12778 West 31st Avenue

Wheat Ridge, CO 80215

$899,000
Price
8
Beds
4
Baths
3,584 Sq. Ft.
$251 / Sq. Ft.
3,584
Sq. Ft.
$251
per Sq. Ft.

Description

This is an excellent opportunity to own a brick 4-unit multifamily money-making machine. This property has a solid rental history earning over $7,000 a month in gross rents. The price has been reduced and is priced to sell. All major items like electrical pan-els, water heaters, plumbing fixtures, kitchen cabinetry and countertops have been re-placed during the span of ownership and the roof is estimated to have been replaced less than 10 years ago and is in good condition. Typical maintenance has...This is an excellent opportunity to own a brick 4-unit multifamily money-making machine. This property has a solid rental history earning over $7,000 a month in gross rents. The price has been reduced and is priced to sell. All major items like electrical pan-els, water heaters, plumbing fixtures, kitchen cabinetry and countertops have been re-placed during the span of ownership and the roof is estimated to have been replaced less than 10 years ago and is in good condition. Typical maintenance has been done, but just like any property of this age there are other items that may need attention. However, at this NEW PRICE and with the exceptional rental income it simply makes financial sense with a cap rate of over 7%. The property is located in the desirable Wheat Ridge area of town and its location leads to easy access to I-70 and all its connections east and west. Quick ac-cess to Denver, Downtown, and the mountains and close to transportation, groceries, eat-eries, banking and shopping centers. The dwellings are completely occupied, and the ten-ants are very happy. Each unit has a fenced yard, granite counters, and the 2 lower units have new cabinets. One upper-level unit has refinished cabinets. Tenants pay for the gas, electric & trash. There is off-street parking for all 4 units. 12780 has had the same tenant for 10 years & control of the attached garage and storage area. Whether you are a savvy investor seeking immediate returns or just beginning your quest for a real estate portfolio, this one is worth serious consideration. Showings require a 24-hour notice so set that showing now. Important to note: 3 out of the 4 leases are coming up for renewal starting in September so there is an opportunity to raise rents, remodel, or move into one of the units. As mentioned, this one is worth serious consideration and ENCOURAGE YOU COME SEE IT BEFORE ITS GONE, AS ALL OFFERS WILL BE CONSIDERED.
  1. Listed by Ed Bannias • HomeSmart • ed@finddenverhomes.com

Property Details for 12778 West 31st Avenue

Structure Type
Quadruplex
Architectural Style
Contemporary
Levels
One
Stories
1
Subdivision Name
Maple Grove
Association
No
Multiple Associations
No
Basement
Yes

Location

Listing Courtesy of HomeSmart, Ed Bannias
Add your commute
LISTING UPDATED: 05/17/2024 07:53 PM

Property Details for 12778 West 31st Avenue

StatusPending
MLS #2168665
Days on Compass58
Taxes$5,013 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.31 AC / 13,484 SF
CountyJefferson County

Location

Listing Courtesy of HomeSmart, Ed Bannias
Add your commute

Building Information for 12778 West 31st Avenue

Stories-Residences-Year Built1962Building Size-Lot Size0.31 AC / 13,484 SF

Payment Calculator

$5,324 per month

30 year fixed, 7.25% Interest

Principal and Interest

$4,906

Property Taxes

$418

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 12778 West 31st Avenue

Interior Area & SqFt
Interior Area & SqFt
  • Building Area Total (SqFt Total): 3584
  • Sqft Total: 3584
  • Living Area (SqFt Finished): 3584
  • Above Grade Finished Area: 1884
  • Living SqFt: 1884
  • Sq Ft Apx: 1700
  • Below Grade Unfinished Area: 0
  • Area Source: Public Records
  • PSF Total: 251
  • PSF Above Grade: 477
  • PSF Finished: 251
  • Master on Main: No
  • Basement: Finished
  • Heating: Forced Air
  • Cooling: None
  • Interior Features: Ceiling Fan(s), Eat-in Kitchen, High Speed Internet
  • Flooring: Carpet, Laminate, Tile, Vinyl, Wood
  • Appliances: Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator
Bed & Bath Summary
Bedrooms
  • Bedrooms Total: 8
Bathrooms
  • Bathrooms Total: 4
Parking
Parking
  • Parking Features: Concrete, Driveway-Dirt, Driveway-Gravel
  • Attached Garage: Yes
  • Parking Details: 2 Spaces/Unit
  • Parking Total: 2
  • Garage Spaces: 1
  • Offstreet Spaces: 7
  • Parking Count: 8
  • Carport Spaces: 0
  • Reserved Spaces: 0
  • RV Spaces: 0
Association Information
Association Information
  • Association Fee Total Annual: $0
  • Senior Community: No
Site & Location Information
School Information
  • Elementary School: Kullerstrand
  • Elementary School District: Jefferson County R-1
  • Middle Or Junior School: Everitt
  • Middle Or Junior School District: Jefferson County R-1
  • High School: Wheat Ridge
  • High School District: Jefferson County R-1
Site & Location Information
  • Lot Size Acres: 0
  • Lot Size Square Feet: 13484
  • Lot Features: Corner Lot, Level, Near Public Transit
  • Fencing: Full
  • Property Exclusions: Tenant personal property
Building Information
Outbuildings
  • Out Building Count: 0
  • Horse: No
Building Information
  • Construction Materials: Brick
  • Roof: Composition
  • Common Walls: End Unit
  • Exterior Features: Private Yard
  • Livable Structure Count: 0
  • Unit Count: 4
Water & Utilities
Water & Utilities
  • Water Source: Public
  • Utilities: Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected
  • Sewer: Public Sewer
  • Electric: Electric, Separate Meter Electricity

Property History for 12778 West 31st Avenue

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 12778 West 31st Avenue

Taxable ValueLand$18,095Additions$35,915Total$54,010
Tax Record2023$5,013 ($418 / month)
Home Facts
Total Finished SqFt3,584 SqFtAbove Grade Finished SqFt1,792 SqFtFinished Basement SqFt1,792 SqFtStories1Lot Size13,504 SqFtStyleMulti-Family Res (5+ Units)Year Built1962Year Renovated2015CountyJEFFERSONAPN39-293-11-001Fireplace TypeHas Fireplace

Schools near 12778 West 31st Avenue

This home is within Jefferson County R-1 School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Public - 6 to 8
Rating
School
Distance
Prospect Valley Elementary School
PublicK to 5

Everitt Middle School
Public6 to 8

Wheat Ridge High School
Public9 to 12

Manning Options School
Public6 to 8

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of HomeSmart, Ed Bannias

Based on information from one of the following Multiple Listing Services: REColorado, Summit MLS Inc (a wholly owned subsidiary of Summit Association of REALTORS), Pikes Peak Association of Realtors, IRES, Grand Junction Area REALTOR, CREN, Vail Board of REALTORS and Grand County Board of REALTORS . Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by REColorado, Summit MLS Inc (a wholly owned subsidiary of Summit Association of REALTORS), Pikes Peak Association of Realtors, IRES, Grand Junction Area REALTOR, CREN, Vail Board of REALTORS and Grand County Board of REALTORS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.