Lakewood, CO 80215
Unparalleled Light Rail Access The property is less than a block from the Oak Light Rail Station on the West Corridor Line providing residents with direct access to the Denver Federal Center, the Jefferson County Government Center, downtown Denver, and the Southwest and Southeast light rail lines. High Barriers to Entry In the City of Lakewood, a lack of available land sites coupled with an extraordinarily difficult city approval process have resulted in no new multifamily developments since 2001 outside of the Belmar redevelopment. In nearby Golden, not a single market-rate multifamily property has been built since 1995. Proven Value-Add Opportunity The seller of the property has initiated a value-add unit renovation project that demonstrates significant upside to the purchaser. Currently 25% of the units have been renovated with new appliances, granite counter tops, floors, and cut out kitchen walls. These renovated units are achieving rent premiums between 15-25%.
JUSTIN HUNT with APARTMENT REALTY ADVISORS
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