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Multifamily

3944 Turnpike Drive

3944 Turnpike Dr, Westminster, CO 80030

Listing Price: $1,100,000

Cap Rate
5.41%
Number of Units
6
GRM
13.63
Occupancy
100.0%
Price/Unit
$183,333
Price/Gross SF
$282.05
Gross SF
3,900

Investment Overview

The 3944 Turnpike Drive Apartments are a six-unit multifamily property located in Westminster, Colorado. This apartment complex combines spacious floor plans with ample parking. The 3944 Turnpike Drive Apartments feature one (1) studio/one-bath unit, two (2) one-bed/one bath units, and three (3) two-bed/one bath units. Two units have been renovated within the last year in order to show that a premium can be achieved on renovated units. This gives new ownership the opportunity to renovate the remaining four units and achieve higher market rents. This property features multiple popular amenities including front & back entrances to five of the six units, four units feature manicured backyards, internet access, and cable ready units.

Constructed in 1962, 3944 Turnpike Drive Apartments features a new roof, matting, and a new boiler. This property offers an excellent value add opportunity with great upside.

Investment Highlights

  • New Roof, New Roof Matting, and new Boiler
  • Font and Back Entrances in Five of Six Units
  • Four Units Feature Manicured Backyards

Exclusively Listed By

Listing Price: $1,100,000

Cap Rate
5.41%
Number of Units
6
GRM
13.63
Occupancy
100.0%
Price/Unit
$183,333
Price/Gross SF
$282.05
Gross SF
3,900

Investment Highlights

  • New Roof, New Roof Matting, and new Boiler
  • Font and Back Entrances in Five of Six Units
  • Four Units Feature Manicured Backyards

Investment Overview

The 3944 Turnpike Drive Apartments are a six-unit multifamily property located in Westminster, Colorado. This apartment complex combines spacious floor plans with ample parking. The 3944 Turnpike Drive Apartments feature one (1) studio/one-bath unit, two (2) one-bed/one bath units, and three (3) two-bed/one bath units. Two units have been renovated within the last year in order to show that a premium can be achieved on renovated units. This gives new ownership the opportunity to renovate the remaining four units and achieve higher market rents. This property features multiple popular amenities including front & back entrances to five of the six units, four units feature manicured backyards, internet access, and cable ready units.

Constructed in 1962, 3944 Turnpike Drive Apartments features a new roof, matting, and a new boiler. This property offers an excellent value add opportunity with great upside.

Exclusively Listed By

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