8150 26Th Ave Lakewood, CO 80214

This 19-unit apartment building, located at 8150 W 26th Ave in Lakewood, Colorado, presents a compelling investment opportunity. Built in 1969, the property boasts 18,763 square feet on a 0.83-acre lot and features mostly large, two-bedroom units. The asking price is $4,400,000, representing a price per square foot of $234.50 and a price per unit of $231,579. The property currently generates a Net Operating Income (NOI) of $270,726, resulting in a 6.15% cap rate. A pro-forma NOI of $277,523 projects a 6.31% cap rate. Significant recent improvements include a new roof, boiler, domestic hot water heater, and windows, along with upgraded plumbing and electrical systems. The property also benefits from ample parking and a large lot with potential for carports. A newly created access point off Balsam Street enhances accessibility. An attractive feature is a 3.1% assumable loan fixed until May 2031, offering a current cash-on-cash return of 10.77%. The property's proximity to the Gold's Marketplace redevelopment and Crown Hill Park/Lake open space adds to its appeal. Further value-add potential exists through the continuation of an interior renovation plan, allowing for rental upside. This property is classified as a Class C multifamily building in Jefferson County, zip code 80214.