Description
Prime Multi Unit Investment Opportunity in Wheat Ridge High Income Potential as is or through development. 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.
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5BEDS
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0.23ACRES
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0BATHS
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01/2 BATHS
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2,270SQFT
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$264$/SQFT
School Information
Offered by Your Castle Real Estate Inc.Description
Prime Multi Unit Investment Opportunity in Wheat Ridge High Income Potential as is or through development. 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.
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