403 23Rd Ave Golden, CO 80401

Property Details for 403 23Rd Ave

Year built

1929

Lot size

0.60 lot acres

Property size

6,220 SF

Property type

Multifamily properties

Description

This exceptional 11-unit multifamily property, situated on a 0.6-acre lot (26,250 square feet) at 403 23rd Street in Golden, Colorado, presents a compelling investment opportunity. The complex comprises three buildings: a 5-plex, a 4-plex, and a duplex, offering a mix of unit sizes to cater to diverse tenant needs. Specifically, the property includes three 2-bedroom/1-bathroom units and eight 1-bedroom/1-bathroom units. Currently boasting near-zero vacancy and low turnover, this property benefits from a stable and desirable tenant base primarily consisting of young professionals employed in Golden and students from the nearby Colorado School of Mines. All units have undergone updates, with six receiving full renovations. Furthermore, new roofs were installed in 2018, minimizing future maintenance concerns. The property's prime location offers convenient access to amenities, situated just one block from Natural Grocers and a short 10-minute walk from the Colorado School of Mines campus. Its proximity to the Coors redevelopment project at Clayworks, a significant development adding 1.2 million square feet of office, residential, hotel, and retail space, promises future appreciation potential. An attractive feature is the availability of assumable financing at a 4.2% interest rate for an additional six years, making this an even more financially appealing investment. This well-maintained, high-occupancy property represents a rare opportunity to acquire a stable and growing income stream in a thriving Colorado community. The 6,220 square foot complex offers a strong return on investment with its current high occupancy and low turnover rates.

Location Insight

City

Golden

County

Jefferson

State

Colorado

Longitude

-105.209

Latitude

39.7485