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$ 4,200,000
Est. payment /mo
Active
1631 19th ST Boulder, CO 80302
0.27 Acres Lot
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 blocks from Pearl Street and CU Boulder, 1631 19th St offers a rare opportunity to acquire a 7-unit, 21-bedroom multifamily property in Boulder's desirable Goss Grove neighborhood. The property totals approximately 7,400 SF and features two 2BR units, three 3BR units, two 4BR units, and 12 off-street parking spaces.
Significant value-add potential remains across six units. Unit #1 was renovated in 2025, providing a proof of concept for the proposed improvements. The renovation strategy includes interior upgrades, in-unit laundry, and floorplan modifications to increase the property from 21BR/10BA to 23BR/12BA. Proposed improvements include additional bathrooms in Units #3 and #4 and bedrooms in Units #4 and #7. Property management projects approximately 34% growth in stabilized base rental income following renovations, with a $390K estimated budget ($65K/unit).
Ownership has invested approximately $300K in exterior capital improvements over the past five years, including roof, windows, siding/insulation, exterior staircases, and bathroom exhaust systems. These improvements allow future capital to focus primarily on interior renovations.
At the $4.2M offering price, the property features a 5.58% stabilized as-is cap rate, based on $234,242 in NOI. Following renovations, the model projects $338,003 in stabilized NOI and a 7.36% unleveraged yield on total cost, including the $390K renovation budget. The property has historically achieved full pre-leasing and offers investors a compelling combination of income potential, renovation upside, and a central Boulder location.
Projections are subject to permitting, renovation execution, lease timing, and buyer verification. No assumable loan or seller financing.
Significant value-add potential remains across six units. Unit #1 was renovated in 2025, providing a proof of concept for the proposed improvements. The renovation strategy includes interior upgrades, in-unit laundry, and floorplan modifications to increase the property from 21BR/10BA to 23BR/12BA. Proposed improvements include additional bathrooms in Units #3 and #4 and bedrooms in Units #4 and #7. Property management projects approximately 34% growth in stabilized base rental income following renovations, with a $390K estimated budget ($65K/unit).
Ownership has invested approximately $300K in exterior capital improvements over the past five years, including roof, windows, siding/insulation, exterior staircases, and bathroom exhaust systems. These improvements allow future capital to focus primarily on interior renovations.
At the $4.2M offering price, the property features a 5.58% stabilized as-is cap rate, based on $234,242 in NOI. Following renovations, the model projects $338,003 in stabilized NOI and a 7.36% unleveraged yield on total cost, including the $390K renovation budget. The property has historically achieved full pre-leasing and offers investors a compelling combination of income potential, renovation upside, and a central Boulder location.
Projections are subject to permitting, renovation execution, lease timing, and buyer verification. 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
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed byLive West Realty