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Adam Gillespie

adamgillespie303@gmail.com +1(720) 789-4658

$ 700,000

Est. payment | -/mo

8 Beds

4 Baths

3,480 SqFt

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$ 700,000

Est. payment | -/mo

Save Virtual Tour

8 Beds

4 Baths

3,480 SqFt

Key Details

Property Type Multi-Family

Sub Type Quadruplex

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 3,480 sqft

Price per Sqft $201

Subdivision Sherrelwood Estates

MLS Listing ID 6666638

Bedrooms 8

HOA Y/N No

Abv Grd Liv Area 3,480

Year Built 1973

Annual Tax Amount $5,609

Tax Year 2025

Lot Size 8,140 Sqft

Acres 0.19

Property Sub-Type Quadruplex

Source recolorado

Property Description

Discover a smart investment opportunity with this low-maintenance brick 4-plex. Whether you're a seasoned investor seeking dependable cash flow with room to grow or a savvy buyer ready to take advantage of owner-occupied lower interest rates by living in one unit and renting out the others, this property checks all the boxes. This well-kept property offers four spacious 2-bedroom, 1-bath units, each designed with a functional layout, abundant natural light, and comfortable living spaces that tenants appreciate. The property has seen recent updates, including modern flooring and refreshed kitchen and bath finishes in one unit, along with additional improvements throughout. These upgrades support strong rental appeal while leaving room for future value-add opportunities. With current rents below market and projected increases up to $1,500 - $1,550 per unit, investors can unlock greater income potential over time. Each unit includes desirable features such as in-unit laundry, dishwashers, refrigerators, and range ovens. Separate gas and electric meters make management simple, while tenants pay their own utilities. The property also includes central air or evaporative cooling and forced air heat. Situated on a 0.19-acre lot with 7 total parking spaces, including off-street and carport options, this property offers convenience for residents. Its location near public transit and with a walk score of 75 adds to tenant demand and long-term stability. With a current cap rate of 6% and projected cap rate near 8%, this is a strong option for investors seeking steady income and upside potential. Whether expanding your portfolio or entering the multifamily market, this property delivers a balanced mix of stability and growth.

Location

State CO

County Adams

Zoning P-U-D

Interior

Interior Features Ceiling Fan(s), Laminate Counters

Heating Forced Air

Cooling Central Air, Evaporative Cooling

Flooring Carpet, Laminate

Fireplace N

Appliance Dishwasher, Oven, Range, Refrigerator

Laundry In Unit, Laundry Closet

Exterior

Exterior Feature Rain Gutters

Fence None

Utilities Available Electricity Connected, Natural Gas Connected

Roof Type Composition,Other

Total Parking Spaces 7

Garage No

Building

Lot Description Level, Near Public Transit

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Frame

Schools

Elementary Schools Coronado Hills

Middle Schools Thornton

High Schools Thornton

School District Adams 12 5 Star Schl

Others

Senior Community No

Ownership Individual

Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, VA Loan

Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan

Special Listing Condition None

Virtual Tour https://www.zillow.com/view-imx/b55fce5a-bde5-46b6-9b89-5799055fb196?setAttribution=mls&wl=true&initialViewType=pano

Listed by Realty Professionals LLC

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(720) 789-4658

adamgillespie303@gmail.com

8325 Fox ST Denver, CO 80221

Adam Gillespie

Key Details

Location

Interior

Exterior

Building

Schools

Others

Nearby Locations

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8325 Fox ST