10685-10695 W 12th Place, Lakewood, CO 80215
Local realty services provided by:Better Homes and Gardens Real Estate Kenney & Company
10685-10695 W 12th Place,Lakewood, CO 80215
$725,000
- 4 Beds
- 3 Baths
- 3,338 sq. ft.
- Multi-family
- Active
Listed by: andrew vollertavollert@khcommercial.com,650-740-9570
Office: kaufman hagan
MLS#:7646955
Source:ML
Price summary
- Price:$725,000
- Price per sq. ft.:$217.2
About this home
https://khcommercial.com/featured-listings/10685-10695-w-12th-pl-lakewood/
In Place Cap Rate: 6.18%
Market Cap Rate: 7.36%
Current NOI: $44,841
Proforma NOI: $53,392
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.
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Home facts
- Year built:1972
- Listing ID #:7646955
Rooms and interior
- Bedrooms:4
- Total bathrooms:3
- Living area:3,338 sq. ft.
Heating and cooling
- Cooling:Air Conditioning-Room
- Heating:Baseboard
Structure and exterior
- Year built:1972
- Building area:3,338 sq. ft.
- Lot area:0.25 Acres
Schools
- High school:Lakewood
- Middle school:Creighton
- Elementary school:Eiber
Utilities
- Sewer:Public Sewer
Finances and disclosures
- Price:$725,000
- Price per sq. ft.:$217.2
- Tax amount:$3,854 (2024)
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