Friday, April 01, 2016

A Telecom Exec's Trophy Home and Multifamily Investments [Fresh Listings, Get 'Em Hot]


We've scoured through the new real estate inventory. We culled the recycled listings, the bad locations, and the egregiously overpriced. Here's the best of the bunch. 

What's worth looking at this weekend? Call your agent. It's time to schedule a showing. 

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



Boulder 


8932 Mountain View Lane | $5,700,000 | More Details
How would you like to use a different bathroom every day of the week? Here's your chance.  

8932 Mountain View is a sprawling mansion in unincorporated Boulder County boasting over 14,000 square feet and 10 bathrooms. It has killer views, although the train runs nearby. The location has easy access to Boulder and high tech jobs along US36. The lot backs to City owned Open Space. Close to retail at 95th and Arapahoe. 5 car attached garage for the toys. The seller is one of the founders of Level 3 (one of my old equities research universe companies). Due diligence: Confirm the "open space" is not really a "planning reserve" before submitting. 



540 Iris Avenue | $1,095,000 | More Details
Value proposition: a large lot in Newlands on a quiet street with a house of little historic value. Due diligence: visit the planning department and confirm the lack of historic interest by the City before closing. You never know, this could have been a one-time summer residence of the guy who invented the question mark, necessitating extensive city staff time and outside consultants to research the history of punctuation. The end result could be adverse landmarking.  Believe me, you don't want to end up like these people







655 S 46th Street | $975,000 | More Details
Great location - far enough from most student rentals, very easy access to the Table Mesa PNR and shopping. A quick bike ride downtown. This (visually) well executed pop checks the right boxes. Due diligence: Price points for popped and remodeled homes in Martin Acres are now approaching the $1MM range. Check out the beautiful, soon to be completed home by Brian Fuentes on 33rd for a comp. The permit value for that home alone was north of $900K. Also, consult with legal counsel and make sure you understand what rights you’re giving up when you sign the builder’s warranty (a listing agent requirement for submitting offers).




1195 Berea Drive | $875,000 | More Details
We’ve sold several houses on this street in recent years. It’s a very nice part of Boulder. Viele Lake, the SoBo rec center, and Table Mesa shopping center are all within walking distance. The best rated public schools in the city. Generally, the outside of the circle is preferred for larger lot sizes. Due diligence: Check for mold sensitivity and proper repairs from the flood in September 2013. Also, say hello to the neighbors for us. They're good peeps. Negotiation Tip: The listing agent is a straight shooter. We just closed a deal with her last week. 




2335 Hillsdale Way | $849,900 | More Details
If you go by the appreciation rate alone, this house is a value investment. It last sold in July 2013 at $730K. At the asking price, you’re looking at only ~5.6% per year of gain during a time period when the city experienced double digit appreciation. The interior could use some updates. The location within Table Mesa is solid. Side note:  The listing agent is a pro with a mean kickball pitch. 







726 Pearl Street B | $679,000 | More Details
Under $800K for a 2 bedroom, ~1300SF townhome in the heart of downtown Boulder. HOA is only $175/month and you even get a parking spot. 'Nuff said. 











4896 McKinley Drive | $675,000 | More Details
The Arapahoe Ridge neighborhood features larger lots and a pocket park which attracts mostly neighbors (as opposed to the drunken transients who like to hang out in many City parks). The hospital is nearby, which should help long term appreciation. At $675K, this is a value play and will likely exceed asking but save some budget for remodeling. Due diligence: Moisture from the 2013 flood. Check for mold and proper mitigation/repairs. 










1285 Albion Road | $650,000 | More Details
This is the entry level for Table Mesa. Quiet street, basic ranch with a full basement. Gillaspie is nearby which does get some traffic but that negative is offset by the park, Viele lake, and rec center.










2930 Shadow Creek Dr #305 | $369,000 | More Details
We’ve helped several clients buy and sell in Gold Run over the years. Value is driven by proximity to CU, 29th Street shopping area, and central Boulder. It’s also right on the Boulder Creek path. Within the complex, you'll want a top floor unit with garage parking and an elevator. This one checks the box for a top floor but lacks the other two. Due diligence: Special assessment for fire suppression system.  Noise transfer between units (meet the adjacent unit residents). Also, investment ownership is more than 50% so you're looking at a likely portfolio loan or more money down. 






Louisville

339 Bobolink Court | $519,900 | More Details

A nice ranch style house with a full basement, built in the late 80’s in a great part of Louisville. We’ve sold a few of this model over the years. The vaulted ceilings make the living areas feel more spacious than the square footage would suggest. The walkability to downtown means you can stumble home from the Street Faire. 




Erie

2829 Prince Circle | $550,000 | More Details
The selling points are the spectacular view, updated kitchen, great family friendly layout, and a location nestled deep into the neighborhood. The listing agent obsessed over the sold comps and carefully evaluated the current competitors. It's priced right. Full disclosure: This is our listing. Open House is Saturday 4/2 from 2pm to 4pm. Multiple offers likely.   









Longmont 

4322 Bella Vista Drive | $478,000 | More Details
Would you be my neighbor? Delivery drivers get lost, but the private park is a worthy trade. It's like having a huge lawn that someone else waters and mows. Full of families and kids run rampant all over the neighborhood. It takes about 20 minutes to drive to downtown Boulder, about the same to the new Googleplex. Due diligence: I personally bought an investment property a few houses down from this listing at the end of last year. I’m a believer in this location's long-term appreciation potential. When Whole Foods opens late this year, it'll be too late to get in. Yes, despite all the new houses going in. 




7298 Mount Meeker Road | $400,000 | More Details
Ignore the Longmont address, this house is really part of Gunbarrel. Great location with nearby open space. Affordable at the asking price. 







Investment Opportunities

513 Terry Street | $2,575,000 | More Details
18 Units in a location that will very likely continue to appreciate and gentrify. Expect the rent to increase markedly in coming years. 









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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.  


Image credit:  Darren Bockman

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