Great multi-family investment portfolio opportunity. Two adjacent side-by-side duplexes on two lots totaling nearly 1/2 acre (zoned R-2). Each duplex has a unit with 2 bedrooms, a full bath and a half bath, and a unit with 2 bedrooms and 1 full bath. Meticulously maintained and professionally managed. All units have been updated with laminate flooring, and new/newer lighting and plumbing fixtures. All have new new siding and exterior paint. Roofs are 2013. New furnaces in 2016. Strong cash flow history, with potential to increase rents based on current market rents.
6452 is currently vacant and available for showings. This unit has been updated and can be rented for $1500/mo.
See listing on ReColorado here.
| Unit | Rent | Lease Term | Beds | Baths | SF | Notes |
| 6450 | $1375 | Thru 5/21 | 2 | 1.5 | 938 | Long term tenants. Updated in 2016. No photos available since unit has not turned. |
| 6452 | $1500 | Vacant | 2 | 1 | 938 | Vacant and available to show. New interior paint, new bathroom. Should rent for $1500+/mo. See photos. |
| 6470 | $1475 | Thru 2/21 | 2 | 1.5 | 938 | Updated 2020. See photos. Tenant will be vacating 2/28/21. |
| 6472 | $1350 | Thru 3/21 | 2 | 1 | 938 | Updated 2019. See photos. |
Rents have been increasing rapidly in the area. Similar units (example 1 and example 2) rent easily at $1500+/mo.
CAP Rate:
5.7% at current rents; 6.1% at market rents ($1500/door)
See proforma here.
Comps:
The addresses below are nearby almost identical duplexes. Same layout, style and floorplan but without the 1/2 bath.
- 7110 E 63rd Avenue – Sold 11/16/20 (6 DOM) for $500,000
- 6252 Pontiac Street – Sold 12/11/20 (0 DOM) for $440,000. Currently renting each side at $1500/mo.
