6
See all 6 photos
$825,000
Est. payment /mo
8 Beds
4 Baths
3,000 SqFt
New
5410 W 3rd Denver, CO 80226
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Steve Prewitt - Investing In Colorado Real Estate
steve@investingincoloradorealestate.com +1(719) 439-0241UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,000 sqft
Subdivision Neagle Addition
MLS Listing ID IRE7782631
Bedrooms 8
HOA Y/N No
Year Built 1962
Annual Tax Amount $5,084
Tax Year 2025
Source ires
Property Description
5410 W 3rd Pl is a stabilized four-unit multifamily property in Lakewood, Colorado, offering immediate cash flow and strong rent growth potential. The asset is priced at a 5.36% current cap rate with projected expansion to 6.68% in Year One, driven by rent normalization rather than renovations. Current NOI of $44,213 is projected to increase to $55,092, representing approximately 25% growth through loss-to-lease burnoff. The property features a 100% two-bedroom unit mix with average rents of $1,300 compared to modeled market rents of $1,600, providing a clear path to increased revenue. Located in a mature West Denver rental corridor with strong commuter access and limited multifamily supply, the property offers stable income, near-term yield growth, and long-term appreciation potential.
Location
State CO
County Jefferson
Community Neagle Addition
Area Metro Denver
Interior
Heating Forced Air
Exterior
Parking Features Off Street
Garage Spaces 6.0
View Y/N No
Roof Type Other
Garage Yes
Building
Sewer Public Sewer
Level or Stories One
Structure Type Other
New Construction false
Schools
Elementary Schools Deane
Middle Schools Alameda Int'L
High Schools Jefferson Dist R-1
School District Jefferson Dist R-1
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition Private Owner
Listed by Charles Burkhart
NEARBY SCHOOL & BUSINESS
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