Property Overview
Investor Opportunity – Spacious Home in a Growing Area!
This 4-bedroom, 2-bath property offers 2,008 sq ft of space, providing plenty of potential for investors looking to add value. As you walk in, you’ll be greeted by a spacious living room, offering plenty of room for customization and updating. Continue forward to the kitchen, which leads to the backyard—a perfect space for outdoor activities or future improvements. Off the main living area, you’ll find a full bathroom and three good-sized bedrooms, making the layout functional for both living and renting.
Once finished, the basement can significantly increase the property’s overall value and functionality. There is one existing bathroom, and there’s plenty of room to add two more bedrooms, making it ideal for expanding living space. This can be a great opportunity for additional rental income, as the finished basement could be rented out as a separate living area or suite (you must check all local regulations and codes). Additionally, it provides more space for your own use, whether as a home office, entertainment area, or extra storage. Finishing the basement transforms it into a highly valuable asset, especially in a growing area like this.
Located in a rapidly developing area, this property is just 15 minutes from downtown and 15 minutes from the mountains, offering the best of both worlds. The area’s growing popularity makes it an excellent opportunity for cash buyers who want to invest in a neighborhood with strong future appreciation potential.
Whether you’re looking to flip, rent, or hold for the future, this property offers endless possibilities in a prime location.
Neighborhood Description: This property is in an up-and-coming area, just minutes from downtown and the mountains. The neighborhood is rapidly growing, making it an ideal location for investors looking to purchase in a high-demand area with great long-term investment potential.
Video Walkthrough
The property basically needs it all! A new roof, new windows, full new kitchen, both bathrooms completely renovated (upstairs and one downstairs), all new flooring upstairs and down, fresh paint upstairs and down, a new water heater, HVAC system, and basement remodel.
The upstairs bathroom is the issue area – they have mold, which we have included in the bathroom renovation cost, along with adding in a buffer on the general costs to ensure there is a budget to cover it all!
Outside you will also need to replace the small amount of siding on the eaves, do some yard fix up, and freshen up the brick by either painting it or pressure washing.
It’s also worth mentioning that they basement bedroom that is currently in place is plumbed, so a third bathroom can be added in the basement. You will see this in the photo of the vanity in the bedroom.
Total Budget: $120,452
The finished product offers 4 bedrooms, 2 bathrooms, and 2,008 sq ft of living space, including a finished basement. The property sits on a 9,434 sq ft lot in the Creighton neighborhood, offering moderate walkability with a Walk Score of 53. It’s located just 0.8 miles from the Garrison Station public transit stop. The property is within the Jefferson County R-1 School District, serving South Lakewood Elementary, Creighton Middle, and Lakewood High School.
The property includes a large basement with great potential for finishing, adding value and extra living space.
Closing is scheduled for 05/14/2025.
Close Date shall be on 5/14/2025.
4 Beds, 2 Baths, 2,008 sq ft
545 Everett Street in Lakewood, CO Zillow
A 4-bedroom, 3-bath property located just across the street from the subject, sold on 2/7/25 for 2,112 sq ft at $660,000. Compared to the subject property, this comp offers slightly more space with an additional bathroom. Both properties are in the same well-established neighborhood and share similar features, such as ample natural light and spacious layouts. The exterior of the comp also includes a large yard and a driveway with a garage for parking - which while the subject can be similar post rehab, the inclusion of the bar shed and other enhancement would make the outdoor space better than the subject. Just like the subject, it is conveniently located near parks, shopping, dining, and major roadways, offering a peaceful setting with easy access to urban amenities. The basement of this property has a kitchenette, which we have left room for in our general rehab budget numbers.
505 Meadowlark Drive in Lakewood, Colorado Zillow
A 3-bedroom, 2-bath property located just 0.1 mile away sold on 10/21/2024 for 1,558 sq ft for $583,500. Compared to the subject property, this comp is smaller by over 450 sq ft. The 1955 ranch-style home has original cabinets, formica counters, original windows, and is dated, yet clean throughout. Our subject property will be fully renovated, plus at least one more bedroom above this comp.
9030 W 5th Avenue in Lakewood, Colorado Zillow
A 4-bedroom, 4-bath property located just 0.1 mile away was sold on 8/19/2024 for 2,482 sq ft which sold at $825,000. Compared to the subject property, this comp offers around 400 more sq ft space and an additional bathroom. This property is completely renovated from head to toe, and with only a slightly higher rehab budget than we have proposed on the subject will get you a similar finished product. This comp is a great showcase of what could be!
