Current Use by Public Records
- Apartment buildings
Property Details for 66 Garden Ctr
- Year built
- 1971
- Property type
- Apartment buildings
Description
This exceptional 38-unit apartment building in Broomfield, Colorado, presents a compelling investment opportunity. Built in 1971, this three-story property boasts 23,871 square feet, with 19,710 square feet of net rentable space. The building features a unique design, with each of the thirty-two one-bedroom and six two-bedroom units offering direct exterior access to a central courtyard, eliminating the need for common hallways. The property includes a fitness center and swimming pool, enhancing its appeal to residents. Meticulously maintained grounds with mature landscaping further contribute to the property's desirability. Located off the Denver Boulder Turnpike, residents enjoy convenient access to both Denver and Boulder. The current NOI is $407,135, with a pro-forma NOI of $489,407, representing a 4.76% cap rate and a pro-forma cap rate of 5.72%, respectively. The asking price is $8,550,000, or $225,000 per unit. The property is zoned B-1. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a prime location.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Broomfield
- County
- Broomfield
- State
- Colorado
- Longitude
- -105.09
- Latitude
- 39.9244
