717 Oak St
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717 Oak St
6 Unit Block of Flats £1,013,997 (£169,000/Unit) 5.83% Net Initial Yield Lakewood, CO 80215
INVESTMENT HIGHLIGHTS
- Great Unit Mix - Mostly 2Bd Units
- Located in an Opportunity Zone on a Large Lot
- Excellent Neighborhood Demographics: $94k Average Household Income within 2 Mile Radius
- On-Site Laundry and Individual Storage Lockers
- Near Oak Street & Federal Center Light Rail Stations
- Can Be Purchased with 5275 W 1st Avenue & 1360 Zephyr Street
EXECUTIVE SUMMARY
717 Oak Street is a well-maintained 6-unit apartment building featuring a desirable unit mix, offering predominantly 2Bd/1Ba units. Located in an Opportunity Zone on a spacious lot, this property has been recently renovated and includes on-site laundry facilities and individual storage lockers.
717 Oak Street is conveniently situated with quick access to 6th Avenue and Oak Street Light Rail Station, providing easy connectivity to downtown Denver and the surrounding areas. This property can be purchased individually or as part of a portfolio with 1360 Zephyr Street and 5275 W 1st Ave.
717 Oak Street is conveniently situated with quick access to 6th Avenue and Oak Street Light Rail Station, providing easy connectivity to downtown Denver and the surrounding areas. This property can be purchased individually or as part of a portfolio with 1360 Zephyr Street and 5275 W 1st Ave.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
£76,873
|
£15.36
|
| Other Income |
£8,908
|
£1.78
|
| Vacancy Loss |
£2,154
|
£0.43
|
| Effective Gross Income |
£83,627
|
£16.71
|
| Taxes |
£6,157
|
£1.23
|
| Operating Expenses |
£18,347
|
£3.66
|
| Total Expenses |
£24,504
|
£4.89
|
| Net Operating Income |
£59,124
|
£11.81
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | £76,873 |
| Annual Per SF | £15.36 |
| Other Income | |
|---|---|
| Annual | £8,908 |
| Annual Per SF | £1.78 |
| Vacancy Loss | |
|---|---|
| Annual | £2,154 |
| Annual Per SF | £0.43 |
| Effective Gross Income | |
|---|---|
| Annual | £83,627 |
| Annual Per SF | £16.71 |
| Taxes | |
|---|---|
| Annual | £6,157 |
| Annual Per SF | £1.23 |
| Operating Expenses | |
|---|---|
| Annual | £18,347 |
| Annual Per SF | £3.66 |
| Total Expenses | |
|---|---|
| Annual | £24,504 |
| Annual Per SF | £4.89 |
| Net Operating Income | |
|---|---|
| Annual | £59,124 |
| Annual Per SF | £11.81 |
PROPERTY FACTS
| Price | £1,013,997 | Building Class | C |
| Price Per Unit | £169,000 | Lot Size | 0.29 AC |
| Sale Type | Investment | Building Size | 5,006 SF |
| Net Initial Yield | 5.83% | Number of Floors | 2 |
| No. Units | 6 | Year Built | 1961 |
| Property Type | Multifamily | Parking Ratio | 1.2/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low Rise |
| Price | £1,013,997 |
| Price Per Unit | £169,000 |
| Sale Type | Investment |
| Net Initial Yield | 5.83% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 5,006 SF |
| Number of Floors | 2 |
| Year Built | 1961 |
| Parking Ratio | 1.2/1,000 SF |
| Opportunity Zone |
Yes |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 2 | £1,071 | 650 |
| 2+1 | 4 | £1,157 | 800 |
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PROPERTY TAXES
| Parcel Number | 49-044-18-019 | Total Assessment | £68,102 (2023) |
| Land Assessment | £13,428 (2023) | Annual Taxes | £6,157 (£1.23/sf) |
| Improvements Assessment | £54,674 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
49-044-18-019
Land Assessment
£13,428 (2023)
Improvements Assessment
£54,674 (2023)
Total Assessment
£68,102 (2023)
Annual Taxes
£6,157 (£1.23/sf)
Tax Year
2024
ZONING
| Zoning Code | PP (PP) |
| PP (PP) |
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717 Oak St
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