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.

Property Details of 1631 19th Street

Property Details

Exterior Features

Utilities and Appliances

Other Details

Listed by Benjamin Swan of Live West Realty (Benny@livewestrealty.com,303-818-6236)

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