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    7655 67Th Ave Arvada, CO 80004

    Sponsored
    For Sale
    $14,000,000

    70-unit multifamily, high ROI potential.

    Property size:
    55,204 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    Exceptional investment opportunity: Cinnamon Ridge Apartments, a 70-unit apartment building in Arvada, Colorado, is offered at $14,000,000. This four-story, 55,204 square foot building sits on a 68,825 square foot lot and boasts a strong 5.57% cap rate, with a pro-forma cap rate of 7.56%. The property features a mix of studio, one-bedroom, and two-bedroom units, with a potential 70th unit conversion from the existing leasing office. Built in 1967, Cinnamon Ridge has undergone significant recent upgrades, including a new roof, energy-efficient windows, an updated boiler, and modern electrical panels. The current NOI is $780,000, with a pro-forma NOI of $1,077,894, reflecting the potential for increased rental income. Additional features include an elevator and solar panels. The property's prime location in Arvada offers residents easy access to amenities, parks, shopping, and dining, while the strong local market presents significant growth potential. The unit mix includes 1 studio, 22 one-bedroom, and 46 two-bedroom apartments, offering a diverse tenant base. The current price per unit is $200,000, and the price per square foot is $253.60. This well-maintained property presents a compelling investment opportunity with a clear path to maximizing rental income.

    Property Features for 7655 67Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    55,204 SF

    Building Details

    Year Built
    1967
    Buildings
    1
    Stories
    4
    Units
    70

    HighLights

    • Twin T construction.
    • Excellent unit mix featuring spacious floor plans.
    • Equipped with an elevator.
    • Features solar panels.
    • Major systems recently upgraded.
    • Significant rental upside potential.
    Property Profile Location Intelligence

    Current Use by Public Records

    Cinnamon Ridge Apartments Apartment Building

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

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

    Location Insight

    • Map
    • Local Demand
    City
    Arvada
    County
    Jefferson
    State
    Colorado
    Longitude
    -105.08253109161
    Latitude
    39.818334554657

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    FAQs

    What type of property is this?
    Multifamily property - 70-unit multifamily, high ROI potential.
    Where is this multifamily property located?
    The property is located at 7655 67Th Ave Arvada, CO.
    What is the asking price?
    The asking price for this property is $14,000,000.
    What are key features of this property?
    This property features: Twin T construction.; Excellent unit mix featuring spacious floor plans.; Equipped with an elevator.
    Request Owner's contact information
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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
    7655 67Th Ave Arvada, CO 80004
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