Sold

Closed

8220 W 16th Place

Lakewood CO, 80214

$3,650,000


$221.99 per sqft

Sold

Closed

16,442 sqft

Commercial

Built in 1959

Priced Reduced! Cottonwood Apartments is an 18-unit apartment building built in 1959 located in the heart of Lakewood, Colorado. The all-brick interior hall building features 3 one-bedroom/one-bathroom units, and 15 spacious two-bedroom/one-bathroom units. Average unit size nearly 900 square feet. The property features an excellent central location, wood cabinetry, ample off -street parking, an on-site laundry room, central swamp cooling system, and spacious well designed floor plans. The property also includes a large open area on the southwest corner of the parcel that could be developed in the future, a large off -street parking lot and mature beautiful landscaping. Easy value-add option to increase rents over $150/unit/month with minor kitchen modernizations.
Turn-Key Opportunity Including Newer Roof, Gutters, Windows, Newer Boiler and Updated Interiors
Large, Well Landscaped Lot with Potential to Add 15 Units or Garages
Mostly Large, Two Bedroom Units
Less than One Mile to Wadsworth Lightrail Station

8796675

MLS ID

April 10, 2023

Listed

May 9, 2024

Updated

Map

8220 W 16th Place
Lakewood CO, 80214

Interior Features

Total Stories

3


Fireplace

No


Cooling

No


Heating

No

Exterior/Building Features

Lot Size

0.82 Acres


Lot Features

Corner Lot, Irrigated, Landscaped, Near Public Transit, Sprinklers In Front, Sprinklers In Rear


Roof

Membrane


Sewer

Public Sewer

Other Property Details

Taxes

$21,613


Tax Frequency

Annually


Garage

No


Parking

Asphalt


Parking Total

30


View

No


County

Jefferson


Water Source

Public


Pool

No


Buyer Agency Compensation

2.5%

Listing History

Date

Event

Price

7/28/2023

Price Change

$3,650,000

-9%

7/28/2023

Sold

$3,650,000

Listed by Pinnacle Real Estate Advisors, Robert Lawson, Listing Contact: [email protected],303-962-9555 
 

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