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Flats at 16th 7005 W 16th Pl 12 Unit Apartment Building $3,080,579 CAD ($256,715 CAD/Unit) 6.01% Cap Rate Lakewood, CO 80214
Investment Highlights
- Desirable growth location near Sloan’s Lake
- Attractive side-by-side layout with front & back doors
- Dedicated parking with guest parking spaces
- High end condo quality finishes with modern fixtures, flooring, and countertops
- Recent improvements include new roof, windows, landscaping, updated electrical, re-striped parking lot
Executive Summary
The Flats at 16th are 12 premium condos with high end finishes. The units are all 1Bd/1Ba with attractive side by side layouts, front & back doors, and nearly 2:1 off street parking. In addition to the renovated interiors, there have been many recent improvements including new roof, windows, landscaping, updated electrical, and re-striped parking lot. This location has been experiencing rapid growth with new development moving west from Sloan’s Lake as well as the walkable Wadsworth Light Rail Station.
For the right investor, this is a great opportunity to buy a clean deal in a rapidly growing neighborhood.
For the right investor, this is a great opportunity to buy a clean deal in a rapidly growing neighborhood.
Property Facts
| Price | $3,080,579 CAD | Building Class | C |
| Price Per Unit | $256,715 CAD | Lot Size | 0.61 AC |
| Sale Type | Investment | Building Size | 7,392 SF |
| Cap Rate | 6.01% | Average Occupancy | 100% |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1952 |
| Property Subtype | Apartment | Parking Ratio | 3.25/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | 5R | ||
| Price | $3,080,579 CAD |
| Price Per Unit | $256,715 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.61 AC |
| Building Size | 7,392 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built | 1952 |
| Parking Ratio | 3.25/1,000 SF |
| Zoning | 5R |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 600 - 616 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Limited public transit
30/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 39-354-01-140 | Improvements Assessment | $211,522 CAD |
| Land Assessment | $46,054 CAD | Total Assessment | $257,575 CAD |
Property Taxes
Parcel Number
39-354-01-140
Land Assessment
$46,054 CAD
Improvements Assessment
$211,522 CAD
Total Assessment
$257,575 CAD
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Flats at 16th | 7005 W 16th Pl
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