6700 Wadsworth Blvd Arvada, CO 80003
- Commercial real estate
- 29,590 SF
- 0.99 lot acres
Current Use by Public Records
- CreationsXChanel / Painter / Furniture Accessories
Property Details for 6700 Wadsworth Blvd
- Year built
- 1957
- Lot size
- 0.99 lot acres
- Property size
- 29,590 SF
- Property type
- Commercial real estate
Description
This exceptional 26-unit apartment building, known as Wadsworth Arms, presents a compelling investment opportunity in Arvada, Colorado. Located at 6700 Wadsworth Blvd, 80003, this Class C property boasts 29,590 square feet on a 0.99-acre lot and offers 36 parking spaces. Built in 1957, the building features 24 three-bedroom units, with the remaining two units also offering ample space. The current cap rate stands at 6.51%, with a pro-forma cap rate of 7.81%, reflecting the potential for increased profitability. The current Net Operating Income (NOI) is $434,844, projected to rise to $521,573. Recent capital improvements include a new roof, gutters, concrete replacement, and several updated furnaces and hot water heaters. Residents enjoy private patios and balconies. The property's prime location is just 1.5 miles from Olde Town Arvada and the light rail station, providing convenient access to downtown Denver and the mountains via I-70. Nearby amenities include major retail centers and employers such as Home Depot, Starbucks, Lowe's, and Costco. The asking price is $6,675,000, translating to $256,730.77 per unit and $225.58 per square foot. This is a ground lease-free property.
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
- Arvada
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.08082905584
- Latitude
- 39.819280299416
