2535 Spruce St Boulder, CO 80302
Whittier NeighborhoodEstimated payment $18,679/month
Highlights
- No HOA
- Whittier Elementary School Rated A-
- Forced Air Heating and Cooling System
About This Home
Exceptional investment opportunity in one of Boulder’s most sought-after locations. Situated just minutes from Downtown Boulder, this well-maintained fourplex offers a rare combination of strong in-place income, long-term appreciation potential, and value-add upside in a market where multifamily inventory is exceedingly limited.
The property consists of four spacious 3-bedroom, 1.5-bathroom units with highly functional floor plans that continue to attract quality tenants year after year. Each unit features generous living space, private entrances, and layouts designed for long-term rental appeal. Off-street parking, on-site laundry, and mature landscaping further enhance tenant satisfaction and retention.
Located in the heart of Boulder, residents enjoy convenient access to Pearl Street, the University of Colorado, Google's Boulder campus, 29th Street, extensive bike paths, public transit, and countless outdoor recreation opportunities. The property's central location supports consistent rental demand and minimizes vacancy risk.
Current rents provide immediate income with additional upside potential through future renovations, operational efficiencies, or market rent adjustments. Whether you're looking to expand an existing portfolio, complete a 1031 exchange, or secure a premier asset in one of Colorado's strongest rental markets, this is an opportunity to acquire a high-demand multifamily property with both stability and growth potential.
Investment Highlights:
• Four 3-bedroom, 1.5-bathroom units
• Prime central Boulder location
• Strong and consistent rental demand
• Value-add and rental growth potential
• Off-street parking and on-site laundry
• Proximity to CU Boulder, Google, Pearl Street, and major employment centers
• Excellent walkability, bikeability, and transit access
• Rare multifamily asset in a supply-constrained market
Listing Agent
ERA New Age Brokerage Email: shelby@newagere.com,720-387-5262 License #100071017 Listed on: 06/08/2026
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $13,293
Year Built
- Built in 1989
Lot Details
- 7,240 Sq Ft Lot
Parking
- 5 Parking Spaces
Home Design
- Quadruplex
- Frame Construction
- Composition Roof
Interior Spaces
- 4,280 Sq Ft Home
- 2-Story Property
- Laundry in unit
Bedrooms and Bathrooms
- 12 Bedrooms
- 8 Bathrooms
Schools
- Whittier Int'l Elementary School
- Casey Middle School
- Boulder High School
Utilities
- Forced Air Heating and Cooling System
- Mini Split Air Conditioners
Listing and Financial Details
- Exclusions: tenants personal property
- Property held in a trust
- The owner pays for grounds care, trash collection, water
- Assessor Parcel Number R0003308
Community Details
Overview
- No Home Owners Association
- Pine Street Subdivision
Building Details
- Operating Expense $23,284
Map
Home Values in the Area
Average Home Value in this Area
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 |
|---|---|---|---|---|
| 2026 | $15,868 | $177,384 | $58,684 | $118,700 |
| 2025 | $15,868 | $177,384 | $58,684 | $118,700 |
| 2024 | $13,293 | $163,038 | $53,938 | $109,100 |
| 2023 | $13,052 | $147,661 | $64,916 | $86,430 |
| 2022 | $11,982 | $125,800 | $40,528 | $85,272 |
| 2021 | $11,686 | $132,276 | $42,614 | $89,662 |
| 2020 | $9,709 | $111,540 | $42,614 | $68,926 |
| 2019 | $9,560 | $111,540 | $42,614 | $68,926 |
| 2018 | $9,051 | $104,400 | $27,432 | $76,968 |
| 2017 | $8,768 | $122,982 | $43,382 | $79,600 |
| 2016 | $6,654 | $73,184 | $30,328 | $42,856 |
| 2015 | $5,999 | $61,148 | $22,606 | $38,542 |
| 2014 | $5,257 | $61,148 | $22,606 | $38,542 |
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 | Prior Sale |
|---|---|---|---|---|---|
| 06/08/2026 06/08/26 | For Sale | $3,200,000 | +14.3% | $748 / Sq Ft | |
| 07/28/2022 07/28/22 | Off Market | $2,800,000 | -- | -- | |
| 04/29/2022 04/29/22 | Sold | $2,800,000 | -3.4% | $1,308 / Sq Ft | View Prior Sale |
| 04/05/2022 04/05/22 | For Sale | $2,900,000 | +3.6% | $1,355 / Sq Ft | |
| 03/31/2022 03/31/22 | Off Market | $2,800,000 | -- | -- | |
| 09/27/2021 09/27/21 | For Sale | $2,900,000 | +151.7% | $1,355 / Sq Ft | |
| 01/28/2019 01/28/19 | Off Market | $1,152,000 | -- | -- | |
| 08/31/2015 08/31/15 | Sold | $1,152,000 | +21.3% | $538 / Sq Ft | View Prior Sale |
| 08/01/2015 08/01/15 | Pending | -- | -- | -- | |
| 06/08/2015 06/08/15 | For Sale | $950,000 | -- | $444 / Sq Ft |
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 | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $2,800,000 | First American Title | |
| Warranty Deed | $1,152,000 | Land Title Guarantee Company | |
| Interfamily Deed Transfer | -- | -- | |
| Deed | -- | -- | |
| Deed | $60,000 | -- |
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 | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $2,107,500 | New Conventional | |
| Previous Owner | $864,000 | Commercial |
Source: REcolorado®
MLS Number: 4892009
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Ask me questions while you tour the home.