1320 Ammons St Lakewood, CO 80214
- Commercial real estate
- 12,932 SF
Current Use by Public Records
- Commercial real estate
Property Details for 1320 Ammons St
- Year built
- 1961
- Property size
- 12,932 SF
- Property type
- Commercial real estate
Description
This exceptional 14-unit apartment building, located at 1320 Ammons Street in Lakewood, Colorado, presents a compelling investment opportunity. The property, built in 1961 and boasting a Class B designation, offers a total of 12,932 square feet on a sizable 21,000 square foot lot. The building comprises a mix of five one-bedroom and nine two-bedroom units, each benefiting from recent upgrades. These renovations include updated cabinets, appliances, bathrooms, flooring, and electrical panels, minimizing deferred maintenance. The property's strong financial performance is reflected in its current NOI of $169,232 and a pro-forma NOI of $175,054, translating to a 6.10% cap rate and a pro-forma cap rate of 6.30%. The asking price is $2,795,000, or $199,643 per unit. Ample parking is provided with 21 off-street spaces. Its prime location directly on the "W" Light Rail Line offers convenient access to downtown Denver and I-70, both less than 10 minutes away. The property is zoned R-3. This well-maintained building presents a rare opportunity to acquire a stable, high-performing multifamily asset in a desirable location with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Lakewood
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.08729985
- Latitude
- 39.7369951
