12778 West 31st Avenue
12778 West 31st Avenue
$899,000
8
4
3,584
3,584
$251
Pending
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.
- Listed by Ed Bannias • HomeSmart • ed@finddenverhomes.com
Property Details for 12778 West 31st Avenue
Structure Type
Quadruplex
Architectural StyleContemporary
LevelsOne
Stories1
Subdivision NameMaple Grove
AssociationNo
Multiple AssociationsNo
BasementYes
Location
LISTING UPDATED: 05/17/2024 07:53 PM
Property Details for 12778 West 31st Avenue
Status | Pending |
---|---|
MLS # | 2168665 |
Days on Compass | 58 |
Taxes | $5,013 / year |
HOA Fees | - |
Condo/Co-op Fees | - |
Compass Type | Multi Family |
MLS Type | Residential Income |
Year Built | 1962 |
Lot Size | 0.31 AC / 13,484 SF |
County | Jefferson County |
Location
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
The Payment Calculator is for illustrative purposes only.
Property Information for 12778 West 31st Avenue
Property History for 12778 West 31st Avenue
Date | Event & Source | Price | Appreciation |
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Date | Event & Source | Price |
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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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