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Multifamily

Zephyr Apartments

1320 - 1330 Zephyr Street, Lakewood, CO 80214

Listing Price: $4,600,000

Cap Rate
5.93%
Number of Units
22
GRM
11.33
Occupancy
98.0%
Price/Unit
$209,091

Investment Overview

Built in 1970, The Zephyr is a well-maintained 22-unit apartment community in Lakewood, Colorado. It is located just a five-minute walk from the Lakewood- Wadsworth Light Rail Station, which provides access to downtown Denver, Golden, and the surrounding metropolitan area. These two all-brick, turn-key buildings consist of 20 two-bedroom units and two one-bedroom units. 16 of the 22 units have large private balconies.
The property has had significant capital improvements over the last 10 years including parking lot replacement, roof replacement, newer windows, new balconies, boiler upgrades, and washers and dryers. Select units have upgraded kitchens and bathrooms with vinyl plank flooring. Each building has an on-site
income producing laundry facility (property owned) as well as separate storage for each unit. Each building has secured entry to interior hallways with video surveillance throughout the property. This property is at the end of a quiet culde- sac and has plenty of parking for residents. Each unit is individually metered for electric paid directly by residents. The buildings are master metered for gas, water and sewer usage. These are not currently, but can be, billed back to residents as a value-add for a new owner.

Investment Highlights

  • Well-Maintained; Pride of Ownership
  • Assumable 4.05% Financing Available
  • Beautiful Landscaped Common Area
  • All-Brick Exterior; Double-Paned Windows, Private Balconies
  • On-Site, Income-Producing Laundry Facility; Individual Storage Units
  • Strong Value-Add by Increasing Rents to Market and Adding RUBS
  • Short Walk to the Lakewood-Wadsworth Light Rail Station

Exclusively Listed By

Financing By

Multifamily

Zephyr Apartments

Listing Price: $4,600,000

Cap Rate
5.93%
Number of Units
22
GRM
11.33
Occupancy
98.0%
Price/Unit
$209,091

Investment Highlights

  • Well-Maintained; Pride of Ownership
  • Assumable 4.05% Financing Available
  • Beautiful Landscaped Common Area
  • All-Brick Exterior; Double-Paned Windows, Private Balconies
  • On-Site, Income-Producing Laundry Facility; Individual Storage Units
  • Strong Value-Add by Increasing Rents to Market and Adding RUBS
  • Short Walk to the Lakewood-Wadsworth Light Rail Station

Investment Overview

Built in 1970, The Zephyr is a well-maintained 22-unit apartment community in Lakewood, Colorado. It is located just a five-minute walk from the Lakewood- Wadsworth Light Rail Station, which provides access to downtown Denver, Golden, and the surrounding metropolitan area. These two all-brick, turn-key buildings consist of 20 two-bedroom units and two one-bedroom units. 16 of the 22 units have large private balconies. The property has had significant capital improvements over the last 10 years including parking lot replacement, roof replacement, newer windows, new balconies, boiler upgrades, and washers and dryers. Select units have upgraded kitchens and bathrooms with vinyl plank flooring. Each building has an on-site income producing laundry facility (property owned) as well as separate storage for each unit. Each building has secured entry to interior hallways with video surveillance throughout the property. This property is at the end of a quiet culde- sac and has plenty of parking for residents. Each unit is individually metered for electric paid directly by residents. The buildings are master metered for gas, water and sewer usage. These are not currently, but can be, billed back to residents as a value-add for a new owner.

Exclusively Listed By

Financing By

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