Wheat Ridge, CO 80033 3830 Otis Street # 1-4

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Presented By: The Old Country Real Estate Group LLC; 720-724-3933
  • MLS# 2082472
  • 08/31/2024
Disclaimer: The information contained in this listing has not been verified by Worth Clark Realty and should be verified by the buyer.
  • 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 Street # 1-4

Bedrooms

Total Bedrooms8

Bathrooms

Total Baths8

Other Interior Features

Above Grade Finished Area6548
Basement (Y/N)No
Common Walls2+ Common Walls
Fireplace FeaturesFamily Room
FlooringCarpet, Vinyl
Laundry FeaturesIn Unit
Total Fireplaces4

General for 3830 Otis Street # 1-4

AppliancesDishwasher, Disposal, Dryer, Gas Water Heater, Refrigerator, Self Cleaning Oven, Washer
Architectural StyleTraditional
Attached Garage No
Cap Rate4.18
Carport Spaces5
CityWheat Ridge
Construction MaterialsBrick, Wood Siding
CoolingEvaporative Cooling
CountyJefferson
Elementary SchoolStevens
Elementary School DistrictJefferson County R-1
ExclusionsAny/all items owned by current tenants.
Exterior FeaturesLighting, Private Yard, Rain Gutters
Garage Spaces4
Gross Income92400
HeatingForced Air
High SchoolWheat Ridge
High School DistrictJefferson County R-1
Home Owner AssocNo
Interior FeaturesCeiling Fan(s), Laminate Counters, Walk-In Closet(s)
LevelsTwo
Middle/Junior High SchoolEveritt
Middle/Junior School DistrictJefferson County R-1
Occupancy TypeTenant
Operating Expense20360
OwnerPaysInsurance, Taxes, Trash Collection, Water
Patio/Porch FeaturesCovered, Front Porch
Percent OwnershipIndividual
PossessionClosing/DOD
Property ConditionUpdated/Remodeled
Property SubTypeQuadplex
Property TypeResidential Income
RoofComposition
Security FeaturesSmoke Detector(s)
Senior Community Y/NNo
SewerPublic Sewer
Standard StatusActive
StatusActive
Structure TypeQuadruplex
Subdivision NamePatio Court Condos
Tax Annual Amount2326
Tax Year2023
Tenant PaysCable TV, Electricity, Gas, Grounds Care
Terms1031 Exchange, Cash, Conventional, Jumbo
Unit Number1-4
UtilitiesElectricity Connected
Year Built1981

Exterior for 3830 Otis Street # 1-4

Building Area Total6548
FencingPartial
Lot FeaturesLandscaped, Sprinklers In Front
Parking FeaturesAsphalt, Concrete
Total Parking13
Water SourcePublic

Additional Details

Price History

Schools

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

Worth Clark

Price $2,100,000
MLS#2082472
List Date 08/31/2024
Property Type Multi-Family
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