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Grove Gardens 3076 W 71st Way 36 Unit Apartment Building $7,492,314 CAD ($208,120 CAD/Unit) 6.81% Cap Rate Westminster, CO 80030
Investment Highlights
- $680,000 Price Reduction!!
- Priced Well Below Comparable Properties at Just $170k/Unit
- Short Walk to Major Planned Developments: Northgate Center (Directly Across Street) and Sherman Redevelopment (1/4 Mile South)
- 6.81% Current CAP Rate!!
- All 2Bd/1Ba Units on Large, 1 Acre Lot
- Favorable SPD Zoning (Specific Plan District) Allows for Multiple Future Redevelopment Options
Executive Summary
MASSIVE PRICE REDUCTION! 36-Units in Westminster, CO; 7.01% Current CAP Rate!
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$823,881
|
$30.11
|
| Other Income |
$7,101
|
$0.26
|
| Vacancy Loss |
$41,549
|
$1.52
|
| Effective Gross Income |
$789,432
|
$28.85
|
| Taxes |
$52,957
|
$1.94
|
| Operating Expenses |
$226,358
|
$8.27
|
| Total Expenses |
$279,315
|
$10.21
|
| Net Operating Income |
$510,117
|
$18.64
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $823,881 |
| Annual Per SF | $30.11 |
| Other Income (CAD) | |
|---|---|
| Annual | $7,101 |
| Annual Per SF | $0.26 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $41,549 |
| Annual Per SF | $1.52 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $789,432 |
| Annual Per SF | $28.85 |
| Taxes (CAD) | |
|---|---|
| Annual | $52,957 |
| Annual Per SF | $1.94 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $226,358 |
| Annual Per SF | $8.27 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $279,315 |
| Annual Per SF | $10.21 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $510,117 |
| Annual Per SF | $18.64 |
Property Facts
| Price | $7,492,314 CAD | Building Class | C |
| Price Per Unit | $208,120 CAD | Lot Size | 1.05 AC |
| Sale Type | Investment | Building Size | 27,938 SF |
| Cap Rate | 6.81% | No. Stories | 2 |
| No. Units | 36 | Year Built | 1962 |
| Property Type | Multifamily | Parking Ratio | 1.5/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $7,492,314 CAD |
| Price Per Unit | $208,120 CAD |
| Sale Type | Investment |
| Cap Rate | 6.81% |
| No. Units | 36 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.05 AC |
| Building Size | 27,938 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 1.5/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3 |
Amenities
Unit Amenities
- Heating
- Kitchen
- Range
- Handrails
Site Amenities
- Laundry Facilities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 36 | $1,946 CAD | 767 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Number | 1825-05-2-01-024 | Total Assessment | $499,529 CAD |
| Land Assessment | $34,476 CAD | Annual Taxes | $52,957 CAD ($1.90 CAD/SF) |
| Improvements Assessment | $465,053 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
1825-05-2-01-024
Land Assessment
$34,476 CAD
Improvements Assessment
$465,053 CAD
Total Assessment
$499,529 CAD
Annual Taxes
$52,957 CAD ($1.90 CAD/SF)
Tax Year
2025
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Grove Gardens | 3076 W 71st Way
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