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4629-4653 Otis St 13 Unit Apartment Building Offered at $3,698,217 CAD at a 5.92% Cap Rate Wheat Ridge, CO 80033
Investment Highlights
- Fully turn-key property with upside through under market rents and continued renovations
- Residential pocket of Wheat Ridge - Denver’s best submarket
- Large fenced front yard, fully renovated on-site laundry room, 22 off-street parking spots
- Updated mechanicals and all major cap ex throughout the property
- Masonry construction with modern upgraded exterior accents
- Great nearby by retail and only a short drive to the Highlands, 44th & Tennyson, and 15 minutes from Denver
Executive Summary
4629–4653 Otis St is a 13-unit multifamily property located in Wheat Ridge, a consistently stable rental submarket within the Denver metro. The asset is positioned in a residential neighborhood with strong access to major corridors and employment centers, supporting steady tenant demand and occupancy. The Property offers in-place cash flow with the ability to continue improving rents over time.
The Property has undergone a comprehensive renovation program. A majority of the units were taken down to the studs, while the remaining units have been fully upgraded, including new electrical and plumbing systems. Interior finishes include updated kitchens, bathrooms, flooring, and fixtures, providing a consistent unit product across the property. Capital improvements also include a newer roof and gutters, newer windows, and a boiler replaced approximately three years ago, eliminating near-term capital requirements.
Additional operational improvements include a fully renovated laundry facility and well-maintained common areas. The Wheat Ridge market continues to benefit from its proximity to Denver, accessibility, and limited new multifamily supply, supporting stable occupancy and rent growth. Overall, the Property represents a stabilized, renovated asset with significant operational and rental upside.
The Property has undergone a comprehensive renovation program. A majority of the units were taken down to the studs, while the remaining units have been fully upgraded, including new electrical and plumbing systems. Interior finishes include updated kitchens, bathrooms, flooring, and fixtures, providing a consistent unit product across the property. Capital improvements also include a newer roof and gutters, newer windows, and a boiler replaced approximately three years ago, eliminating near-term capital requirements.
Additional operational improvements include a fully renovated laundry facility and well-maintained common areas. The Wheat Ridge market continues to benefit from its proximity to Denver, accessibility, and limited new multifamily supply, supporting stable occupancy and rent growth. Overall, the Property represents a stabilized, renovated asset with significant operational and rental upside.
Financial Summary (Actual - 2025) Click Here to Access |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) Click Here to Access
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,698,217 CAD | Lot Size | 0.54 AC |
| Price Per Unit | $284,478 CAD | Building Size | 9,840 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 5.92% | Year Built/Renovated | 1960/2023 |
| No. Units | 13 | Parking Ratio | 2.24/1,000 SF |
| Property Type | Multifamily |
| Price | $3,698,217 CAD |
| Price Per Unit | $284,478 CAD |
| Sale Type | Investment |
| Cap Rate | 5.92% |
| No. Units | 13 |
| Property Type | Multifamily |
| Lot Size | 0.54 AC |
| Building Size | 9,840 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1960/2023 |
| Parking Ratio | 2.24/1,000 SF |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Ceiling Fans
- Yard
- Lawn
Site Amenities
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Pet Play Area
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | - | 650 |
| 2+1 | 9 | - | 750 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
20/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 39-242-11-003 | Total Assessment | $161,826 CAD |
| Land Assessment | $40,420 CAD | Annual Taxes | -$1 CAD ($0.00 CAD/SF) |
| Improvements Assessment | $121,406 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
39-242-11-003
Land Assessment
$40,420 CAD
Improvements Assessment
$121,406 CAD
Total Assessment
$161,826 CAD
Annual Taxes
-$1 CAD ($0.00 CAD/SF)
Tax Year
2025
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4629-4653 Otis St
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