2711 Harlan St Wheat Ridge, CO 80214
- Commercial real estate
- 4,650 SF
- 0.34 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 2711 Harlan St
- Year built
- 1958
- Lot size
- 0.34 lot acres
- Property size
- 4,650 SF
- Property type
- Commercial real estate
Description
This exceptional six-unit apartment building, located at 2711 N Harlan St in Wheat Ridge, Colorado (zip code 80214), presents a compelling investment opportunity. Built in 1958, this single-story property boasts 4,650 square feet situated on a 0.34-acre lot and is zoned R-3. The asking price is $1,275,000, translating to $212,500 per unit and $274.19 per square foot. The property currently generates a Net Operating Income (NOI) of $70,987, representing a 5.57% capitalization rate. A pro-forma NOI of $82,112 projects a 6.44% capitalization rate, indicating significant upside potential. The unit mix includes five two-bedroom units and one three-bedroom unit, each featuring updated kitchens, bathrooms, and flooring. Individual gas and electric meters, along with central air conditioning, enhance tenant comfort and efficiency. The property benefits from its convenient location near Sloan's Lake park and the Edgewater Market place, offering residents easy access to restaurants, bars, and national retailers. This value-add opportunity allows for rent stabilization with minimal capital expenditures, making it an attractive investment in a thriving Denver metro area experiencing strong rent growth due to corporate relocations.
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
- Wheat Ridge
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.0629883
- Latitude
- 39.7560049
