Seller's Agent in 2024
Ed Bannias
HomeSmart
(303) 906-0414
1 in this area
47 Total Sales
12778 W 31st Ave Wheat Ridge, CO 80215
Applewood Villages Neighborhood
8
Beds
4
Baths
3,584
Sq Ft
0.31
Acres
Highlights
- Contemporary Architecture
- Property is near public transit
- End Unit
- Prospect Valley Elementary School Rated A-
- Wood Flooring
- Corner Lot
About This Home
As of July 2024This 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.
Last Agent to Sell the Property
HomeSmart Brokerage Email: ed@finddenverhomes.com License #40001127 Listed on: 03/20/2024
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,013
Year Built
- Built in 1962
Lot Details
- 0.31 Acre Lot
- End Unit
- Property is Fully Fenced
- Corner Lot
- Level Lot
- Private Yard
Parking
- 1 Car Attached Garage
- Gravel Driveway
- Dirt Driveway
Home Design
- Contemporary Architecture
- Quadruplex
- Brick Exterior Construction
- Composition Roof
Interior Spaces
- 1-Story Property
- Ceiling Fan
- Finished Basement
Kitchen
- Eat-In Kitchen
- Oven
- Range with Range Hood
- Dishwasher
- Disposal
Flooring
- Wood
- Carpet
- Laminate
- Tile
- Vinyl
Bedrooms and Bathrooms
- 8 Bedrooms
- 4 Bathrooms
Location
- Property is near public transit
Schools
- Kullerstrand Elementary School
- Everitt Middle School
- Wheat Ridge High School
Utilities
- No Cooling
- Forced Air Heating System
- Natural Gas Connected
- High Speed Internet
- Cable TV Available
Listing and Financial Details
- Exclusions: Tenant personal property
- Property held in a trust
- Tenant pays for electricity, gas, internet, trash collection, water
- The owner pays for grounds care, insurance, taxes
- Assessor Parcel Number 032201
Community Details
Overview
- No Home Owners Association
- Maple Grove Subdivision
Building Details
- Operating Expense $18,984
Create a Home Valuation Report for This Property
The Home Valuation Report is an in-depth analysis detailing your home's value as well as a comparison with similar homes in the area
Home Values in the Area
Average Home Value in this Area
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 07/31/2024 07/31/24 | Sold | $875,000 | -2.7% | $244 / Sq Ft |
| 05/17/2024 05/17/24 | Pending | -- | -- | -- |
| 05/07/2024 05/07/24 | Price Changed | $899,000 | -1.7% | $251 / Sq Ft |
| 04/22/2024 04/22/24 | Price Changed | $915,000 | -3.7% | $255 / Sq Ft |
| 04/05/2024 04/05/24 | Price Changed | $950,000 | -1.6% | $265 / Sq Ft |
| 04/05/2024 04/05/24 | Price Changed | $965,000 | -3.0% | $269 / Sq Ft |
| 03/29/2024 03/29/24 | Price Changed | $995,000 | -3.4% | $278 / Sq Ft |
| 03/20/2024 03/20/24 | For Sale | $1,030,000 | -- | $287 / Sq Ft |
Source: REcolorado®
Tax History Compared to Growth
Agents Affiliated with this Home
-
Ed Bannias
-
Morgan Russo
Buyer's Agent in 2024
Morgan Russo
JPAR - Platinum
(267) 608-5217
1 in this area
39 Total Sales
Map
Source: REcolorado®
MLS Number: 2168665
APN: 39-293-11-001
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