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6675 W 29th Avenue,  Wheat Ridge CO, 80214 ( Sold )

  • Sold Price:
    $630,000
  • 08/25/2017
MLS# 7111089
Source:REcolorado

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Listing Provided Courtesy Of: High Rock Real Estate
Last Updated: 11/20/2017 2:23 AM
Description for 6675 W 29th Avenue,  Wheat Ridge CO, 80214
6 Unit development. All soft costs are completed with exception of water/sewer taps which are planned. Primary lending and GC already in place and ready to lend and build this development for you. Just requires equity capital for acquisition! Planning already complete and submitted to city for permit approval. Existing structure already abated and scheduled/contracted for demo. Total all in costs are roughly $2,686,400 with a back end resale value of $3,474,000 for a 77% ARV leaving a TON of room to either build and sell or build and rent for roughly $3,250/mo or $234,000 annualized gross rent income!! This is a deal with almost all soft costs completed for you already and just awaiting acquisition and development. TWO options for elevations for you to choose from. Land comes with a determined amount of WATER RIGHTS!! Developer ONLY needs to sell in order to reallocate this capital towards a larger development he's pursuing this week!
Price
Sold Price:
$630,000
Sold Date:08/25/2017
Wheat Ridge
Jefferson
7111089
Sold
Description
6 Unit development. All soft costs are completed with exception of water/sewer taps which are planned. Primary lending and GC already in place and ready to lend and build this development for you. Just requires equity capital for acquisition! Planning already complete and submitted to city for permit approval. Existing structure already abated and scheduled/contracted for demo. Total all in costs are roughly $2,686,400 with a back end resale value of $3,474,000 for a 77% ARV leaving a TON of room to either build and sell or build and rent for roughly $3,250/mo or $234,000 annualized gross rent income!! This is a deal with almost all soft costs completed for you already and just awaiting acquisition and development. TWO options for elevations for you to choose from. Land comes with a determined amount of WATER RIGHTS!! Developer ONLY needs to sell in order to reallocate this capital towards a larger development he's pursuing this week!
Listing Information
Property Type: Land
0.92 Acres 40,072
Wheat Ridge
Water Rights, Public Water Service
Public Sewer
Neighborhood
School Information
District: Jefferson County R-1
Exterior / Lot Features
2 Parking Spaces
R-2
Level
Multi-family, Park Adjacent, Paved Road, Level
Financial Considerations
021905
$1,685
2015
Listing Price History

Wheat Ridge Real Estate

Wheat Ridge is located in Colorado. Wheat Ridge, Colorado 80214 has a population of 31,192.

The median household income in Wheat Ridge, Colorado 80214 is $49,003. The median household income for the surrounding county is $69,698 compared to the national median of $53,482. The median age of people living in Wheat Ridge 80214 is 42.5 years.

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Courtesy: Bradford Smith - High Rock Real Estate
Copyright © 2017 REcolorado. All rights reserved. Information is deemed reliable but is not guaranteed.

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