Neighborhood: East Lakewood (elk), 26 - Lakewood East
We are pleased to present the Pioneer Townhomes, a 9-unit apartment community in Lakewood. This building is being sold by the developer who has owned the property since it was constructed in 1988. The building comprises three 3BD/2.5BA, one 3BD/2BA, and five 2BD/2BA townhomes. Each unit has an attached 2-car garage, a balcony (most units), individual water heaters, in-unit laundry, and central air & heat. Six of the nine units have been heavily renovated with granite countertops, new kitchen cabinets, and vinyl wood flooring. In addition, all of the air conditioning units have been replaced, and the exterior has recently been painted. This is a well-kept asset that offers an investor the opportunity to purchase a 4.5% in-place cap with proven upside in rental income.