Overview
Marcus & Millichap is pleased to present 10760 W. 8th Ave & 10765 W. 7th Pl, a 12-unit property located in Lakewood, CO. This well-maintained multi-family asset offers an excellent opportunity for both seasoned and first-time investors. Situated in a highly desirable location, the property benefits from strong demand in the Lakewood rental market, providing potential for stable cash flow and long-term appreciation.The convenient access to major roadways, including I-70, make it an attractive option for residents. Additionally, the location provides easy access to a variety of nearby retail, dining, and entertainment options, as well as proximity to outdoor recreational opportunities such as parks and hiking trails. With a strong rental history and solid occupancy rates, 10760 W. 8th Ave & 10765 W. 7th Pl presents a rare opportunity to acquire a well-positioned asset in a growing market. The property's strong fundamentals, combined with the potential for value-add improvements and rent increases, make this a compelling investment opportunity.
Investment Highlights
High Performing Market with Low Supply
While Denver's significant inventory expansion in recent years led to higher vacancies metro-wide, the Lakewood/West Denver submarket has been less impacted due to inventory expansion of just 1.4% which is 66% percent less than the metro-wide average. Rent growth in the coming years is likely to be stronger in submarkets with tighter vacancy rates and less future competition.
Low Vacancy Rates
Stabilized vacancy rates in Lakewood are significantly lower than the Denver MSA average. Over the last five years, Lakewood has achieved a trailing average vacancy rate of 5.4%. In 2024, vacancy rates in this submarket remained over 100 basis points lower than the metro wide average. Lakewood maintains the third lowest vacancy rates in the Denver MSA at just 7.8%.
An Affordable Option with Excellent Proximity to Employment
Lakewood is home to a diverse range of industries and businesses including tech, government, finance, and aerospace. Additionally, Lakewood's proximity to Downtown Denver coupled with more affordable housing options—average market rents being more than $100 lower than the Denver MSA average—creates a significant demand driver for cost sensitive renters.
Popular Dining, Retail, Entertainment and Other Recreation
Lakewood hosts numerous shopping centers, restaurants, and entertainment options and offers residents direct access to numerous parks, trails, and the Rocky Mountains. demand driver for cost sensitive renters.
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