Wheat Ridge, CO 80215,12778 W 31st AVE
Wheat Ridge, CO 80215,12778 W 31st AVE
Wheat Ridge, CO 80215,12778 W 31st AVE
$875,000
Est. payment /mo
$899,000
2.7%
Est.Price: ?

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8 Beds
4 Baths
3,584 SqFt
SOLD DATE : 07/31/2024

Key Details

Sold Price $875,000

Property Type Multi-Family

Sub Type Quadplex

Listing Status Sold

Purchase Type For Sale

Square Footage 3,584 sqft

Price per Sqft $244

Subdivision Maple Grove

MLS Listing ID 2168665

Sold Date 07/31/24

Style Contemporary

Bedrooms 8

HOA Y/N No

Abv Grd Liv Area 1,884

Originating Board recolorado

Year Built 1962

Annual Tax Amount $5,013

Tax Year 2023

Lot Size 0.310 Acres

Acres 0.31

Property Description

This is an excellent opportunity to own a brick 4-unit multifamily money-making machine. This property has a solid rental history earning over $7,000 a month in gross rents. THE PRICE HAS BEEN REDUCED AND IS PRICED TO SELL. All major items like electrical pan-els, water heaters, plumbing fixtures, kitchen cabinetry and countertops have been re-placed during the span of ownership and the roof is estimated to have been replaced less than 10 years ago and is in good condition. Typical maintenance has been done, but just like any property of this age there are other items that may need attention. However, at this NEW PRICE and with the exceptional rental income it simply makes financial sense with a cap rate of over 7%. The property is located in the desirable Wheat Ridge area of town and its location leads to easy access to I-70 and all its connections east and west. Quick ac-cess to Denver, Downtown, and the mountains and close to transportation, groceries, eat-eries, banking and shopping centers. The dwellings are completely occupied, and the ten-ants are very happy. Each unit has a fenced yard, granite counters, and the 2 lower units have new cabinets. One upper-level unit has refinished cabinets. Tenants pay for the gas, electric & trash. There is off-street parking for all 4 units. 12780 has had the same tenant for 10 years & control of the attached garage and storage area. Whether you are a savvy investor seeking immediate returns or just beginning your quest for a real estate portfolio, this one is worth serious consideration. Showings require a 24-hour notice so set that showing now. Important to note: 3 out of the 4 leases are coming up for renewal starting in September so there is an opportunity to raise rents, remodel, or move into one of the units. As mentioned, this one is worth serious consideration and ENCOURAGE YOU COME SEE IT BEFORE ITS GONE, AS ALL OFFERS WILL BE CONSIDERED.

Location

State CO

County Jefferson

Rooms

Basement Finished

Interior

Interior Features Ceiling Fan(s), Eat-in Kitchen, High Speed Internet

Heating Forced Air

Cooling None

Flooring Carpet, Laminate, Tile, Vinyl, Wood

Fireplace N

Appliance Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator

Exterior

Exterior Feature Private Yard

Parking Features Concrete, Driveway-Dirt, Driveway-Gravel

Garage Spaces 1.0

Fence Full

Utilities Available Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected

Roof Type Composition

Total Parking Spaces 8

Garage Yes

Building

Lot Description Corner Lot, Level, Near Public Transit

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Brick

Schools

Elementary Schools Kullerstrand

Middle Schools Everitt

High Schools Wheat Ridge

School District Jefferson County R-1

Others

Senior Community No

Ownership Corporation/Trust

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

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REColorado (REColorado MLS)
Listed by HomeSmart • ed@finddenverhomes.com
Bought with JPAR - Platinum

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Bonnie Schwam

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