REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.

In-PersonVirtual Tour

William Watson

bill@watsonrg.com +1(720) 463-0002

$4,200,000

Est. payment - /mo

0.27 Acres Lot

Save Virtual Tour

UPDATED:

Key Details

Property Type Multi-Family, Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

MLS Listing ID 4515025

HOA Y/N No

Year Built 1900

Lot Size 0.273 Acres

Acres 0.27

Property Sub-Type Multi Family

Property Description

Located just blocks from Pearl Street and CU Boulder, 1631 19th St presents a rare opportunity to acquire a 7-unit, 21-bedroom multifamily property in Boulder's highly desirable Goss Grove neighborhood. The property totals approximately 7,400 SF and features a diverse unit mix of two 2BR units, three 3BR units and two 4BR units, along with 12 off-street parking spaces.

Significant value-add potential remains across six of the seven units. Unit #1 was recently renovated, successfully demonstrating the renovation strategy and achievable rental premium. The proposed renovation plan for the remaining units includes interior upgrades, adding in-unit washer/dryers, and strategic floorplan modifications that would increase the property from **21 bedrooms / 9 bathrooms to 22 bedrooms / 11 bathrooms**. Property management projects approximately 17% rent growth following renovation and stabilization, with an estimated renovation budget of approximately $390K ($65K/unit) for the remaining six units.

Ownership has also invested approximately $300K in recent exterior capital improvements, including roof, windows, siding/insulation, exterior staircases and bathroom exhaust systems, providing a strong infrastructure foundation for the next owner while allowing future capital to be focused primarily on the interior value-add opportunity.

Current NOI is approximately $235,630, with projected stabilized NOI of approximately $329,229 following execution of the renovation strategy. The property has historically achieved full pre-leasing and offers investors a compelling combination of current cash flow, proven renovation upside and an irreplaceable central Boulder location.

No assumable loan or seller financing.

Location

State CO

County Boulder

Zoning RH-2

Exterior

Exterior Feature Balcony

Waterfront Description Public

Roof Type Composition

Private Pool No

Building

Lot Description Corner Lot, Irrigated, Landscaped, Near Public Transit, Sprinklers In Front, Sprinklers In Rear

Sewer Public Sewer

Water Public

Others

Tax ID R0008796

Virtual Tour https://my.matterport.com/models/CQwvnHpjfSW

Read Less Info

Listed byLive West Realty

Nearby Locations

"Many agents say they put their client’s needs first, but the Watson Realty Group are on a mission to actually do it by providing their clients several GUARANTEE programs that take the risk out of selling or buying a home. We are passionate about providing these guarantees, and at the same time making each of our clients feel as though they are our only client. We Live Here, We Work Here and We are Here to Serve You! "

+1(720) 463-0002

bill@watsonrg.com

CO, USA

GET MORE INFORMATION

QUICK SEARCH

1631 19th ST Boulder, CO 80302