3950 Turnpike Dr Westminster, CO 80030
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9-Unit Apartment Building, High NOI
Property size:
6,570 SFProperty Features for 3950 Turnpike Dr
General Information
- Property type
- Multifamily properties
- Square Feet
- 6,570 SF
- Lot Size
- 14,723 SF
Building Details
- Year Built
- 1962
- Buildings
- 1
- Stories
- 3
- Units
- 9
Listing Agency: KAUFMAN HAGAN Listing Agent: Teal Nipp Hagan
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
This exceptional 9-unit apartment building at 3950 Turnpike Dr, Westminster, CO 80030, presents a compelling investment opportunity. The property, built in 1962, features 6,570 square feet on a 0.338-acre lot and boasts a 100% occupancy rate, generating a strong NOI of $108,343 (with a pro-forma NOI of $116,866). The asking price is $1,650,000, translating to $183,333 per unit and a current cap rate of 6.57% (pro-forma 7.08%). The building comprises three stories and includes 13 parking spaces (tandem). Recent renovations significantly enhance the property's value and reduce maintenance needs. These upgrades include new furnaces, a pitched roof, exterior paint, railings, stringers, stairs, and walkways—all fully permitted by the City of Westminster. The units, primarily two-bedroom, one-bathroom layouts, are individually metered for gas and electric, featuring in-unit water heaters and recently replaced gas furnaces. Residents enjoy a spacious courtyard setting. The property's concrete brick construction and pitched roof further contribute to its long-term appeal. Located in Adams County, this multifamily investment offers a blend of strong current performance and significant upside potential. The permitted zoning is Multi-Family.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Commercial real estate
Location Insight
- Map
- Local Demand
- City
- Westminster
- County
- Adams
- State
- Colorado
- Longitude
- -105.03939036
- Latitude
- 39.84149378
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FAQs
What type of property is this?
Multifamily property - 9-Unit Apartment Building, High NOI
Where is this multifamily property located?
The property is located at 3950 Turnpike Dr Westminster, CO.
What is the asking price?
The asking price for this property is $1,650,000.
What are key features of this property?
This property features: 9-unit apartment building in Westminster, CO, offering a strong investment opportunity.; Recently renovated with new furnaces, roof, exterior paint, stairs, railings, stringers, and walkways (all permitted).; Park-like courtyard setting.
