Homes for sale - 350 Arapahoe AVE #6, Boulder, CO 80302

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Bill Watson

bill@watsonrg.com +1(303) 842-0836

$235,000

Est. payment - /mo

2 Beds

2 Baths

851 SqFt

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UPDATED:

12/24/2024 08:11 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Coming Soon

Purchase Type For Sale

Square Footage 851 sqft

Price per Sqft $276

Subdivision Arapahoe West Condos

MLS Listing ID IR1023681

Bedrooms 2

Half Baths 1

Three Quarter Bath 1

Condo Fees $450

HOA Fees $450/mo

HOA Y/N Yes

Abv Grd Liv Area 851

Originating Board recolorado

Year Built 1975

Annual Tax Amount $711

Tax Year 2023

Property Description

Discover an exceptional investment opportunity at a competitive price point in the heart of Boulder. Ideal for a variety of uses - including an investment property, second homes or student housing - this residence marries affordability with the coveted Boulder lifestyle. The home backs to serene open space, offering a tranquil setting paired with modern amenities. Hardwood floors grace the main level, which features a remodeled kitchen with sleek Corian counters, a cozy wood-burning fireplace and a convenient powder room. Upstairs, the primary bedroom boasts a private balcony overlooking open space, while a beautifully remodeled bathroom with a skylight adds charm. A finished attic with built-in shelves and another skylight provides versatile storage or creative space. This property's affordability is due to a land lease making it ideal for buyers seeking to maximize value. Cash purchase requested. With Airbnb allowed, this condo offers incredible income potential and lifestyle flexibility. The buyer will purchase the building while leasing the land beneath it until 2073, paying an annual ground rent due every October 1. This ground rent adjusts according to the Consumer Price Index (CPI) and the appraised value of the land with appraisals conducted every five years and has a cap of either 12% of the appraised value or no more than a 50% increase. On october 1, 2024 the initial ground rent was $23,860.74 and the readjusted value after appraisal for additional rent was $11,930.37 due on December 20, 2024.The buyer will also have the right to purchase the real property after 2037. At closing, the prorated ground rent will be credited to the seller and debited to the buyer.

Location

State CO

County Boulder

Zoning RES

Rooms

Basement None

Interior

Interior Features Eat-in Kitchen, Open Floorplan, Vaulted Ceiling(s)

Heating Baseboard

Flooring Wood

Fireplaces Type Living Room

Fireplace N

Appliance Dishwasher, Dryer, Oven, Refrigerator, Washer

Exterior

Exterior Feature Balcony

Fence Fenced, Partial

Utilities Available Cable Available, Electricity Available, Natural Gas Available

View Mountain(s)

Roof Type Composition

Building

Lot Description Open Space

Sewer Public Sewer

Water Public

Level or Stories Two

Structure Type Wood Frame

Schools

Elementary Schools Flatirons

Middle Schools Manhattan

High Schools Boulder

School District Boulder Valley Re 2

Others

Ownership Individual

Acceptable Financing Cash

Listing Terms Cash

Pets Allowed Cats OK, Dogs OK

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Listed by milehimodern - Boulder • 7203238460

"Many agents say they put their client’s needs first, but the Watson Realty Group are on a mission to actually do it by providing their clients several GUARANTEE programs that take the risk out of selling or buying a home. We are passionate about providing these guarantees, and at the same time making each of our clients feel as though they are our only client. We Live Here, We Work Here and We are Here to Serve You! "

+1(303) 842-0836

bill@watsonrg.com

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350 Arapahoe AVE #6 Boulder, CO 80302