Current Colorado Real Estate & Development Happenings from 12/09/2015

Development in the Denver|Boulder|Northern Colorado Metro areas is exploding!  It’s so hard to keep up with it all, so we’re here to do the research for you.  Here’s a summary of some of the latest Colorado real estate and development happenings as it relates to residential, multifamily and small investment real estate.  Want to subscribe to our e-updates?  Do you need or want to stay in the know? Email us your contact info…we’ll add you to our list for our e-letter (coming soon!).

New Apartment | Southeast Denver, Colorado 80231
Gelt, Inc. bought 3300 Tamarac, a 564-unit apartment community in southeast Denver. The Los Angeles-based firm paid $74 million, or about $131,000 per unit, to TruAmerican Multifamily. 3300 Tamarac is located on Tamarac Drive just north of East Hampden Avenue.   Full Article Here

Redevelopment | Boulder, Colorado 80026
Susan Weems is proposing to develop Hearteye, an 82-acre residential mixed-use project in north Lafayette. Pending approvals from the City of Lafayette, the site on Arapahoe Road west of US-287 would contain a mix of 462 units of for-sale and for-rent housing, plus 10,000 square feet of retail space.  Full Article Here

New Development | Longmont, Colorado 80501
Elacora bought 88 lots in the Provenance subdivision in northeast Longmont. The company is the home-building subsidiary of Real Capital Solutions. It paid Lennar $3,256,000, or $37,000 per lot, for the property. Provenance is located on Sundance Drive south of Colorado Highway 66. Elacora expects to build houses in partnership with Mountain Vista Homes selling at prices starting in the low-$400,000s.   Full Article Here

Redevelopment | Southeast Denver, Colorado 80014
The Bascom Group bought Axis at Nine Mile Station, a 336-unit apartment property at 3257 South Parker Road in southeast Denver. The 35-year old property was acquired for $50,250,000 from Security Properties, a price that equates to about $149,000 per unit. As the name indicates, the property is near RTD’s Nine Mile bus and light rail station. The seller was represented by ARA Newmark brokers Jeff Hawks and Terrance Hunt.  Full Article Here

Washington Park Income/Investment Property (3 units/Triplex) FOR SALE Denver, Colorado Craftsman Bungalow

Washington Park – Denver, CO 80209 – Income Property in a 10+ Location

This classic Craftsman Bungalow is SOLD – 1 block from Washington Park.  There could not be a better Denver location for an income property!  The property has an artsy, Zen-like feel.  It has had a lot of renovation done in recent years, but needs a little more TLC to get it in tip-top shape.  Most recent improvements done were: a new water heater and hot water/radiant floor heating system.

This Wash Park home boasts almost 3,000 square feet, 5 bedrooms, 3 bathrooms, wood floors, original built-ins, a beautiful sunroom addition, 2 car garage, 3 full kitchens, stainless steel appliances, mountain views, fully fenced yard, rooftop deck, and so much more.

Want to live in Washington Park, but can’t afford a home like this of your own?  This could be the perfect property for you.  Why not let your tenants pay the majority of your mortgage?  The previous owner rented the units out as short-term vacation rentals…definitely something to consider when analyzing your investment options.  This home would be a terrific investor opportunity for immediate positive cash flow.  Call me to discuss how we can help you develop the perfect real estate investment strategy for you and your future!

Are you ready to see the property?  Call us for a showing at: 303-534-5000 Rachel Betz Real Estate