UPDATED:
Key Details
Property Type Multi-Family
Sub Type Duplex
Listing Status Active
Purchase Type For Sale
Square Footage 3,338 sqft
Price per Sqft $230
Subdivision Krieger
MLS Listing ID 7646955
Bedrooms 4
HOA Y/N No
Abv Grd Liv Area 3,338
Year Built 1972
Annual Tax Amount $3,854
Tax Year 2024
Lot Size 10,759 Sqft
Acres 0.25
Property Sub-Type Duplex
Source recolorado
Property Description
In Place Cap Rate: 5.82%
Market Cap Rate: 6.93%
Current NOI: $54,840
Proforma NOI: $63,438
10685-95 W 12th Place is a side-by-side, ranch-style duplex that lives more like two single-family homes than attached units. Each unit has its own front entry, fireplace, direct-access garage, and private backyard, which help reduce turnover and support long-term, family style living. The quiet residential location in the Eiber Neighborhood is just a few blocks from both Oak Street Station and Sunset Park, while being 15 minutes from both Downtown Denver and the I-70 Corridor.
Tenants pay for their own gas, electricity, and trash, limiting owner expenses to just property taxes, insurance, water/sewer, and general maintenance. The two-bedroom is currently on month-to-month lease at $1,850, and the long-time four-bedroom tenant (most recently $2,700) vacates 1 August, providing a clean slate for new leasing.
Both units currently rent below market and have not received interior cosmetic updates in more than a decade, presenting a straightforward value-add opportunity to reposition the finishes and push rents towards the top-of-market. 10685-10695 W 12th Pl can also be purchased in tandem with the five-unit property across the street located at 10750 W 12th Pl.
Location
State CO
County Jefferson
Rooms
Basement Partial
Interior
Heating Baseboard
Cooling Air Conditioning-Room
Fireplace N
Exterior
Exterior Feature Private Yard
Garage Spaces 3.0
Fence Partial
Roof Type Other
Total Parking Spaces 3
Garage Yes
Building
Sewer Public Sewer
Level or Stories One
Structure Type Brick
Schools
Elementary Schools Eiber
Middle Schools Creighton
High Schools Lakewood
School District Jefferson County R-1
Others
Senior Community No
Ownership Individual
Acceptable Financing Cash, Conventional, FHA, VA Loan
Listing Terms Cash, Conventional, FHA, VA Loan
Special Listing Condition None
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Learn More About LPT Realty
Cesar Peña
Real Estate Advisor | License ID: FA.100097076
Real Estate Advisor License ID: FA.100097076