Multifamily
McKenzie Apartments
1375 Everett Ct, Lakewood, CO 80215
Listing Price: $4,920,000
Investment Overview
Marcus & Millichap is pleased to present the Lakewood Portfolio, a five-property, 157-unit collection in Lakewood, Colorado. Located just eight miles west of downtown Denver, Lakewood offers a desirable suburban lifestyle with convenient access to major employment hubs, including the tech, healthcare, and energy sectors. Lakewood's rental market benefits from strong demand driven by population growth, limited housing supply, and rising interest rates that have kept many potential homebuyers
in the rental market. Vacancy rates remain low, and rents continue to rise as residents seek affordability compared to downtown Denver. With limited new development due to zoning and land constraints, this trend is expected to persist. The five properties, built between 1959 and 1973, are within a three-mile radius, offering investors operational efficiencies and economies of scale. The portfolio boasts a strong unit mix, with 83% (130 units) featuring two- and three-bedroom floor plans—ideal for Lakewood’s renter demographic seeking more space at an attainable price. This well-maintained portfolio has undergone
recent renovations, allowing for immediate, turn-key operations. Investors also have the potential to enhance returns through a light value-add renovation program to further increase rents. Additional income opportunities include implementing a utility bill-back system, with potential top-line revenue increases of over $175K, and installing in-unit washers and dryers, which could generate an additional $75 per unit per month. Despite Denver’s recent inventory expansion, the Lakewood/West Denver submarket has remained resilient, with only a 1.4% inventory increase—66% lower than the metro average. This positioning ensures strong rent growth potential due to tight vacancies and limited future competition. The Lakewood Portfolio presents a rare opportunity to acquire a sizable, attainable housing collection in a high-performing submarket with significant upside potential.
McKenzie Apartments
Investment Highlights
- The Lakewood Portfolio offers investors access to immediate scale of attainable housing in top performing Denver Suburbs. The economies of scale provide investors the opportunity to reduce expenses.
- The key renter demographic in Lakewood seeks more space at an attainable rent level, with relative affordability being a primary demand driver in these submarkets.
- The Lakewood Portfolio is very well-maintained having received a variety of recent improvements and renovation allowing a buyer to immediately step into a perfectly positioned property portfolio.
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Investment Highlights
- The Lakewood Portfolio offers investors access to immediate scale of attainable housing in top performing Denver Suburbs. The economies of scale provide investors the opportunity to reduce expenses.
- The key renter demographic in Lakewood seeks more space at an attainable rent level, with relative affordability being a primary demand driver in these submarkets.
- The Lakewood Portfolio is very well-maintained having received a variety of recent improvements and renovation allowing a buyer to immediately step into a perfectly positioned property portfolio.
Investment Overview
Marcus & Millichap is pleased to present the Lakewood Portfolio, a five-property, 157-unit collection in Lakewood, Colorado. Located just eight miles west of downtown Denver, Lakewood offers a desirable suburban lifestyle with convenient access to major employment hubs, including the tech, healthcare, and energy sectors. Lakewood's rental market benefits from strong demand driven by population growth, limited housing supply, and rising interest rates that have kept many potential homebuyers in the rental market. Vacancy rates remain low, and rents continue to rise as residents seek affordability compared to downtown Denver. With limited new development due to zoning and land constraints, this trend is expected to persist. The five properties, built between 1959 and 1973, are within a three-mile radius, offering investors operational efficiencies and economies of scale. The portfolio boasts a strong unit mix, with 83% (130 units) featuring two- and three-bedroom floor plans—ideal for Lakewood’s renter demographic seeking more space at an attainable price. This well-maintained portfolio has undergone recent renovations, allowing for immediate, turn-key operations. Investors also have the potential to enhance returns through a light value-add renovation program to further increase rents. Additional income opportunities include implementing a utility bill-back system, with potential top-line revenue increases of over $175K, and installing in-unit washers and dryers, which could generate an additional $75 per unit per month. Despite Denver’s recent inventory expansion, the Lakewood/West Denver submarket has remained resilient, with only a 1.4% inventory increase—66% lower than the metro average. This positioning ensures strong rent growth potential due to tight vacancies and limited future competition. The Lakewood Portfolio presents a rare opportunity to acquire a sizable, attainable housing collection in a high-performing submarket with significant upside potential.
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