Friday, February 12, 2016

Horse Property, Historic Charmers, and Chic Urban Flats [Fresh Listings, Get' Em Hot]


58 Shiny new listings hit the Boulder real estate market this week. What’s worth seeing? Let’s find out.

5 are already under contract. Snooze you lose.

9 are sneaky refreshed inventory. Sorry listing agents, old is old.

32 are in bad locations, overpriced, have poor investment potential, or are uninteresting. In other words, I wouldn’t buy them. That leaves just 12 worth seeing.


To schedule a private showing, which includes a discussion of negotiation tactics, valuation and price trends, call Osman at 303.746.6896.



Boulder 

4048 57th Street | $1,795,000 | More Details
Just north of Boulder Airport and South of Jay Road, nestled among other high end homes. Parcel to the north appears to be protected from further development by a conservation easement. Unincorporated Boulder County (tax savings, less onerous building restrictions) and minutes from the City of Boulder. Some elements of the property are showing their age (turquoise trim?) but worth a look. 

 




1775 Deer Valley Road | $1,695,000 | More Details
We’ve already taken several buyers to see this coveted patch of dirt. The perch itself has a spectacular view, no doubt but expect a full build-out (including the land purchase) to end up in the low $3MM’s. Due Diligence: The spectacular build location can only be preserved if the peak of the existing structure is preserved during construction. Verify this during due diligence period with your own architect (call us for recommendations) and the Boulder Building Department.
 



2 Bedroom Luxury Condo | $XXX,XXX
One of my clients wants to buy this unit. It’s a luxury 2 bedroom condo in a terrific location. Expected development and a neighborhood development plan make this a solid bet for the long-term. Some of my favorite restaurants in Boulder are next door!   Offer underway!






2227 16th Street | $1,150,000 | More Details
This one is almost turn-key. With a few minor cosmetic updates, you’ve got a historic, charming house in the very heart of downtown Boulder. Fly in for a visit, shop on the mall, dine in the foodie restaurants, end the night with billiards against the locals at the Slum Downer and stumble home without an Uber. Due Diligence: What you see is what you get. Don’t expect to be able to make any additions to the property due to the tiny lot and historic interests.







1946 Beacon Ct | $878,500 | More Details
These Beacon Court houses are always popular with buyers. The location is desirable (on the West End) and with this one, you get a two car garage. It’s already been on the market for 5 days, so don’t delay in seeing it if you’re interested. These houses are rarely available. Due Diligence: Check for traffic noise tolerance from Canyon.






1 Bedroom Condo Downtown | $XXX,XXX
Here's a surprisingly inexpensive entry to downtown Boulder real estate. Nearby future development (BCH) will almost certainly lock in long term investment potential. Current cap rate is 4.6% (minus the management fee) and the existing tenant wants to stay. The only hair on the dog is the limited financing due to the mixed use at the complex. Portfolio loans limit the buyer pool. One of my clients might want to buy it, so we’re redacting the information (we don’t need any more competition). 


3481 Cripple Creek Sqaure #17E | $444,900 | More Details
Shanahan Ridge has always been one of my favorite locations. Open space trails are directly adjacent to the complex. The best rated schools in Boulder are nearby. Many of the units still have romantic wood burning stoves (like this one). You’ll need it to offset the horribly expensive electric baseboard and poor insulation. Updated units with upper decks and southern exposures go for a premium.    How much of a premium?   Call me.  303.746.6896





3800 Colorado Avenue A | $600,000 | More Details
The investment thesis for this property is that you’re acquiring a relatively low maintenance town home with four bedrooms directly across from the research side of CU. That should result in a pretty good tenant mix (serious students, professors, researchers). It’s also very easy to hop on a bike path to head to downtown Boulder or get on Foothills Parkway to drive to work in Denver or to jobs along the Tech Corridor. See it this weekend, offers are due Tuesday morning. 






1850 Folsom Street 407 | $439,000 | More Details
This one is a no-brainer for investment purposes. When constructed in the 1970’s, this building was an impetus for the 4 story height limit. Updates to common areas are in the works. Lock and leave, enjoy the west facing view. In the heart of the action for Boulder. The carport is a bit of a bummer. This particular unit needs a remodel.






2800 Sundown Lane 206 | $359,000 | More Details
When they’re not catching on fire, units at Gold Run have made very good investments for our clients. Nestled just north of the campus, on the bike path, near Scott Carpenter Park and the 29th Street Mall shopping area. Due Diligence: Student density is high, special assessments are underway or imminent.






5920 Gunbarrel Avenue B | $326,500 | More Details
A low cost and friendly community just north of the the City. Our clients who live here love it. This is one of two currently available in Powderhorn. If you’re shopping, I know of another that will soon be available. Call me.


 


Lafayette 

8600 Baseline Road  | $2,900,000 | More Details
This large estate, just east of the quiet Nyland Co-Housing Community is buffered by open space. It’s rare to see 33+ acres become available within minutes of the City. Close to Boulder and even closer to charming downtown Lafayette and Louisville.  The interior of the home is dated and could use a refresh, but the layout and elevation are classic. The barns and pastures make this particularly appealing to horse lovers.  


 




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The ideas and strategies described in this blog are the opinion of the writer and subject to business, economic, and competitive uncertainties.   We strongly recommend rigorous due diligence and professional advice before buying or selling real estate.    Powered by Realty Unique, LLC.


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