7310 W 10TH AVE LAKEWOOD CO 80214
17 Units in Lakewood | Attractive Basis + Value-Add Opportunity
Marketing description
Located in the highly desirable Denver west-suburban market of Lakewood, Club Apartments is a 17-unit multifamily community offering investors a well-maintained asset with immediate operational upside and long-term appreciation potential. The property consists of a mix of studio, one-bedroom, and two-bedroom apartments totaling approximately 11,602 rentable square feet on a 0.52-acre site.
The offering presents an opportunity to acquire a stabilized workforce housing asset in a supply-constrained submarket with strong renter demand, convenient access to downtown Denver, major employment centers, public transportation, and the growing amenities of the West Colfax corridor. Current ownership has maintained strong occupancy while demonstrating the ability to achieve rental premiums through unit upgrades and improved operations.
Club Apartments represents an attractive basis acquisition relative to many competing multifamily opportunities currently available throughout the Denver metro area. Following a period of elevated apartment deliveries across the region, new supply is expected to moderate significantly in the coming years as construction starts have slowed. As excess inventory is absorbed and market fundamentals continue to improve, ownership is well positioned to benefit from future rent growth and increasing cash flow. Investors have the opportunity to acquire a quality asset today while
capitalizing on favorable long-term market dynamics within one of Denver’s most established and desirable rental submarkets.
Investment highlights
ASSUMABLE FREDDIE MAC LOAN AVAILABLE - $1,920,000 LOAN BALANCE AT 5.29% UNTIL MAY 2028.
VALUE-ADD POTENTIAL THROUGH CONTINUED RENOVATION AND ADDING IN-UNIT WASHER/DRYER.
NEWLY INSTALLED GUTTERS, HOT WATER HEATER AND ELECTRICAL PANELS.
10 UNITS HAVE BEEN RENOVATED INCLUDING NEW FLOORING, KITCHENS, LIGHTING, AND BATHS.
ATTRACTIVE BASIS RELATIVE TO LAKEWOOD COMPARABLES AND NEWER MULTIFAMILY DEVELOPMENT IN THE DENVER METRO AREA.
BLOCK AND TWIN T CONSTRUCTION CONTRIBUTE TO LONG-TERM DURABILITY AND REDUCED CAPITAL EXPENDITURE RISK.
FAVORABLE SUBURBAN LOCATION WITH CONVENIENT ACCESS TO LAKEWOOD COUNTRY CLUB, DOWNTOWN DENVER, PUBLIC TRANSIT, RETAIL AMENITIES, AND MAJOR EMPLOYMENT CENTERS
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