Address
3830 Otis Street # 1-4, Wheat Ridge, CO
Price
$ 1,499,900
Property Attributes
- MLS#2082472
- TypeMulti-Family
- Listing Status Active
- CountyJEFFERSON
- CityWheat Ridge
- NeighborhoodPatio Court Condos
- Zip80033
- StyleTraditional
- Year Built1981
- Taxes$ 2326
- Price$ 1,499,900
- Bedrooms8
- Full Bathrooms8
- Half Bathrooms0
- Sqr Footage6548
Data Source:
REColorado (MTOMLS)
Property Description
Welcome to this exceptional quadplex in the desirable Edgewater area, offering a prime investment opportunity with four spacious units, each over 1600 square feet. Something you will not find in any other income property in the surrounding area. Every unit features 2 bedrooms and 2 bathrooms, large kitchen with additional dining area, family room and living room, and their own washer/dryer, designed for comfort and modern living. Stainless Steel appliances finish the modern look of the kitchens, and 4-piece second floor bathrooms provide ample space. The new owner will not have to do anything as recent updates include sleek new flooring, contemporary countertops in the kitchens/baths, and stylish new tile in the kitchen backsplash and bathrooms. Additional upgrades consist of new windows, a newer roof, fresh paint in and out, new gutters, new boilers, and newer privacy fencing. New swamp coolers add to the appeal, providing efficient cooling. New landscaping finishes out the extraordinary upkeep this property has endured. Each unit is equipped with its own detached carport and a one-car garage, along with outside parking ensuring substantial parking. Existing tenants have been leasing for extended periods, and vacancy rates have been zero for over 1 1/2 years and below 2% prior to that. With its blend of updated features and convenient amenities, and great location, this quadplex is a standout property for investors seeking a stable income stream and a well-maintained asset in the Edgewater area.
| Elementary School | Middle School | High School |
|---|---|---|
| Stevens Elementary School | Everitt Middle School | Wheat Ridge High School |
| Price History | |
|---|---|
| 9/1/2024 | Listed $2,100,000 |
| 3/28/2025 | 6$1,990,000 |
| 8/3/2025 | 11$1,775,000 |
| 12/31/2025 | 12$1,575,000 |
| 8/12/2026 | 5$1,499,900 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air |
| Cooling | Evaporative Cooling |
| Utilities | Electricity Connected |
| Possession | Closing/DOD |
| Roof | Composition |
| Appliances | Dishwasher,Disposal,Dryer,Gas Water Heater,Refrigerator,Self Cleaning Oven,Washer |
| Garage Spaces | 4 |
| Patio/Porch Features | Covered,Front Porch |
| Architectural Style | Traditional |
| Security Features | Smoke Detector(s) |
| Construction Materials | Brick,Wood Siding |
| Exclusions | Any/all items owned by current tenants. |
| Year Built | 1981 |
| Tenant Pays | Cable TV,Electricity,Gas,Grounds Care |
| Levels | Two |
| Unit Number | 1-4 |
| Property Subtype | Quadruplex |
| Tax Year | 2023 |
| Ownership | Individual |
| Gross Income | 97608 |
| OwnerPays | Insurance,Taxes,Trash Collection,Water |
| County | Jefferson |
| Operating Expense | 20360 |
| Property Type | Residential Income |
| HOA | No |
| Attached Garage | No |
| Subdivision Name | Patio Court Condos |
| Status | Active |
| High School | Wheat Ridge |
| City | Wheat Ridge |
| Senior Community Y/N | No |
| High School District | Jefferson County R-1 |
| Carport Spaces | 5 |
| Listing Terms | 1031 Exchange,Cash,Conventional,Jumbo |
| Elementary School | Stevens |
| Tax Annual Amount | 2326 |
| Middle/Junior High School | Everitt |
| Property Condition | Updated/Remodeled |
| Structure Type | Quadruplex |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Middle/Junior School District | Jefferson County R-1 |
| Elementary School District | Jefferson County R-1 |
| Cap Rate | 5.58 |
Interior Features
| Interior Amenities | Ceiling Fan(s),Laminate Counters,Walk-In Closet(s) |
|---|---|
| Flooring | Carpet,Vinyl |
| Total Fireplaces | 4 |
| Fireplace Features | Family Room |
| Common Walls | 2+ Common Walls |
| Basement (Y/N) | No |
| Above Grade Finished Area | 6548 |
| Laundry Features | In Unit |
| Total Bedrooms | 8 |
| Total Baths | 8 |
Exterior Features
| Exterior Amenities | Lighting,Private Yard,Rain Gutters |
|---|---|
| Fencing | Partial |
| Parking Features | Asphalt,Concrete |
| Lot Features | Landscaped,Sprinklers In Front |
| Water Source | Public |
| Total Parking | 13 |
| Building Area Total | 6548 |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 80033
Price
Taxes
Year Built
Visits
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