1938 Spruce St, Boulder, CO 80302
View property features, location on map, relevant school information and overview from seller's agent.
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Overview
Exceptional opportunity to acquire a well-located 5-plex in the heart of Boulder offering substantial upside to market rents and the ability to reduce operating expenses, with the benefit of leases in place through July 2026 providing near-term income stability. Opportunities with this combination of location, unit mix, and flexibility are increasingly rare in Boulder's supply-constrained market.The property consists of a detached single-family residence in the front and a four-unit building in the rear, creating privacy, operational flexibility, and strong tenant appeal. The unit mix is ideally suited to Boulder's rental demand, comprising one one-bedroom unit, and four two-bedroom units. Several units have been recently remodeled, positioning the property for future rent growth while limiting immediate capital expenditures.With five off-street parking spaces and a central location near downtown Boulder, the University of Colorado, dining, and trail systems, the property benefits from consistently strong rental demand. Current leases run through July 2026, offering predictable cash flow while creating a clear runway for a buyer to implement a thoughtful rent and expense optimization strategy at rollover.This offering represents a rare chance to secure a scalable Boulder multifamily asset with in-place income, long-term appreciation potential, and compelling value-add upside.
Location
Full feature list
Basic info
- Property type
- Multi-family
- Lot size (acres)
- 0.17
- Year built
- 1934
Utilities
- Heating
- Baseboard
- Sewer
- Public sewer
- Water
- Public
Taxes
- Tax Annual Amount (2024)
- $12,436
Public schools
Disclaimer: Certain information displayed on this listing has been derived from parties other than Final Offer, LLC. Information provided and their sources have been deemed reliable, but accuracy of information is not guaranteed and therefore should be independently verified.
Sourced from: IRES MLS MLS®#: 1049294 Last checked: …

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