Description
We are pleased to present 10717 W 38th Ave, a 7-unit apartment community in Wheat Ridge, Colorado. The Fouts Townhouses contain seven units, all of which are two-bedroom townhomes, spread across two buildings. The property is solid brick construction with master-metered gas and individually metered electric.
The units have new cabinets, re-insulated walls, and access to 30 square feet of storage space per unit, free of charge. The Fouts Townhouses sit on the north end of a spacious 0.32 acre parcel with a parking lot containing 21 spaces adjacent to 38th avenue. The property provides a stable cash flow along with a value-add component through the opportunity to raise rents to meet market rates.
The Fouts Townhouses are approximately one mile from Interstate 70 and a half mile from Kipling Street. Tenants have access to a bus stop located in front of the property and are within walking distance to several parks, including Louise-Turner Park, Clear Creek, and the 242-acre Crown Hill Park Wildlife Sanctuary.
The investment appeal of this asset is driven by strong employment fundamentals, low vacancy levels, and rapidly expanding rental demand in the Wheat Ridge market.
Location
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