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Multifamily

Orchard Flats

1975 Oak St, Lakewood, CO 80215

Listing Price: Request For Offer

Number of Units
42
Occupancy
98.0%
Gross SF
35,703

Investment Overview

Marcus & Millichap is pleased to present Orchard Flats, a 42-unit multifamily community located at 1975 Oak Street in Lakewood, Colorado. Situated in the highly desirable West Denver submarket, Orchard Flats offers residents convenient access to both Downtown Denver and the Rocky Mountain foothills, providing an attractive combination of employment accessibility, urban amenities, and outdoor recreation.

Originally constructed in 1973, the property is situated on approximately 2.44 acres and features a diversified unit mix of 15 one-bedroom, 22 two-bedroom, and five three-bedroom residences. The floor plans average approximately 595, 875, and 1,195 square feet, respectively, providing a broad range of offerings for Denver-area renters. The property offers a low-density residential setting, with just 42 units spread across 2.44 acres, providing a more spacious community environment than the higher-density development characteristic of many infill locations throughout Metro Denver. The combination of spacious floor plans, a diversified unit mix, and low-density setting creates an attractive offering for renters seeking both convenience and livability.

Orchard Flats benefits from a strategic West Denver location with convenient connectivity to the region’s major employment centers and transportation network. The property is located less than three miles from Interstate 70, providing direct access to Downtown Denver as well as Colorado’s renowned mountain communities and recreational destinations. Its location near the base of the Rocky Mountain foothills offers residents convenient access to skiing, hiking, mountain biking, fishing, and other outdoor amenities, while maintaining proximity to the employment and lifestyle offerings of the Denver metropolitan area.

Investment Highlights

  • 42 units on 2.44 acres with 813 SF average floor plans, including scarce three-bedroom units averaging 1,195 SF.
  • Strategic Lakewood location near Downtown Denver, major employment centers and the foothills, with I-70 less than three miles away.
  • Approximately 97% occupied with just one vacant unit and virtually no bad debt, providing immediate in-place cash flow.
  • 21.5% projected NOI growth by Year 3, driven primarily by concession burn-off and organic rent growth without relying on renovation premium
  • Existing Freddie Mac loan offers a 3.80% current rate, ±$6.26M balance, 30-year amortization and no prepayment penalty for a sale or Freddie refinance.

Exclusively Listed By

Multifamily

Orchard Flats

Listing Price: Request For Offer

Number of Units
42
Occupancy
98.0%
Gross SF
35,703

Investment Highlights

  • 42 units on 2.44 acres with 813 SF average floor plans, including scarce three-bedroom units averaging 1,195 SF.
  • Strategic Lakewood location near Downtown Denver, major employment centers and the foothills, with I-70 less than three miles away.
  • Approximately 97% occupied with just one vacant unit and virtually no bad debt, providing immediate in-place cash flow.
  • 21.5% projected NOI growth by Year 3, driven primarily by concession burn-off and organic rent growth without relying on renovation premium
  • Existing Freddie Mac loan offers a 3.80% current rate, ±$6.26M balance, 30-year amortization and no prepayment penalty for a sale or Freddie refinance.

Investment Overview

Marcus & Millichap is pleased to present Orchard Flats, a 42-unit multifamily community located at 1975 Oak Street in Lakewood, Colorado. Situated in the highly desirable West Denver submarket, Orchard Flats offers residents convenient access to both Downtown Denver and the Rocky Mountain foothills, providing an attractive combination of employment accessibility, urban amenities, and outdoor recreation. Originally constructed in 1973, the property is situated on approximately 2.44 acres and features a diversified unit mix of 15 one-bedroom, 22 two-bedroom, and five three-bedroom residences. The floor plans average approximately 595, 875, and 1,195 square feet, respectively, providing a broad range of offerings for Denver-area renters. The property offers a low-density residential setting, with just 42 units spread across 2.44 acres, providing a more spacious community environment than the higher-density development characteristic of many infill locations throughout Metro Denver. The combination of spacious floor plans, a diversified unit mix, and low-density setting creates an attractive offering for renters seeking both convenience and livability. Orchard Flats benefits from a strategic West Denver location with convenient connectivity to the region’s major employment centers and transportation network. The property is located less than three miles from Interstate 70, providing direct access to Downtown Denver as well as Colorado’s renowned mountain communities and recreational destinations. Its location near the base of the Rocky Mountain foothills offers residents convenient access to skiing, hiking, mountain biking, fishing, and other outdoor amenities, while maintaining proximity to the employment and lifestyle offerings of the Denver metropolitan area.

Exclusively Listed By

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