For Sale Commercial MLS# 4515025

1631 19th Street

Boulder, CO 80302

$4,200,000

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About 1631 19th Street

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

Property

Type
Multi Family
MLS type
Commercial Sale
Status
Active
Year built
1900
Lot
0.27 AC / 11,880 SF
MLS #
4515025

Exterior & lot

Features
Balcony
Roof
Composition
Lot
Corner Lot, Irrigated, Landscaped, Near Public Transit, Sprinklers In Front, Sprinklers In Rear
Parking
Asphalt

Utilities

Water
Public
Sewer
Public Sewer

Financial

Annual tax
$17,928
Parcel
R0008796

Location

County
Boulder
Directions
Google Maps

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Listed by Benjamin Swan, Live West Realty

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