UPDATED:
02/20/2025 09:22 PM
Key Details
Property Type Single Family Home
Sub Type Income Property
Listing Status Active
Purchase Type For Sale
Square Footage 2,270 sqft
Subdivision Hillcrest Heights
MLS Listing ID 2488508
Style Ranch
Bedrooms 5
HOA Y/N false
Abv Grd Liv Area 2,270
Originating Board REcolorado
Year Built 1938
Annual Tax Amount $3,181
Lot Size 10,018 Sqft
Acres 0.23
Property Sub-Type Income Property
Property Description
Discover a unique investment opportunity in the heart of Wheat Ridge along the bustling Wadsworth Boulevard corridor. This two unit property sits in a highly opportunistic area, currently zoned R-2, with immense potential for commercial or mixed-use rezoning, offering long-term development advantages. Currently being used as a residential investment with two long term tenants in place.
Property Features:
Upper Unit: 3-bed, 1-bath, recently remodeled (2020-2021), includes washer/dryer and access to a one-car garage. additional revenue potential by monetizing the garage space.
Lower Unit: 2-bed, 1-bath garden-level unit with egress windows in every room, washer/dryer included.
Outdoor Space: Fully fenced backyard shared by both units.
Parking: Ample off-street parking, including RV parking.
Investment Highlights:
Cap Rate Growth Potential: Owner currently covers utilities (gas, electric, water, sewer). Transferring these to tenants immediately increases net income.
Current Lease Structure: 3-bed unit is month-to-month at $2450, offering flexibility; 2-bed unit leased through November 2025 at $1600.
Future Development Upside: Potential for mixed-use conversion, ideal for a retail storefront on one level and residential or office space above.
Whether you're an investor looking to optimize returns with strategic lease adjustments or a visionary developer seeking long-term appreciation in a growing area, this property presents endless opportunities.
Don't miss out on this high-yield, versatile investment in a rapidly evolving market! Contact us today for more details or to schedule a private tour. Seller is open to creative financing opportunities as well.
Location
State CO
County Jefferson
Area Metro Denver
Zoning R2
Direction Enter the property only from the southbound lane of Wadsworth Boulevard
Rooms
Basement Partially Finished
Interior
Heating Hot Water, Radiant
Appliance Dishwasher, Refrigerator, Washer, Dryer
Exterior
Garage Spaces 1.0
Fence Fenced
Roof Type Composition
Building
Lot Description Gutters
Faces East
Story 1
Sewer City Sewer, Public Sewer
Water City Water
Level or Stories One
Structure Type Wood/Frame,Brick/Brick Veneer
New Construction false
Schools
Elementary Schools Wilmore-Davis
Middle Schools Everitt
High Schools Wheat Ridge
School District Jefferson County R-1
Others
Senior Community false
SqFt Source Assessor
GET MORE INFORMATION
Lawrence Clinton Porter
Broker Associate | License ID: FA100029350
Broker Associate License ID: FA100029350