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    1628 Eaton St Lakewood, CO 80214

    Sponsored
    For Sale
    $1,375,000

    5-Unit Apartment Building, High ROI

    Property size:
    4,806 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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.

    Property Features for 1628 Eaton St

    General Information

    Property type
    Multifamily properties
    Square Feet
    4,806 SF
    Lot Size
    18,295 SF

    Building Details

    Year Built/Renovated
    1922/2024
    Buildings
    2
    Stories
    2
    Units
    5

    HighLights

    • Five‑unit property: four‑plex (two 2/1s, two 1/1s) plus a 3/2 single‑family home.
    • Offered at $1,375,000 ($275,000 per unit).
    • 5.6% cap rate provides strong cash flow.
    • Excellent Edgewater/Sloan's Lake location in high‑demand rental market.
    • Near Sloan's Lake Park.
    • R‑MF zoning on a 0.42‑acre lot allows for redevelopment.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    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
    Lakewood
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.05909395837
    Latitude
    39.742562637862

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    FAQs

    What type of property is this?
    Multifamily property - 5-Unit Apartment Building, High ROI
    Where is this multifamily property located?
    The property is located at 1628 Eaton St Lakewood, CO.
    What is the asking price?
    The asking price for this property is $1,375,000.
    What are key features of this property?
    This property features: Five-unit property: four-plex (two 2/1s, two 1/1s) plus a 3/2 single-family home.; Offered at $1,375,000 ($275,000 per unit).; 5.6% cap rate provides strong cash flow.
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    1628 Eaton St Lakewood, CO 80214
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