Paid Utilities
Gas,Insurance,Trash,Water
Transaction Type
For Sale

Interior Details

Cooling
Air Conditioning-Room
Heating
Forced Air
Heating Fuel
Hot Water

Room Details

Laundry Availability
Coin-operated,Shared Laundry in Building,Washer/Dryer Included

Exterior Details

Base Type
Walk-Out
Base Finished
Yes
Base Size
Full
Basement Finished %
100
Parking Spaces
1
Vehicle Spaces
13
Type
# of Space
L x W
Description
Off-Street
13
-
Parking Lot

Exterior Construction

Building Type
5+ Plex (all units)
Structure
Ranch/1 Story
Roof
Composition Shingles
Construction
Brick
Construction Method
Brick
Builder Source
Appraiser Measured

Schools

School District
Jefferson County R-1
Elementary School
Stein
Middle School
Alameda Int'l
High School
Alameda Int'l

Condominium Projections

Annual Actual Expenses
31566
Annual Projected Expenses
42084
Annual Actual Income
142820
Annual Projected Income
150572
Annual Actual Net Income
111254
Annual Projected Net Income
108488
Unit Furnished
0

Land Details

PPA
4062500.00
Lot Width
0.00

Contact Agent

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