7250 Newton St Westminster, CO 80030

Property Details for 7250 Newton St

Year built

1961

Property size

23,364 SF

Property type

Commercial real estate

APN

1719-31-4-17-003; 1719-31-4-17-025

Description

Westminster Court Apartments presents a compelling value-add investment opportunity in Westminster, Colorado. This 33-unit apartment community, built in 1961, comprises three two-story buildings totaling 23,364 square feet on a 43,124 square foot lot. The property boasts a 97% occupancy rate (as of October 25, 2024), generating a current NOI of $428,302 and a pro-forma NOI of $431,634, resulting in a 6.59% cap rate and a pro-forma cap rate of 6.64%. The asking price is $6,500,000, translating to $196,970 per unit and $278.21 per square foot. The unit mix includes 18 two-bedroom units (approximately 700 sq ft each) and 15 one-bedroom units (approximately 600 sq ft each). Amenities include 29 off-street parking spaces, separate laundry facilities in each building, and additional storage. Many units feature updated kitchens and bathrooms, newer appliances, and newer carpeting and vinyl flooring. Second-floor units are equipped with air conditioning. The property benefits from a low-maintenance exterior, newer pitched asphalt shingle roofs, and a central gas-fired hot water boiler system. The location offers convenient access to major transportation routes, including US-36 and I-25, and is less than a mile from the Northwest commuter rail "B-line" station. The property is zoned for Westminster and features mature landscaping with an automatic sprinkler system. This well-maintained complex offers significant potential for increased profitability through further value-add improvements. The land value alone is $156.50 per square foot.