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5350 Everett St Arvada, CO 80002

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For Sale
$7,100,000

54-unit apartment building in Arvada, near Olde Town.

Property size:
43,200 SF

Property Features for 5350 Everett St

General Information

Size
43,200 SF

Source: Josh Newell Agent Josh Newell

Displayed information is deemed reliable but is not guaranteed and should be independently verified.


Overview

Arvada Income Restricted Apartment Building

This 54-unit apartment building in Arvada, Colorado, presents a rare opportunity to acquire income-restricted housing. The property is located just one mile from Olde Town Arvada and a light rail station. A value-add opportunity exists to convert the remaining 33% of the property to Section 8 vouchers beginning in year 2. The property is priced below replacement cost at $131k per unit and $173 per square foot. A Land Use Restriction Agreement (LURA) runs with the property until June 2040. The property offers a 6.15% year 2 CAP Rate, noting that tenant rents cannot increase for 12 months after closing. The building has a total size of 43,200 square feet.
Location Intelligence

Current Use by Public Records

Parkview Village West ... Apartment Building Piff Bar Carts Vaporizer Store

Suggested Use

Law Firm Restaurant Realty agency Spa & Massage Dental Office Hair Salon Clothing Store Nail Salon Food Market Grocery Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

  • Map
  • Local Demand
City
Arvada
County
Jefferson
State
Colorado
Longitude
-105.0958185
Latitude
39.7933243

FAQs

What type of property is this?
Apartment building - 54-unit apartment building in Arvada, near Olde Town.
Where is this apartment building located?
The property is located at 5350 Everett St Arvada, CO.
What is the asking price?
The asking price for this property is $7,100,000.
What are key features of this property?
This property features: - Existing Cash Flow: Operating 54-unit apartment building.; - Prime Location: Situated just one mile from Olde Town Arvada and the Light Rail Station.; - High Year 2 CAP Rate: Projected 6.15% CAP Rate in Year 2.
More about this property
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