DENVER METRO ARVADA DUPLEX $220,000 UNDER ARV WITH SPLIT & FIX

[Burt L.]

After a split and fix, the ARV will be $620,000-$630,000. Investors only - no listing commission or buyers brokers fee will be paid, no exceptions. 

Arvada Brick Duplex near Olde Town Arvada. Larger side is 3/1/2 car with 1130 sq ft. Smaller side is 2/1 measuring 785 sq ft.

Property works as either a split and flip or a rental. Or rent now and split later.

Both sides have replacement windows with vinyl eaves and property is on well water and city sewer so no water bills. Both sides have hardwoods with larger side being carpeted over. Roof is older performing without leaking. Larger side has two-car garage on its side of the smaller unit has a large shed. Smaller side has replacement cabinets.

Lot is 19,000 ft total so over 9,000 per side and the street has light traffic. Not many duplexes have been split in Arvada, so not a great deal of comps but they do well when available, as at 6245 and 6247 W 53rd Ave for much smaller 1bed/1 ba half duplexes for $270K and $275K of just 604 sq ft each on 9,000 ft lots each, in a lessor Arvada neighborhood, as one example. More comps below.

Hard to get into a rehabbed single family near Old Arvada for these prices, so side-by-side ranch duplex is next most desirable construction style as opposed to clusters of close cottages or condos with neighbors above and below, etc.

Splitting into separately salable units is what creates the value and two separate sales. Splitting costs 10K and takes 4-6 weeks, or leave it as a rental. I've split 25 plus multi-family properties and addresses of many prior splits are available, if needed. See the comps below, as each side of the property is different. This property is superior to the comps in lot and location, and superior to most in construction style. Price is $395K . With a split and fix, the ARV is $620-$630K. See detailed comps below.

Phone is 720-295-428nine. Please call for more info, pictures, addresses, etc.

Comps to 3/1/2 car gar side:

6504 Ralston Rd #3 1168 up/500 bsmt. In a 3 plex with $150 mo HOA. 2 car gar. No updated. 2 dom. $342K

5295 Cody St. 1227 ft two story. Half a duplex in HOA of a dozen Duplexes on 3000 ft lot, 1 car gar close to busy 52nd Ave. Not updated, 6 dom. $320K

5270 Cody St. 1226 ft two story. Half a duplex in HOA of a dozen Duplexes on 3000 ft lot, 1 car gar close to busy 52nd Ave. Not updated, 3 dom. $320K

4640 Garland St. 1220 ft ranch, lesser neighborhood, 6 mos old, updated with formica, 1 car gar, 19 dom, $317K.

Comps to 2/1 side:

9780 W 41st Ave. 904 ft ranch, lesser neighborhood and construction style, good update, 7 mos old, no gar, 6 dom, $290K.

9340 W 45th Ave. 827 ft ranch. lesser neighborhood and updated to formica. 7 mos old, no gar, long dom, $285K.

6245 W 53rd Ave. 604 ft ranch, 1 bd, 1 ba,much lessor Graves neighborhood, good fix, 9000 ft lot, 1 car. 20 dom, $275K.

8752 w 46th Ave. 827 ft ranch, lessor neighborhood, flood zone flood insurance required, good fix, no gar, 11 mos old, 5 dom, $275K

6247 W 53rd Ave. 604 ft ranch, 1 bed, 1ba, much lessor Graves neighborhood, 9000 ft lot, good fix, 1 car gar. 28 dom, $270K.

I have this property under a valid contract and am selling a contract to purchase. Good deals are found around a holiday, when other investors are distracted and playing catch-up.