Investment Overview

Marcus & Millichap is pleased to present Candlelight Apartments, a fully renovated 52-unit multifamily community located at 6985 Stuart Street in Westminster, Colorado. Built in 1971 and extensively modernized under current ownership, the property offers an attractive blend of updated interiors, significant building system upgrades, and a quiet courtyard setting within one of Denver’s most strategically positioned submarkets. Candlelight represents a rare opportunity to acquire a stabilized, turnkey asset with minimal deferred maintenance and strong regional connectivity to the northwest employment corridor. Candlelight Apartments features a desirable unit mix of 40 one-bedroom units and 12 two-bedroom units, meeting the robust demand for well-renovated workforce housing within the Westminster area. Each unit has been comprehensively updated with new countertops, cabinetry, white appliance packages, hard-surface vinyl flooring, new fixtures, new sinks, modernized bathrooms, and new air-conditioning units. The property’s central courtyard, mature landscaping, and walk-up design contribute to a comfortable, low-density residential feel that appeals to long-term renters. Current ownership has paired the interior renovation program with substantial capital investment into core building systems, dramatically reducing future capex exposure. Recent improvements include new boilers, hot water heaters, electrical panels, windows, and doors (all replaced within the last two to eight years) along with a 2018 roof replacement carrying a transferrable 20-year warranty. Plumbing updates and parking lot resurfacing completed in 2020 and 2025 further enhance operational reliability. With these improvements in place, incoming ownership can concentrate on operational efficiency and optional value-add initiatives rather than large scale repair work. As a turnkey, system-modernized community with strong renter appeal and a supply-constrained location, Candlelight Apartments provides new ownership with a compelling combination of stability, efficiency, and long-term growth potential. Additional upside remains through operational enhancements such as parcel lockers, upgraded outdoor recreation areas, reserved or covered parking, and a second level interior renovation program. With its comprehensive renovations, favorable location, and durable workforce housing demand, Candlelight Apartments stands out as an exceptional acquisition opportunity within the northwest Denver metro.