10685 W 12th Pl Lakewood, CO 80215
4 Beds
3 Baths
3,338 SqFt
UPDATED:
Key Details
Property Type Single Family Home
Sub Type Income Property
Listing Status Active
Purchase Type For Sale
Square Footage 3,338 sqft
Subdivision Krieger
MLS Listing ID 7646955
Style Ranch
Bedrooms 4
HOA Y/N false
Abv Grd Liv Area 3,338
Year Built 1972
Annual Tax Amount $3,854
Lot Size 10,890 Sqft
Acres 0.25
Property Sub-Type Income Property
Source REcolorado
Property Description
In Place Cap Rate: 5.82%
Market Cap Rate: 6.93%
Current NOI: $54,840
Proforma NOI: $63,438
10685-95 W 12th Place is a side-by-side, ranch-style duplex that lives more like two single-family homes than attached units. Each unit has its own front entry, fireplace, direct-access garage, and private backyard, which help reduce turnover and support long-term, family style living. The quiet residential location in the Eiber Neighborhood is just a few blocks from both Oak Street Station and Sunset Park, while being 15 minutes from both Downtown Denver and the I-70 Corridor.
Tenants pay for their own gas, electricity, and trash, limiting owner expenses to just property taxes, insurance, water/sewer, and general maintenance. The two-bedroom is currently on month-to-month lease at $1,850, and the long-time four-bedroom tenant (most recently $2,700) vacates 1 August, providing a clean slate for new leasing.
Both units currently rent below market and have not received interior cosmetic updates in more than a decade, presenting a straightforward value-add opportunity to reposition the finishes and push rents towards the top-of-market. 10685-10695 W 12th Pl can also be purchased in tandem with the five-unit property across the street located at 10750 W 12th Pl.
Location
State CO
County Jefferson
Area Metro Denver
Rooms
Basement Partial
Interior
Heating Baseboard
Cooling Wall/Window Unit(s)
Exterior
Garage Spaces 3.0
Fence Partial
Roof Type Other
Building
Story 1
Sewer City Sewer, Public Sewer
Level or Stories One
Structure Type Brick/Brick Veneer
New Construction false
Schools
Elementary Schools Eiber
Middle Schools Creighton
High Schools Lakewood
School District Jefferson County R-1
Others
Senior Community false
SqFt Source Assessor
Special Listing Condition Private Owner
