The Reed Apartments
Fully renovated 40-unit multifamily asset in Lakewood, Colorado, offered at $7,700,000 at a 6.65% cap ($512,472 NOI). The Reed comprises five separate 8-unit walk-up buildings on 1.94 acres, built in 1953 and upgraded with over $1,000,000 in recent capital improvements including new roofs, boilers, windows, and modernized electrical panels throughout.
Located in the Edgewater-adjacent submarket just ten minutes from Downtown Denver, the property offers walkable access to Edgewater Public Market, Sloan's Lake, and the West Colfax retail corridor, with easy connectivity to 6th Avenue, I-70, and RTD light rail at Lakewood/Wadsworth and Lamar stations. The predominantly two- and three-bedroom unit mix appeals to a broad tenant base. Current occupancy stands at 93%, and the five-building configuration provides operational flexibility and phased exit optionality rarely available at this unit count. Parking includes 77 spaces across the property.
- Over $1,000,000 in recent capital improvements: new roofs, boilers, windows, and electrical panels
- Five separate 8-unit buildings offering operational flexibility and phased disposition options
- Walkable to Edgewater Public Market, Sloan's Lake, and West Colfax retail corridor
- Ten minutes from Downtown Denver with direct RTD light rail access
- Enhanced outdoor amenities: refreshed landscaping, community garden, dog park, pergola, and BBQ area
- Class B stabilized asset at 93% occupancy
More property details
Location
The Reed is a fully renovated 40-unit multifamily asset in the desirable Edgewater-adjacent submarket of Lakewood, Colorado — just 10 minutes
from Downtown Denver with walkable access to Edgewater Public Market, Sloan’s Lake, and the West Colfax retail corridor, plus easy connectivity
to 6th Ave, I-70, and RTD light rail at Lakewood/Wadsworth and Lamar. Built in 1953 and comprising five separate 8-unit walk-up buildings on 1.94
acres, the property has undergone over $1,000,000 in recent capital improvements, including newer roofs, boilers, windows, and updated electrical panels throughout. The five-building configuration offers operational flexibility and phased exit optionality rarely available at this unit count.
- Fully upgraded 40-unit property with more than $1 million invested in recent renovations
- Significant capital improvements include newer roofs, boilers, and windows across the community
- Electrical panels have been modernized throughout the property
- Attractive unit mix featuring predominantly two- and three-bedroom apartments
- Enhanced outdoor amenities include refreshed landscaping, a community garden, dog park, pergola, and BBQ area
- Comprised of five separate 8-unit buildings, providing operational flexibility and potential for phased disposition