NOT LISTED FOR SALE
8 Beds
4 Baths
3,584 Sq Ft
0.31 Acre Lot

Sale Details

Date Sold: July 31, 2024

Last sale price $875,000 $244 Per Sq Ft

57 Days on Market

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 2024

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.

Last Agent to Sell the Property

Ed Bannias

HomeSmart Realty Brokerage Email: ed@finddenverhomes.com License #40001127 Listed on: 03/20/2024

HomeSmart Realty

Last Buyer's Agent

Morgan Russo

JPAR - Platinum License #100055975

JPAR - Platinum

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $5,013

Year Built

  • Built in 1962

Lot Details

  • 13,484 Sq Ft 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

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$5,013

Year Built

Built in 1962

Lot Details

0.31 Acres

Parking

1

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Quadplex
  • Architectural Style: Contemporary
  • Structure Type: Quadruplex
  • Levels: One
  • Year Built: 1962
  • Above Grade Finished Sq Ft: 1884
  • Exclusions: Tenant personal property
  • Living Area: 3584
  • Directions: Use GPS
  • SubdivisionName: Maple Grove
  • Ownership: Corporation/Trust
  • Property Attached Yn: Yes
  • ResoBuildingAreaSource: PublicRecords
  • REC_BelowGradeUnfinishedArea: 0.00
  • REC_ExpectedActiveDate: 2024-03-20
  • REC_RVSpaces: 0
  • Ratio Close Price By Original Li: 0.84951
  • Special Features: None

Interior Features

  • Appliances: Dishwasher, Disposal, Oven, Range, Range Hood, Refrigerator
  • Interior Amenities: Ceiling Fan(s), Eat-in Kitchen, High Speed Internet
  • Flooring: Carpet, Laminate, Tile, Vinyl, Wood
  • Common Walls: End Unit
  • Basement: Finished
  • Basement: Yes
  • Total Bedrooms: 8
  • Below Grade Sq Ft: 1700

Exterior Features

  • Roof: Composition
  • Construction Materials: Brick
  • Exterior Features: Private Yard

Garage/Parking

  • Parking Features: Concrete, Driveway-Dirt, Driveway-Gravel
  • Attached Garage: Yes
  • Garage Spaces: 1
  • Total Parking Spaces: 8

Utilities

  • Utilities: Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected
  • Sewer: Public Sewer
  • Cooling: None
  • Heating: Forced Air
  • Water Source: Public

Condo/Co-op/Association

  • Association: No
  • Senior Community: No

Association/Amenities

  • REC_AssociationFee2Annual: 0.00
  • REC_AssociationFee3Annual: 0.00
  • REC_AssociationFeeAnnual: 0.00
  • REC_AssociationFeeTotalAnnual: 0.00

Fee Information

  • Operating Expense: 18984

Schools

  • Middle Or Junior School: Everitt

Lot Info

  • Parcel Number: 032201
  • Lot Size Acres: 0.31
  • Fencing: Full
  • Building Area Total: 3584
  • Lot Features: Corner Lot, Level, Near Public Transit
  • Lot Size Sq Ft: 13484
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Owner Pays: Grounds Care, Insurance, Taxes
  • Tenant Pays: Electricity, Gas, Internet, Trash Collection, Water

Tax Info

  • Tax Year: 2023
  • Tax Annual Amount: 5013

MLS Schools

  • Elementary School: Kullerstrand
  • High School: Wheat Ridge

Ownership History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Name Owned For Owner Type

Purchase Details

Listed on
Mar 20, 2024
Closed on
Jul 31, 2024
Sold by
Bought by
Seller's Agent
Ed Bannias
HomeSmart Realty
Buyer's Agent
Morgan Russo
JPAR - Platinum
List Price
$1,030,000
Sold Price
$875,000
Premium/Discount to List
-$155,000
-15.05%
Views
178

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$831,250
Interest Rate
0.0687%
Mortgage Type
New Conventional

Purchase Details

Closed on
May 6, 2020
Sold by
Bought by

Purchase Details

Closed on
Feb 5, 2020
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$493,000
Interest Rate
0.0372%
Mortgage Type
New Conventional

Purchase Details

Closed on
Sep 20, 2018
Sold by
Bought by

Purchase Details

Closed on
May 25, 2018
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$487,500
Interest Rate
0.044%
Mortgage Type
New Conventional

Purchase Details

Closed on
Jan 20, 2017
Sold by
Bought by

Purchase Details

Closed on
Jan 15, 2016
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$328,000
Interest Rate
0.0398%
Mortgage Type
Purchase Money Mortgage

Purchase Details

Closed on
Oct 28, 2011
Sold by
Bought by

Purchase Details

Closed on
Aug 30, 2002
Sold by
Bought by

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$177,250
Interest Rate
0.055%

Purchase Details

Closed on
Aug 10, 1998
Sold by
Bought by
Source: Public Records
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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Buyer Sale Price Title Company
$875,000 Htc
-- None Available
-- First American Mortgage Sln
-- First American Title
$650,000 First American Title Company
-- None Available
$410,000 Fidelity National Title Ins
-- None Available
-- North American Title
$222,500 First American Heritage Titl
Source: Public Records

Mortgage History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Status Borrower Loan Amount
Open $831,250
Previous Owner $493,000
Previous Owner $487,500
Previous Owner $358,400
Previous Owner $328,000
Previous Owner $177,250
Source: Public Records

Property History

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Date Event Price List to Sale Price per Sq Ft
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

We collect this data history from publicly available records. To have your information removed, we recommend requesting removal directly through your county’s website.

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2025 $6,377 $64,045 $16,880 $47,165
2024 $5,013 $54,010 $18,095 $35,915
2023 $5,013 $54,010 $18,095 $35,915
2022 $3,535 $37,207 $13,314 $23,893
2021 $3,641 $39,122 $13,999 $25,123
2020 $3,622 $38,946 $7,192 $31,754
2019 $3,574 $38,946 $7,192 $31,754
2018 $2,823 $29,982 $7,815 $22,167
2017 $2,605 $29,982 $7,815 $22,167
2016 $2,073 $22,517 $5,451 $17,066
2015 $1,762 $22,517 $5,451 $17,066
2014 $1,762 $17,824 $4,985 $12,839
Source: Public Records

Agents Affiliated with this Home

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Map

Source: REcolorado®

MLS Number: 2168665

REcolorado®

APN: 39-293-11-001

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