11611 W 16th Avenue, Lakewood, CO 80215 For Sale

Applewood Townhomes is a newly constructed 12-unit townhome community located in one of Lakewood’s most established and affluent residential corridors. Built in 2024, the property occupies 0.62 acres in the heart of the Applewood neighborhood, surrounded by single-family homes, mature trees, and the quiet, private setting that townhome renters pay a premium for.

Every residence is a three-bedroom, three-bathroom multi-level townhome averaging 1,620 square feet. Units feature attached one-car garages, private entries, open-concept main-level living, in-unit washer and dryer, balconies, a dedicated bedroom and bathroom on each floor, and contemporary finishes throughout including modern kitchens with quality appliance packages and durable flooring.

In-place rents average $3,273 per unit, which sits approximately 8% below the surrounding trade area average of $3,543 per unit for comparable product. This embedded rental upside requires zero renovation to capture. As leases roll to market, owners benefit from organic rent growth with no capital expenditure risk and no deferred maintenance to address.

The Applewood submarket features a median household income of $130,545, a median home value of $785,900, and functionally zero new rental supply. The property is located minutes from Golden, downtown Lakewood, and central Denver, offering residents convenient access to employment, recreation, and transit. At $600,000 per unit, the acquisition basis sits at a meaningful discount to the likely individual for-sale value of each townhome, providing a layer of downside protection that few rental investments carry.