1628 Eaton St Lakewood, CO 80214

This exceptional investment opportunity presents a 5-unit multifamily property situated on a desirable .42-acre corner lot in Lakewood, Colorado's Edgewater/Sloan's Lake area. The property comprises a four-plex and a single-family home, offering a diverse income stream. The four-plex features two renovated 2-bedroom, 1-bathroom units and two 1-bedroom, 1-bathroom units, all with updated windows and electrical panels. Each unit boasts individual electric meters. A convenient on-site coin-operated laundry facility adds to the property's appeal. The single-family home, remodeled in 2020, offers 3 bedrooms, 2 bathrooms, a dedicated washer/dryer, an oversized garage, and a private backyard. Both buildings received new roofs in 2018. The property boasts a 6.23% cap rate and a pro-forma cap rate of 6.43%, with a current NOI of $85,700 and a pro-forma NOI of $88,457. Zoned R-MF, this property offers significant redevelopment potential. Its prime location provides easy access to Sloan's Lake Park, the vibrant Edgewater neighborhood, and the revitalized Colfax Avenue corridor, placing it within a 10-minute drive of downtown Denver. The asking price is $1,375,000, or $275,000 per unit. This turnkey investment offers strong cash flow potential and significant long-term appreciation in a thriving market. The property's features include off-street parking and generous outdoor space. Built in 1922 and renovated in 2024, this two-story, two-building complex offers a blend of modern updates and classic charm.