Investment Overview

1820, 1840, and 1860 Alpine Avenue is a 12-unit apartment community well-located in Boulder, Colorado. Boulder is one of the most sought after real estate markets in the country. Built in 1957, the offering consists of three contiguous well-maintained four-unit buildings with a great unit mix of one- and two-bedroom units. All of the units have been impeccably renovated recently with vinyl plank flooring throughout, newer windows and doors, new upgraded hardware/fixtures, updated bathrooms and kitchens with stainless steel appliances, high-end cabinets and countertops, plus each unit has its own private patio/ balcony. Five of the units are furnished yielding additional revenue for short- and long-term use. The one-bedroom units are located in buildings 1840 and 1860 and have in-unit washers and dryers. Building 1820 has all two-bedroom units with share laundry in the common area. Each unit is individually metered for gas and electricity, paid by tenants. There is one water meter for each building, paid by the owner. All buildings have secured entry to the units, updated common areas, private storage closets for each unit and a fire suppression system which adds additional protection and a reduced insurance cost. The buildings have a very low maintenance all-brick exterior, flat EPDM commercial-grade roof, a xeriscaped front yard for less maintenance and water usage. There are 15 off-street parking spaces located to the rear of the buildings. The lot's concrete was recently replaced, providing a cleaner look and improved drainage. Residents are walking distance to Pearl Street, Ideal Market, and many other shops and restaurants in the area.