Value Add 16-unit multi-family investment opportunity. Sherwood Forest Apartments is located in the Central Lakes neighborhood of Lakewood at the end of a quiet residential street. Consisting of (2) duplexes, (2) triplexes, and (1) 6-unit, the complex offers a mix of 1-, 2-, and 3-bedroom units with covered patios, decks, and fully fenced backyard space for ground floor units. In-place Cap Rate of 6.38%, approx. 50% of the units have been updated, leaving upside for an incoming purchaser to renovate, increase rents, and stabilize the operations. High historic occupancy levels, vacancies rarely occur.
