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Cesar Peña

cesar@onlythebestrealestate.com +1(720) 790-4246

$2,910,000

Est. payment - /mo

5,589 SqFt

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Key Details

Property Type Multi-Family

Sub Type Triplex

Listing Status Active

Purchase Type For Sale

Square Footage 5,589 sqft

Price per Sqft $520

Subdivision Frasier Meadows

MLS Listing ID IR1057694

Style Contemporary

HOA Y/N No

Year Built 1962

Annual Tax Amount $10,098

Tax Year 2025

Lot Size 0.280 Acres

Acres 0.28

Property Sub-Type Triplex

Source recolorado

Property Description

Well-maintained and high-performing triplex in a Williams Village neighborhood, offering a rare combination of high in-place income, long-term tenant stability, and future upside. Each of the three units features 5 bedrooms and 2 bathrooms, resulting in an income profile that outperforms that of typical small multifamily properties. The property has achieved 100% occupancy during ownership, with a consistent history of tenant retention and steady rent growth. Current leases are in place through August 2027, providing immediate income stability for a new owner. The tenant base has historically included academically focused renters, contributing to lower turnover and reliable performance. Extensive capital improvements have been completed over time, including roof replacement, updated windows, remodeled kitchens and bathrooms, furnace upgrades, sump pumps, radon mitigation, and appliance replacement. The result is a well-cared-for asset with minimal deferred maintenance. Located in an established residential setting with convenient access to transit along Baseline Road, bike routes, and nearby amenities, including parks, recreation, and neighborhood shopping. The property is also within close proximity to the University of Colorado, supporting consistent rental demand. Additional upside potential exists through interior updates to one unit and continued rent optimization over time. RM-2 zoning allows for flexibility in future use (subject to City of Boulder approval), adding long-term optionality. A compelling opportunity for investors seeking stable income, strong rental fundamentals, and a well-maintained asset in one of Boulder's most desirable rental markets. Financials: Cap Rate - 5.15; GRM - 16.42; NOI - $149,987; Vacancy Rate - 0.

Location

State CO

County Boulder

Zoning HRE

Rooms

Basement Full

Interior

Heating Forced Air

Flooring Wood

Fireplace N

Appliance Dishwasher, Dryer, Oven, Refrigerator, Washer

Exterior

Fence Partial

Utilities Available Cable Available, Electricity Available, Internet Access (Wired), Natural Gas Available

Roof Type Composition

Total Parking Spaces 3

Building

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Brick

Schools

Elementary Schools Eisenhower

Middle Schools Manhattan

High Schools Fairview

School District Boulder Valley Re 2

Others

Ownership Individual

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

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Listed by Stellar Properties, LLC

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Cesar Peña

+1(720) 790-4246

Real Estate Advisor | License ID: FA.100097076

Real Estate Advisor License ID: FA.100097076

650-654 Inca Pkwy Boulder, CO 80303

Cesar Peña

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

Schools and Properties Nearby

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650-654 Inca Pkwy