8987 W 54th Pl
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8987 W 54th Pl
6 Unit Block of Flats £938,940 (£156,490/Unit) 6.06% Net Initial Yield Arvada, CO 80002
Investment Highlights
- Well-Maintained Community
- Five Fully Renovated Units
- Newer Windows
- Individually Metered for Gas and Electric
- Newer Furnaces and Water Heaters
Executive Summary
Marcus & Millichap has been selected to exclusively market for sale 8987 W 54th Place, a well-maintained 6-unit apartment community in the thriving city of Arvada, Colorado. Situated on 0.4 acres, the subject property was originally constructed in 1960, offering its tenants a healthy mix of one-bedroom and two-bedroom units. The unit mix consists of four large one-bedroom units and two two-bedroom units. The property is professionally maintained and has had a number of recent upgrades which include new windows, all new furnaces, water heaters and updated landscaping. The remodel includes refinished hardwood floors, quartz countertops, new cabinets, new bathrooms, ceiling fans and a fresh coat of paint. Residents at 8987 W 54th Place have easy access to many convenient community amenities including off-street parking and nearby shopping, such as Costco, Home Depot, and Sam’s Club. Residents are next to Terrace Park and 1.5 miles from Olde Town Arvada. The investment appeal of this asset is driven by the strong employment fundamentals, low vacancy levels, and rapidly expanding rental demand in Arvada, Colorado. This well-located asset, just minutes from downtown Denver, presents an attractive choice for central Colorado renters.
Property Facts
| Price | £938,940 | Building Class | B |
| Price Per Unit | £156,490 | Lot Size | 0.39 AC |
| Sale Type | Investment | Building Size | 3,650 SF |
| Net Initial Yield | 6.06% | Average Occupancy | 100% |
| No. Units | 6 | Number of Floors | 1 |
| Property Type | Residential | Year Built/Renovated | 1960/2018 |
| Property Subtype | Apartment | Parking Ratio | 2.74/1,000 SF |
| Apartment Style | Garden | Opportunity Zone |
Yes
|
| Price | £938,940 |
| Price Per Unit | £156,490 |
| Sale Type | Investment |
| Net Initial Yield | 6.06% |
| No. Units | 6 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | B |
| Lot Size | 0.39 AC |
| Building Size | 3,650 SF |
| Average Occupancy | 100% |
| Number of Floors | 1 |
| Year Built/Renovated | 1960/2018 |
| Parking Ratio | 2.74/1,000 SF |
| Opportunity Zone |
Yes |
Unit Amenities
- Cable Ready
- Ceiling Fans
- Wooden Floors
- Tub/Shower
- Double Pane Windows
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 4 | £1,013 | 550 |
| 1+2 | 2 | £1,115 | 775 |
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PROPERTY TAXES
| Parcel Number | 39-151-18-008 | Improvements Assessment | £31,167 |
| Land Assessment | £18,039 | Total Assessment | £49,206 |
PROPERTY TAXES
Parcel Number
39-151-18-008
Land Assessment
£18,039
Improvements Assessment
£31,167
Total Assessment
£49,206
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8987 W 54th Pl
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