4629-4653 Otis St
Fully renovated 13-unit multifamily property in Wheat Ridge, Colorado, offered at $2,700,000 at a 5.92% cap ($159,917 NOI). The asset delivers in-place cash flow with upside potential from continued rent growth in a stable Denver metro rental submarket. The majority of units were taken to the studs and rebuilt with new electrical and plumbing systems, while remaining units received full upgrades.
Built in 1960 and comprehensively renovated in 2023, the 9,840 SF building sits on a 23,610 SF (0.54-acre) lot with 22 off-street parking spaces. The single-story, 13-unit layout features large open floor plans with luxury vinyl plank flooring, updated kitchens and bathrooms, new lighting, and new baseboards throughout. Capital improvements completed include replaced windows, a newer roof and gutters, and a boiler replaced approximately three years ago, eliminating near-term capital expenditures. The property also includes a fully renovated on-site laundry room and a large fenced front yard with front and back door entrances.
The property is positioned in a residential neighborhood with strong access to major corridors and employment centers, supporting steady tenant demand and occupancy.
- Fully renovated in 2023; majority of units taken to studs
- New electrical, plumbing, kitchens, bathrooms, and flooring throughout
- Newer roof, gutters, windows, and boiler (replaced ~3 years ago)
- 13 units on 0.54 acres with 22 parking spaces
- In-place cash flow with rent growth upside
- Stable Wheat Ridge submarket within Denver metro
More property details
Location
4629–4653 Otis St is a 13-unit multifamily property located in Wheat Ridge, a consistently stable rental submarket within the Denver metro. The asset is positioned in a residential neighborhood with strong access to major corridors and employment centers, supporting steady tenant demand and
occupancy. The Property offers in-place cash flow with the ability to continue improving rents over time.The Property has undergone a comprehensive renovation program. A majority of the units were
taken down to the studs, while the remaining units have been fully upgraded, including new electrical and plumbing systems. Interior finishes include updated kitchens, bathrooms, flooring, and fixtures, providing a consistent unit product across the property. Capital improvements also include a newer roof and gutters, newer windows, and a boiler replaced approximately three years ago, eliminating near-term capital requirements.
- High quality interior renovations
- Luxury vinyl plank flooring and new baseboards
- Fully updated kitchens, baths, and lighting
- Large open units
- Replaced windows throughout
- Front & back door entrances
- Newer roof and gutters
- Large fenced front yard
- Recent boiler replacement
- Fully renovated, on-site laundry room
- 22 off-street parking spots