Property Overview
Historic Charmer in Wheat Ridge! Super low inventory in the area – very quick turn overs!
This 3-bed, 2-bath, 2,071 sq. ft. property in Olinger Gardens is the perfect investment for your next flip! Built in 1930, this property has great bones but needs a full renovation to match the nearby comps.
Walk up the front porch stairs and enter the living room with a wood-burning fireplace. The main floor has an abundance of natural light, an open living room and kitchen layout, two bedrooms, and one bathroom, as well as an additional enclosed sunroom area that can be used as an office or flex space. Through the kitchen is the entrance to the basement and the back door to the backyard. The basement is framed out and has two bedrooms and the second bathroom might not look like much now – yet the sky’s the limit! The backyard has a detached garage and outdoor parking spaces with an alleyway entrance.
We’ve estimated a $95K renovation budget, covering everything from new windows, doors, flooring, kitchen, and bathrooms to a partial basement finish. The basement is already framed with exposed brick, and to make the basement bathroom come to life. The detached garage was used as a workspace/storage area, but it can be restored for parking or kept as-is for added functionality.
Neighborhood Description
This property is just minutes from Sloan’s Lake, Edgewater, and the Highlands—all highly desirable areas with strong buyer demand. Multiple nearby properties have already been flipped, further supporting strong resale potential. The property is also located within the Jefferson County R-1 School District.
Video Walkthrough
The property will need a full interior update, with new flooring, kitchen, and bathroom renovations needed throughout. All windows and entry doors will also need replacement. Minor plumbing fixes are needed, as the main floor bathtub leaks and will require work. The property currently does not have air conditioning, so installing A/C is included in the fix budget for an HVAC upgrade.
The basement has potential and is already framed out, with exposed brick for added character. Finishing the floors and adding another bathroom would significantly boost value. Exterior updates will improve curb appeal, increasing market value.
Total Budget: $94,537
The finished product will be a 3-bed (with space for 5), 2-bath, 2,071 sq. ft. property with a finished basement. With renovations throughout, this 1930s home will be brought back to life with modern updates while preserving its classic character.
This property is a ranch-style home with a basement in the walkable Wheat Ridge area. A full renovation is needed to match the area comps. The closing date is set for March 19, 2025.
Closing is scheduled for 03/19/2025.
Plenty of time to line up your crew.
3 Beds 2 Baths 2,071 sq ft
3009 Depew Street, Wheat Ridge, CO 80214 Zillow
Sold 12/9/2024 for $805,000 | 4 Beds, 3 Baths
The first comparable is located 0.1 miles away at 2,008 square feet, just 63 square feet smaller than ours, and has one extra bedroom and bathroom compared to the final product. The kitchen is fully updated with stainless steel appliances and quartz countertops, which is expected in a finished product at this level. In terms of build and overall layout, this is the closest match to what our subject property will be once completed.
3002 Depew Street, Wheat Ridge, CO 80214 Zillow
Sold 8/13/24 for $742,000 | 3 Beds, 2 Baths
This comp comes in at 1,818 square feet—253 square feet smaller than our subject property. It has the same bed and bath count as the final product but lacks the detached garage and workspace with extra parking, which adds significant value. The kitchen features granite countertops and stainless steel appliances, but it’s smaller and more closed off compared to ours. Overall, it's a solid reference, but our subject property will offer a more open feel and better functionality with the added garage and workspace.
2995 Chase Street, Wheat Ridge, CO 80214 Zillow
Sold 7/12/2024 for $837,000 | 3 Beds, 2 Baths
This comp sits at 2,132 square feet, just 61 square feet larger than our subject property. It has the same bed and bath count, but the kitchen is dated, featuring butcher block countertops and older appliances—whereas our subject will have a much nicer kitchen post-renovation. The exterior is Tudor-style, which we factored into our ARV since architectural appeal plays a role in value. Overall, it's a solid comp, but our subject will have the edge with a more modern kitchen and updated finishes.
