NOT LISTED FOR SALE

964 Arapahoe Ave Unit 3 Boulder, CO 80302

University Hill Neighborhood

Estimated Value: $787,000 - $992,000

4 Beds
2 Baths
1,189 Sq Ft
$709/Sq Ft Est. Value

Last Sold December 15, 2022

Last sale price $790,000 $664 Per Sq Ft

Est. 7% increase in value since last sale

Current estimated payment $5,595/month

8 Days on Market

Highlights

  • Open Floorplan
  • Deck
  • Ceiling Fan
  • Flatirons Elementary School Rated A
  • Cooling Available
  • 3-minute walk to Boulder International Peace Garden

About This Home

As of December 2022

Turn-Key investor opportunity in unbeatable location 3 blocks from Pearl, 5 blocks from the heart of the Hill & campus, and across the street from the brand new civic area park with access to the Boulder Creek Path. Four bedrooms, two baths, giant wrap-around deck, one off-street covered parking space, exterior storage closet, bamboo floors, washer & dryer, dishwasher, slide-in gas range, stainless steel fridge, gas fireplace, and mountain views! Rented through Aug '23. Unit is never vacant as it's easy to pre-lease ~9 months before the start of each school year. Zoned RH-2, Legal for 4 unrelated. HOA includes everything: Flood Insurance, studs-out property insurance, heat, water, trash, recycling, snow removal, landscaping, & all exterior maintenance. Current 4.8% cap rate; Buyer can easily bump rates for '23-24 school year. Seller is a broker licensed in the State of Colorado.

Last Agent to Sell the Property

Mike Lane

Michael M Lane Listed on: 10/25/2022

Last Buyer's Agent

Non-IRES Agent

Non-IRES

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $4,610

Year Built

  • Built in 1973

Lot Details

  • 0.25 Acre Lot
  • Wood Fence

HOA Fees

  • $792 Monthly HOA Fees

Home Design

  • Property Attached
  • Wood Frame Construction
  • Composition Roof

Interior Spaces

  • 1,189 Sq Ft Home
  • 1-Story Property
  • Open Floorplan
  • Ceiling Fan
  • Gas Fireplace

Kitchen

  • Gas Oven or Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 2 Bathrooms

Laundry

  • Dryer
  • Washer

Outdoor Features

  • Deck

Schools

  • Flatirons Elementary School
  • Manhattan Middle School
  • Boulder High School

Utilities

  • Cooling Available
  • Hot Water Heating System
  • High Speed Internet
  • Cable TV Available

Listing and Financial Details

  • Tenant pays for deposit, electricity
  • Assessor Parcel Number R0510887

Community Details

Overview

  • Association fees include common amenities, trash, snow removal, ground maintenance, management, utilities, maintenance structure
  • Rittenhouse Condominiums Subdivision

Amenities

  • Community Storage Space

Building Details

  • Gross Income $55,800
  • Net Operating Income $39,830

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$4,610

Year Built

Built in 1973

Lot Details

0

HOA Fees

$792 per month

Listing Details

  • Year Built: 1973
  • Property Sub Type: Attached Dwelling
  • Prop. Type: Residential Income
  • Horses: No
  • Lot Size Acres: 0.25
  • Road Frontage Type: City Street
  • Road Surface Type: Paved, Asphalt
  • Subdivision Name: Rittenhouse Condominiums
  • Architectural Style: Ranch
  • Unit Levels: One
  • New Construction: No
  • Property Attached Yn: Yes
  • Building Stories: 1
  • IRESDS_HasWaterRights: No
  • IRESDS_Total Sq Ft: 1189
  • Special Features: None
  • Stories: 1

Interior Features

  • Possible Use: Single Family
  • Private Spa: No
  • Appliances: Gas Range/Oven, Dishwasher, Refrigerator, Washer, Dryer, Microwave
  • Has Basement: None
  • Total Bedrooms: 4
  • Fireplace Features: Gas
  • Fireplace: Yes
  • Interior Amenities: High Speed Internet, Open Floorplan
  • ResoLivingAreaSource: Assessor

Exterior Features

  • Roof: Composition
  • Fencing: Wood
  • Lot Features: Curbs, Gutters, Sidewalks
  • Waterfront: No
  • Construction Type: Wood/Frame
  • Patio And Porch Features: Deck
  • Property Condition: Not New, Previously Owned

Utilities

  • Cooling: Ceiling Fan(s)
  • Electric: Electric, Xcel
  • Heating: Hot Water
  • Utilities: Natural Gas Available, Electricity Available, Cable Available
  • Cooling Y N: Yes
  • Heating Yn: Yes
  • Sewer: City Sewer
  • Water Source: City Water, City of Boulder
  • Gas Company: Natural Gas, Xcel

Condo/Co-op/Association

  • HOA Fee Includes: Common Amenities, Trash, Snow Removal, Maintenance Grounds, Management, Utilities, Maintenance Structure
  • Community Features: Extra Storage
  • Senior Community: No
  • Association Fee: 791.85
  • Association Fee Frequency: Monthly
  • Association: Yes

