1650 Vance Street, Lakewood, CO 80214

Property Description

• Very Attractive Financing: 3.22% Assumable Loan Fixed Through May 1, 2026 • 6.28% Current CAP Rate • Multiple Income Sources: (3) Adjacent 4-Plexes + (10) Garages + Large Workshop • Potential Covered-Land Play: Excellent Zoning (R-MF) on 0.64 Acres Allows for a 48 Unit Apartment Redevelopment • Opportunity to Split Property Into (3) 4-Plexes & Sell Off Individual 4-Plexes • Many Recent Capital Improvements Including New: Windows, Electrical Panels, Exterior Paint & Numerous Interior Updates • City Mandated Residential Growth Restrictions Will Rapidly Increase Rents & Values in Lakewood • Proforma Rents Already Being Achieved • Short Walk to Wadsworth Light Rail Station, Large Retail, Restaurants and Employment Centers