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Property profile & analytics
OFF-MARKET
Estimated value
$23,400,000
Residential income homes
6340 38th Ave Wheat Ridge, CO 80033-5001
Entity Owned
11-yr Hold
Free & Clear
Property ID
US13-0657099
Property profile
Verified
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Year built
1963
Construction
STEEL FRAME
Total area
99,458 SF
Lot
2.81 ac (122,540 SF)
APN
39-252-03-002
UPID
US13-0657099
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
$25.43M
Comparable Approach
Comparable
$31.12M
Blend (final)
Blend
$23.40M
Owner & transaction history
Highland West Lllp Lllp · 11 yrs held
Highland West Lllp Lllp
since 2015
1 recorded transaction
Zoning & alternative use
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$32.3M
+7.0%
Commercial (general)
$32.2M
+6.7%
Medical building
$30.2M
+0.1%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Wheat Ridge submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Wheat Ridge submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
$27,550,000
6.5%
$25,430,000
7%
$23,610,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$30,170,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$32,280,000
Change: +7% · Conversion: Difficult
COMMERCIAL (GENERAL)
$32,190,000
Change: +7% · Conversion: Moderate
MEDICAL BUILDING
$30,200,000
Change: +0% · Conversion: Moderate
Blend value · Realmo final
$23.40M
Range $21.06M – $25.74M · ±10%
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$235 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Assessed value
$2,037,658
Assessed 2023
Previous assessed
$2,037,658
+0.0% YoY
Assessed land
$164,204
Assessed improvement
$1,873,454
Land market value
$2,450,800
Improvement market value
$27,962,000
Total market value
$30,412,800
Applied tax rate
3,139.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Residential income homes
Use group
APARTMENT HOUSE (UNDER 5 UNITS)
Status
Off-Market
Year built
1963
Construction
STEEL FRAME
Heating
YES
Cooling
YES
Buildings
2
Stories
13
Units
1
Rooms
60
Bathrooms
1
Total area
99,458 SF
Lot
2.81 ac (122,540 SF)
APN
39-252-03-002
UPID
US13-0657099
Jurisdiction
JEFFERSON
Zoning & alternative use
Zoning · permitted uses
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$30.2M
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$32.3M
COMMERCIAL (GENERAL)
Est. value
$32.2M
MEDICAL BUILDING
Est. value
$30.2M
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
MEDICAL BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1963
Construction
STEEL FRAME
Heating
YES
Cooling
Yes
Stories
13
Buildings
2
Units
1
Rooms
60
Bathrooms
1
Lot
2.81 ac
Current owner
From public records · entity-resolved
Highland West Lllp Lllp
Entity
Free & Clear · 11 yrs held
Mailing address
6340 W 38TH AVE APT #100, WHEAT RIDGE, CO 80033-5005
Mailing matches property
Yes
Owner-occupied
Yes
Ownership since
2015
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
1 recorded event · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Feb 2, 2015
—
Highland West Lllp Lllp
United Presbyterian Assn
Grant Deed
—
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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