Scandia Apartments
Scandia Apartments is a 12-unit multifamily property in Arvada, Colorado, offered at $1,775,000 at a 5.60% cap rate ($100,103 NOI). The stabilized asset features two one-bedroom units (550 SF) and ten two-bedroom units (791 SF), with current rents of $1,095 and $1,321 respectively. Built in 1959 and well-maintained with brick construction, a pitched roof, and boiler HVAC, the property sits on a 21,170 SF lot with 19 off-street parking spaces in an R-M zoned neighborhood.
Located minutes from Olde Town Arvada and the RTD G-Line commuter rail, which provides a 20-minute link to Denver Union Station, the property benefits from strong market fundamentals. The surrounding trade area supports a median household income of approximately $117,348, with residents enjoying access to over 150 miles of hiking and biking trails and 90 parks including Ralston Creek Trail. The neighborhood is anchored by highly-rated schools and offers a balance of suburban tranquility and urban convenience, positioning Arvada as a resilient investment market within the Denver MSA.
Pro forma analysis shows potential for improvement, with NOI projected to reach $121,551 (6.80% cap) through modest rent growth and expense optimization. Current expenses of $105,393 annually are adjusted downward to $84,696 in pro forma, reflecting normalized repairs and maintenance. The property generates current gross rental income of $205,496 and is 95% occupied.
- 12 units at $147,917 per unit; $189 per SF
- Pro forma 6.80% cap rate with $121,551 NOI
- Minutes from RTD G-Line and Olde Town Arvada
- Well-maintained brick construction with ample parking (19 spaces)
- Strong market fundamentals: $117,348 median household income, highly-rated schools, 150+ miles of trails
More property details
Features & amenities
Location
Located in a quiet residential neighborhood just northwest of Denver, Arvada offers a premier lifestyle balancing historic small-town character with sophisticated metropolitan amenities. The property is minutes from Olde Town Arvada, the city's historic downtown area known for charming shops, diverse dining, and entertainment venues. The RTD G-Line commuter rail provides a seamless 20-minute transit link to Denver Union Station. Arvada is positioned as the 'Gateway to the Rockies' with unparalleled access to both urban employment centers and world-class outdoor recreation, including over 150 miles of hiking and biking trails and 90 parks.
- Minutes from Olde Town Arvada;
- RTD G-Line commuter rail access;
- Median household income ~$117,348;
- Highly-rated schools; 150+ miles of trails;
- 90 parks including Ralston Creek Trail
Additional details
This confidential Offering Memorandum has been prepared by NorthPeak Commercial Advisors, LLC for use by a limited number of qualified parties. NorthPeak Commercial Advisors recommends independent examination and inspection of the property. By accepting this Offering Memorandum, you acknowledge reliance solely upon your own examination and investigation. NorthPeak Commercial Advisors makes no guarantee, warranty, or representation about the completeness or accuracy of the information. The information is not intended to be a promise or representation as to future performance.
Located just northwest of Denver, Arvada offers a premier lifestyle balancing historic small-town character with sophisticated metropolitan amenities. Known for high quality of life and strong community engagement, it is a primary draw for young professionals and families. Olde Town Arvada features local breweries, artisanal dining, and boutiques, hosting year-round community festivals and farmers markets. Positioned as the 'Gateway to the Rockies,' Arvada provides unparalleled access to urban employment centers and world-class outdoor recreation.
RTD G-Line commuter rail with 20-minute link to Denver Union Station; I-70 and Highway 93 access