VALUE-ADD OPPORTUNITY, UNDER $80,000 PER UNIT, 23-unit multifamily community in Fort Lupton, five miles north of Brighton and 30 minutes north of downtown Denver. Located on the northern end of downtown Fort Lupton, the property consists of 12 apartment units and 11 mobile homes. The Property sits on a large 1.81-acre parcel that encompasses an entire city block. The main portion of the property was constructed in 1930, with later additions. The 12 apartment units have a great unit mix of studios and one- and two-bedroom units. A three-bedroom house with a two-car garage and private backyard is also located on-site. All units are single story, have front and rear entrances, and offer full kitchens and bathrooms. The apartments are master metered for gas, electricity, water, and sewer, which is currently paid by the owner. Ideally, a utility bill-back system should be implemented. The 11 mobile homes have a mix of one- and two-bedroom units. All residents are responsible for paying their own gas and electric usage, and all homes are connected to city water and sewer. This is a strong value-add opportunity for a buyer seeking to increase rents by rehabbing the apartments and mobile homes. Fort Lupton is a growing town with minimal multifamily vacancy.
Full Property Details
Full Property Details for 931 Denver Ave
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Taxes: $4,972 (2020)
MLS ID: 8785800
Added: 37 day(s) ago
Total Spaces: 40
Pets Allowed: Yes
Sewer: Public Sewer
Structure Type: Low Rise (1-3)
Square Feet: 13,200
Current Bldg. Use: Multi-Family
Year Built: 1930
Unit Description: 1 Bedroom
Unit Description: 2 Bedroom
Unit Description: 3 Bedroom
Unit Description: Studio
Lot Size (Acres): 1.81
Lot Size (Sq. Ft.): 78,843
Operating Expenses: Accounting, Advertising, Insurance, Maintenance, Personal Property Tax, Professional Management, Real Estate Tax, Staff, Utilities
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931 Denver Avenue, Fort Lupton, CO 80621 (MLS# 8785800) is a
931 Denver Avenue is currently listed for $1,750,000 and was received on October 22, 2021.
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