Association/Amenities

  • IRESDS_HasAssociationReserve: No
  • IRESDS_HasAssociationFee: Yes

Schools

  • Elementary School: Flatirons
  • HighSchool: Boulder
  • Junior High Dist: Boulder Valley Dist RE2
  • Middle Or Junior School: Manhattan

Lot Info

  • Zoning: RH-2
  • Lot Size Sq Ft: 11002
  • Parcel #: R0510887
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Tenant Pays: Deposit, Electricity

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 4610.12

Multi Family

  • Number Of Units Total: 1
  • Annual Gross Income: 55800
  • Income Includes: ["Lease/Rents"]

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 25, 2022
Closed on
Dec 15, 2022
Sold by
Lane Jenny Boyd
Bought by
Butler Christopher Wylie and Clark Bonnie Lynn
Seller's Agent
Mike Lane
Michael M Lane
Buyer's Agent
Non-IRES Agent
Non-IRES
List Price
$830,000
Sold Price
$790,000
Premium/Discount to List
-$40,000
-4.82%
Views
46
Current Estimated Value
$842,784

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$52,784
Avg. Annual Appreciation
2.18%

Purchase Details

Closed on
Jan 28, 2016
Sold by
Mccarty Lane Jenny Boyd and Mccarty Lane Michael
Bought by
Lane Jenny Boyd

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$417,000
Interest Rate
3.99%
Mortgage Type
New Conventional

Purchase Details

Listed on
Feb 14, 2012
Closed on
Jun 14, 2012
Sold by
Loughridge Scott M and Loughridge Alice I
Bought by
Lane Jenny Boyd
Seller's Agent
Caldwell Sullivan
Four Star Rlty & Prop Mgmt
Buyer's Agent
Andrew Hawk
Folsom & Co. Real Estate
List Price
$459,000
Sold Price
$447,000
Premium/Discount to List
-$12,000
-2.61%

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Avg. Annual Appreciation
4.81%
Original Mortgage
$184,500
Interest Rate
3.86%
Mortgage Type
New Conventional

Purchase Details

Closed on
Apr 20, 2006
Sold by
The B Weincoop Llc
Bought by
Loughridge Scott M

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$344,000
Interest Rate
6.15%
Mortgage Type
Fannie Mae Freddie Mac
Source: Public Records

Range of Values:

--
Value Increase
--
Percent Increase
--
Adjusted for Inflation
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Average Value
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List Price
Sold Price
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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
Butler Christopher Wylie $790,000 Land Title
Lane Jenny Boyd -- None Available
Lane Jenny Boyd $447,000 Firs Colorado Title
Loughridge Scott M $430,000 First Colorado Title
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Previous Owner Lane Jenny Boyd $417,000
Previous Owner Lane Jenny Boyd $184,500
Previous Owner Loughridge Scott M $344,000
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/15/2022 12/15/22 Sold $790,000 -4.8% $664 / Sq Ft
11/02/2022 11/02/22 For Sale $830,000 +85.7% $698 / Sq Ft
01/28/2019 01/28/19 Off Market $447,000 -- --
06/18/2012 06/18/12 Sold $447,000 -2.6% $376 / Sq Ft View Prior Sale
05/19/2012 05/19/12 Pending -- -- --
02/14/2012 02/14/12 For Sale $459,000 -- $386 / Sq Ft
Source: IRES MLS

Tax History Compared to Growth

Source: Public Records

Tax History

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 $4,442 $54,319 -- $54,319
2024 $4,442 $54,319 -- $54,319
2023 $4,362 $49,647 -- $53,332
2022 $4,831 $51,215 $0 $51,215
2021 $4,610 $52,688 $0 $52,688
2020 $4,263 $48,978 $0 $48,978
2019 $4,198 $48,978 $0 $48,978
2018 $4,224 $48,715 $0 $48,715
2017 $4,091 $53,857 $0 $53,857
2016 $3,388 $39,139 $0 $39,139
2015 $3,208 $26,690 $0 $26,690
2014 $2,295 $26,690 $0 $26,690
Source: Public Records

Agents Affiliated with this Home

  • Mike Lane

    Seller's Agent in 2022

    Mike Lane

    Michael M Lane

    (303) 819-6010

    1 in this area

    14 Total Sales

    Mike Lane
    Section Image

  • N

    Buyer's Agent in 2022

    Non-IRES Agent

    CO_IRES

  • C

    Seller's Agent in 2012

    Caldwell Sullivan

    Four Star Rlty & Prop Mgmt

    (720) 273-8957

    3 in this area

    8 Total Sales

    Caldwell Sullivan
    Section Image

  • A

    Buyer's Agent in 2012

    Andrew Hawk

    Folsom & Co. Real Estate

    (303) 499-9944

    3 in this area

    43 Total Sales

    Andrew Hawk
    Section Image
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Map

Source: IRES MLS

MLS Number: 977796

IRES MLS

APN: 1463312-60-003

Colorado Boulder County Boulder 80302 University Hill

964 Arapahoe Ave Unit 3, Boulder, CO

Not Listed for Sale

MultiFamily

Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.

IRES MLS Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.

Listing information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Information deemed reliable but not guaranteed by the MLS.

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