Upset sellers and agents often call to ask why their property didn't make my list.
For some Boulder properties, the problem is location - the #1 factor for long term appreciation. Other times, their asking price is way too high and far out of line with the comps. Maybe the potential tenant mix is severely limited or the previous owner butchered it beyond repair.
The bottom line is that I'm not just a Realtor, I'm also a real estate investor. My goal is to help you make a smarter real estate decision and If I can't see the investment thesis, it simply doesn't make the weekly list.
Every week, I review new Boulder listings and pick the best. For fun, I also regularly include a few notable sales (at the end of this post). Happy real estate shopping.
Note: For photos, you'll need to click the links to More Details. Sophie (my assistant) is on vacation.
To schedule showings (which always includes a discussion of valuation, price trends, and negotiation tactics) - call Osman at 303.746.6896.
Fresh Listings
Boulder
2085 Balsam Dr | Asking $2.7MM | More Details
Unlike most listing hyperbole, this location and view is actually in limited supply. Modern remodel? Also hard to find in Boulder. Add those factors together and you've got a unicorn. If modern, views, and a premium location are on your must have list, call me to go see this one.
465 University Ave | Asking $1.6MM | More Details
This made the list because University (only west of 9th) is a killer location. The open and spacious living spaces in this house are attractive, plus the indoor/outdoor transition is pretty good. The lot size is large. You couldn't come close to building it for the asking price.
1301 Canyon Blvd 206 | Asking $1.3MM | More Details
1301 Canyon Blvd 206 | Asking $1.3MM | More Details
A large lock and leave condo in the epicenter of Boulder. Listing photos sadly don't do it justice. Our last sale in this building was a couple of years ago to a client who absolutely loves the centrality of this location. Due diligence: Review the Boulder Civic Project. There will be changes across the street in coming years.
To schedule showings (which always includes a discussion of valuation, price trends, and negotiation tactics) - call Osman at 303.746.6896.
28 Pine Brook Rd | Asking $929K | More Details To schedule showings (which always includes a discussion of valuation, price trends, and negotiation tactics) - call Osman at 303.746.6896.
Pine Brook is an enclave of mostly higher end homes, just into the lower foothills of Bouldder. The drive is easy and direct. Just hook a turn onto Linden and head up a few minutes. This particular house is a Swiss chalet fantasy. I'd consider it personally because it's interesting and unique (assuming you're not Swiss). Too bad about the lack of a garage, although that's potentially fixable given the large lot size. Worth a look.
1505 Pearl St 111 | Asking $850K | More Details
If you're considering this downtown condo be sure to compare it to 1301 Canyon Blvd #206 (above). Similar quality location, no view but also not exposed to louder noise from traffic on Canyon. You'll stick get plenty though, it's on the ground floor in a busy part of downtown. It's hard to get closer to the nightlife on Pearl, you can practically stumble out your front door and into a bar.
Longmont 1126 3rd Ave | Asking $795K | More Details
West side of Old Town (think Boulder's Mapleton Hill). Walk to funky restaurants, art galleries, and the retro bars on Main. No students and far fewer transient problems than Boulder. A long term value play. Due diligence: This one is right on 3rd, which does get some traffic. A better location would be a few houses away, but this is still worth a look.
Investment Opportunities
1045 11th St | Asking $744K | More Details
Rented at $5250, the cap rate on this is high and the location epic - if you're a CU student. Due diligence: Boulder is cracking down on over occupied rentals and illegal co-ops. What was widely ignored for decades is now starting to meet enforcement. Check occupancy rules, how enforcement actually works, and evaluate your risk carefully.
To schedule showings (which always includes a discussion of valuation, price trends, and negotiation tactics) - call Osman at 303.746.6896.
Sold Listings of Note
1013 Berea Dr | $805K | More Details
Ranch style homes are popular with boomers and other buyers who want living, eating, and sleeping spaces on the same level. This one attracted a bidding war and drove the sale price to $56K over asking. Seller acquired the property in '98 for $230K and did some cosmetic updates. The new Lucky's addition to the Table Mesa plaza adds value to the walkable retail mix.
3601 Arapahoe Ave #301 | $495K | More Details
Peloton condos are some of the best built and quietest available (low noise transfer between units). Frankly, there is no complex in Boulder with better amenities. Because it's so quiet inside, your neighbors will never know if you're home or not. And you shouldn't hear them either. This one, with so-so views, went for $45K over asking or nearly $550/SF.
3150 Iris Ave F-302 | Sold Price | More Details
As a complex, Remington Post is past its prime and desperately needs a remodel. Look past that and you'll find a reasonably well built complex that rents easily and shouldn't require constant cash infusions to keep in good repair. In other words, a solid play for an investor. The buyer paid $20K over asking, or $370,000. Compare that to a smaller 2 bedroom at Gold Run for 10% to 12% more. It's true that Gold Run has a somewhat better location but the tenant mix is also similar at a far lower cap rate. This was a value play. Want this blog via email? Sign up HERE.
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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 conducting rigorous due diligence and obtaining professional advice before buying or selling real estate.
picture: Eniko Polgar
