Wheat Ridge, CO 80033 3830 Otis St 1-4

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Presented By: The Old Country Real Estate Group LLC; 720-724-3933
  • MLS# 2082472
  • 08/31/2024
  • Request Tour
  • Request Info
  • Beds • 8
  • Baths • 8
  • SQFT • 6,548
  • Garage • 4

Home Details

Welcome to this exceptional quadplex in the desirable Edgewater area, offering a prime investment opportunity with four spacious units, each over 1600 square feet. Something you will not find in any other income property in the surrounding area. Every unit features 2 bedrooms and 2 bathrooms, large kitchen with additional dining area, family room and living room, and their own washer/dryer, designed for comfort and modern living. Stainless Steel appliances finish the modern look of the kitchens, and 4-piece second floor bathrooms provide ample space. The new owner will not have to do anything as recent updates include sleek new flooring, contemporary countertops in the kitchens/baths, and stylish new tile in the kitchen backsplash and bathrooms. Additional upgrades consist of new windows, a newer roof, fresh paint in and out, new gutters, new boilers, and newer privacy fencing. New swamp coolers add to the appeal, providing efficient cooling. New landscaping finishes out the extraordinary upkeep this property has endured. Each unit is equipped with its own detached carport and a one-car garage, along with outside parking ensuring substantial parking. Existing tenants have been leasing for extended periods, and vacancy rates have been zero for over 1 1/2 years and below 2% prior to that. With its blend of updated features and convenient amenities, and great location, this quadplex is a standout property for investors seeking a stable income stream and a well-maintained asset in the Edgewater area.
Presented By: The Old Country Real Estate Group LLC; 720-724-3933

Interior Features for 3830 Otis St 1-4

Bedrooms

Total Bedrooms8

Bathrooms

Total Baths8

Other Interior Features

LivingAreaSourceAssessor
Above Grade Finished Area6548
Air Conditioning Y/NYes
Fireplace Features2+ Fireplaces
Fireplace Y/NYes
Heating Y/NYes
Interior AmenitiesWalk-In Closet(s)

General for 3830 Otis St 1-4

AppliancesSelf Cleaning Oven, Dishwasher, Refrigerator, Washer, Dryer, Disposal
Attached Garage No
Cap Rate4.179999
CityWheat Ridge
Construction MaterialsBrick/Brick Veneer, Wood Siding
CoolingEvaporative Cooling, Ceiling Fan(s)
CountyJefferson
ElectricElectric, Separate Meter Electricity
Elementary SchoolStevens
ExclusionsAny/all items owned by current tenants.
Garage Spaces4
Garage Y/NYes
Gas Y/NSeparate Meter Gas
Gross Income92400
HOANo
HeatingForced Air
High SchoolWheat Ridge
High School DistrictJefferson County R-1
Land Lease Y/NNo
LevelsTwo
Living Area UnitsSquare Feet
Lot Size UnitsSquare Feet
MLS AreaMetro Denver
Middle/Junior High SchoolEveritt
Net Operating Income70192
New ConstructionNo
Number Of Units Total4
Operating Expense20360
Patio/Porch FeaturesPatio
Property Attached Y/NNo
Property ConditionNot New, Previously Owned
Property SubtypeIncome Property
Property TypeResidential Income
RoofComposition
Senior Community Y/NNo
SewerCity Sewer, Public Sewer
Standard StatusActive
StatusActive
Stories2
Subdivision NamePatio Court Condos
Tax Annual Amount2326
Tax Year2023
Tenant PaysGas, Electricity, Exterior Maintenance
Unit Number1-4
UtilitiesElectricity Available
Year Built1981

Exterior for 3830 Otis St 1-4

Building Area Total6548
Covered Spaces4
FencingPartial
Horse Y/NNo
Lot FeaturesGutters, Lawn Sprinkler System
SpaNo
Water SourceCity Water
Waterfront Y/NNo

Additional Details

Price History

Schools

High School Wheat Ridge High School
Elementary School Stevens Elementary School
Middle School Everitt Middle School

Jon Holsten

Price $1,990,000
MLS#2082472
List Date 08/31/2024
Property Type Income
Phone 970.237.2752
Request Tour
Request Info
Visit My Website

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