Description
Exceptional, highly sought-after investment opportunity in the heart of Boulder! Meticulously maintained, updated income property with a proven track record of steady rental history & consistent year-over-year rent growth. This unique gem boasts outstanding annual appreciation. Less than 1 mile to the prestigious CU's Main and East Campuses, this prime location attracts quality tenants seeking convenience and an unparalleled Boulder lifestyle. Surrounded by a plethora of amenities and desirable attractions (29th Street Mall, Chautauqua Park). This four-unit, eight-bedroom rental property has consistent cash flow with a Current cap rate of 5.2 on an NOI of $97,000, with room to raise rents rents during fall pre-leasing this year and improve cash flow. Stainless steel appliances, energy efficient windows, central air conditioning. Six off-street parking spaces, bike rack, and four lockable storage units in the back of the building. Onsite coin-operated laundry. Centrally located to bus lines, grocery stores, Target, and Whole Foods. Pre-leased for Aug 2023-2024 school year. Contact about a lease buyout for CU parent/student buyers. Possible owner carry option.
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8BEDS
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0.16ACRES
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5BATHS
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01/2 BATHS
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2,591SQFT
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$666$/SQFT
School Information
Description
Exceptional, highly sought-after investment opportunity in the heart of Boulder! Meticulously maintained, updated income property with a proven track record of steady rental history & consistent year-over-year rent growth. This unique gem boasts outstanding annual appreciation. Less than 1 mile to the prestigious CU's Main and East Campuses, this prime location attracts quality tenants seeking convenience and an unparalleled Boulder lifestyle. Surrounded by a plethora of amenities and desirable attractions (29th Street Mall, Chautauqua Park). This four-unit, eight-bedroom rental property has consistent cash flow with a Current cap rate of 5.2 on an NOI of $97,000, with room to raise rents rents during fall pre-leasing this year and improve cash flow. Stainless steel appliances, energy efficient windows, central air conditioning. Six off-street parking spaces, bike rack, and four lockable storage units in the back of the building. Onsite coin-operated laundry. Centrally located to bus lines, grocery stores, Target, and Whole Foods. Pre-leased for Aug 2023-2024 school year. Contact about a lease buyout for CU parent/student buyers. Possible owner carry option.
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