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Dover Gardens 8662-8682 W 51st Ave 12 Unit Apartment Building $3,735,153 CAD ($311,263 CAD/Unit) 6.01% Cap Rate Arvada, CO 80002
INVESTMENT HIGHLIGHTS
- 3 INDIVIDUALLY PARCELED FOUR-PLEX BUILDINGS
- NEW ELECTRICAL PANELS; NEWER WINDOWS AND SLIDING GLASS DOORS
- $100/UNIT IN RENT UPSIDE IN AS-IS CONDITION
- (12) 2BR/1BA TOWNHOME STYLE UNITS WITH INDIVIDUAL BACK PATIOS
- 8 OUT OF 12 UNITS HAVE BEEN RENOVATED
- LOW HISTORIC VACANCY
EXECUTIVE SUMMARY
This offering presents a rare opportunity to acquire three well-maintained four-plex buildings in Arvada, Colorado — an established and growing submarket within the Denver Metro area. With current rents below market, there is significant upside potential through rent optimization and value-add strategies. The property consistently attracts long-term tenants due to its strong curb appeal, excellent upkeep, desirable location, and overall affordability. It is well-positioned for investors seeking stable cash flow and long-term appreciation in a high-demand rental market. Each of the twelve townhome-style units features private fenced patios, access to a central laundry facility, and recent interior updates. Situated on over an acre of land, the property offers ample off-street parking and expansive landscaped grounds, including large grassy common areas. Ideally located near parks, trails, shopping centers, and vibrant Old Town Arvada, this asset is a strategic addition to any investment portfolio.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$326,701
|
$29.21
|
| Other Income |
$20,004
|
$1.79
|
| Vacancy Loss |
$16,335
|
$1.46
|
| Effective Gross Income |
$330,370
|
$29.54
|
| Taxes |
$16,812
|
$1.50
|
| Operating Expenses |
$89,038
|
$7.96
|
| Total Expenses |
$105,850
|
$9.46
|
| Net Operating Income |
$224,520
|
$20.08
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $326,701 |
| Annual Per SF | $29.21 |
| Other Income (CAD) | |
|---|---|
| Annual | $20,004 |
| Annual Per SF | $1.79 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $16,335 |
| Annual Per SF | $1.46 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $330,370 |
| Annual Per SF | $29.54 |
| Taxes (CAD) | |
|---|---|
| Annual | $16,812 |
| Annual Per SF | $1.50 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $89,038 |
| Annual Per SF | $7.96 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $105,850 |
| Annual Per SF | $9.46 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $224,520 |
| Annual Per SF | $20.08 |
PROPERTY FACTS
| Price | $3,735,153 CAD | Building Class | C |
| Price Per Unit | $311,263 CAD | Lot Size | 1.00 AC |
| Sale Type | Investment | Building Size | 11,184 SF |
| Cap Rate | 6.01% | Average Occupancy | 95% |
| Sale Condition | 1031 Exchange | No. Stories | 2 |
| No. Units | 12 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.61/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome | ||
| Zoning | R-3, Jefferson | ||
| Price | $3,735,153 CAD |
| Price Per Unit | $311,263 CAD |
| Sale Type | Investment |
| Cap Rate | 6.01% |
| Sale Condition | 1031 Exchange |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 1.00 AC |
| Building Size | 11,184 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.61/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | R-3, Jefferson |
AMENITIES
- Smoke Detector
UNIT AMENITIES
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Heating
- Ceiling Fans
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Sprinkler System
- Tub/Shower
- Carpet
- Yard
- Double Pane Windows
- Handrails
- Lawn
- Patio
- Window Coverings
- Quartz Countertops
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Recycling
- Trash Pickup - Curbside
- Bicycle Storage
- Private Bathroom
- Fiber Optic Internet
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 2+1 | 12 | $2,345 CAD | 890 - 900 |
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PROPERTY TAXES
| Parcel Number | 39-154-04-141 | Total Assessment | $57,013 CAD |
| Land Assessment | $19,969 CAD | Annual Taxes | $16,812 CAD ($1.50 CAD/SF) |
| Improvements Assessment | $37,044 CAD | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
39-154-04-141
Land Assessment
$19,969 CAD
Improvements Assessment
$37,044 CAD
Total Assessment
$57,013 CAD
Annual Taxes
$16,812 CAD ($1.50 CAD/SF)
Tax Year
2024
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Dover Gardens | 8662-8682 W 51st Ave
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