NOT LISTED FOR SALE

Estimated Value: $713,449 - $768,000

9 Beds
4 Baths
2,722 Sq Ft
$273/Sq Ft Est. Value

Last Sold May 24, 2023

Last sale price $835,000 $307 Per Sq Ft

Est. 11% decrease in value since last sale

Current estimated payment $4,244/month

11 Days on Market

Highlights

  • No HOA
  • Cul-De-Sac
  • Forced Air Heating System
  • Lakewood High School Rated A
  • 2 Car Attached Garage
  • Wood Siding

About This Home

As of May 2023

9640-9642 W 23rd Ave is an attractive duplex nestled in the Morse Park Neighborhood, a peaceful Lakewood haven. This income property is an ideal location just minutes from Crown Hill Park, with nearby Colfax Ave retail & restaurants, all while being in perfect proximity to Denver’s major arterial highways (6th, I-70, and I-25). With an expansive 6 bedrooms and 2 baths in one of the units, the property is currently under-rented. Investors also have the ability to add value by lightly renovating the units to increase revenue. Tenants are currently on month-month leases.

INVESTMENT SUMMARY
Price: $865,000
Total Units: 2
Price/Unit: $432,500
Current Cap Rate: 5.76%
Market Proforma Cap Rate: 8.05%

Last Agent to Sell the Property

Kevin Woolsey

MMGREA LLC License #100079114 Listed on: 03/27/2023

Co-Listed By

Andrew Vollert

Kaufman Hagan License #100097790

Last Buyer's Agent

David Geppert

Keller Williams Preferred Realty License #100089090

Keller Williams Preferred Realty

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,416

Year Built

  • Built in 1971

Lot Details

  • 0.27 Acre Lot
  • Cul-De-Sac

Parking

  • 2 Car Attached Garage
  • Driveway

Home Design

  • Duplex
  • Brick Exterior Construction
  • Frame Construction
  • Composition Roof
  • Wood Siding

Interior Spaces

  • 2-Story Property
  • Laundry in unit
  • Unfinished Basement

Kitchen

  • Oven
  • Range

Bedrooms and Bathrooms

  • 9 Bedrooms
  • 4 Bathrooms

Schools

  • Slater Elementary School
  • Creighton Middle School
  • Lakewood High School

Utilities

  • Mini Split Air Conditioners
  • Forced Air Heating System

Listing and Financial Details

  • Exclusions: Tenant personal property
  • Tenant pays for electricity, gas, internet
  • The owner pays for insurance, trash collection, water
  • Assessor Parcel Number 089277

Community Details

Overview

  • No Home Owners Association
  • Westmoor Acres Subdivision

Building Details

  • Operating Expense $9,607

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,416

Year Built

Built in 1971

Lot Details

0

Parking

2

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Duplex
  • Structure Type: Duplex
  • Levels: Two
  • Year Built: 1971
  • Above Grade Finished Sq Ft: 2722
  • Exclusions: Tenant personal property
  • Living Area: 2722
  • SubdivisionName: Westmoor Acres
  • Co List Office Mls Id: RECM4465
  • Ownership: Individual
  • REC_BelowGradeUnfinishedArea: 812.00
  • REC_RVSpaces: 0
  • Special Features: None

Interior Features

  • Appliances: Oven, Range, Refrigerator
  • Basement: Unfinished
  • Basement: Yes
  • Total Bedrooms: 9

Exterior Features

  • Roof: Composition
  • Construction Materials: Brick, Frame, Wood Siding

Garage/Parking

  • Parking Features: Asphalt
  • Attached Garage: Yes
  • Garage Spaces: 2
  • Total Parking Spaces: 6
  • Unit Numberof Parking Per Unit: 1
  • Unit Numberof Parking Per Unit: 1

Utilities

  • Sewer: Public Sewer
  • Cooling: Air Conditioning-Room
  • Heating: Forced Air
  • Water Source: Public
  • Laundry Features: In Unit

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: 9607

Schools

  • Middle Or Junior School: Creighton

Lot Info

  • Parcel Number: 089277
  • Lot Size Acres: 0.27
  • Building Area Total: 3534
  • Lot Features: Cul-De-Sac
  • Lot Size Sq Ft: 11718
  • ResoLotSizeUnits: SquareFeet

Rental Info

  • Owner Pays: Insurance, Other, Trash Collection, Water
  • Tenant Pays: Electricity, Gas, Internet

Tax Info

  • Tax Year: 2022
  • Tax Annual Amount: 3416

MLS Schools

  • Elementary School: Slater
  • High School: Lakewood

Ownership History

Date Name Owned For Owner Type

Purchase Details

Closed on
Jul 10, 2014
Sold by
Wyotexcol Inc
Bought by
9640-42 W 23Th Ave Llc
Current Estimated Value
$744,362
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
9640-42 W 23Th Ave Llc -- None Available
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
05/24/2023 05/24/23 Sold $835,000 -3.5% $307 / Sq Ft
04/07/2023 04/07/23 Pending -- -- --
03/27/2023 03/27/23 For Sale $865,000 -- $318 / Sq Ft
Source: REcolorado®

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
2024 $3,844 $40,101 $15,616 $24,485
2023 $3,844 $40,101 $15,616 $24,485
2022 $3,416 $34,657 $13,922 $20,735
2021 $3,521 $36,440 $14,638 $21,802
2020 $3,293 $34,085 $12,977 $21,108
2019 $3,251 $34,085 $12,977 $21,108
2018 $3,065 $31,321 $8,919 $22,402
2017 $2,758 $31,321 $8,919 $22,402
2016 $2,267 $24,225 $6,657 $17,568
2015 $1,915 $24,225 $6,657 $17,568
2014 $1,915 $18,642 $5,731 $12,911
Source: Public Records

Agents Affiliated with this Home

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Map

Source: REcolorado®

MLS Number: 5030206

REcolorado®

APN: 39-342-03-059