Sopris Realty MLS Search Results



$8,500,000
1235 E Cooper Avenue, Unit 1-8
Aspen, CO 81611
MLS# 149808
16 beds  |  8 baths  |  5168 sqft


1235 E Cooper Avenue, Unit 1-8, Aspen, CO 81611
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1235 E Cooper Avenue, Unit 1-8, Aspen, CO 81611 1235 E Cooper Avenue, Unit 1-8, Aspen, CO 81611 1235 E Cooper Avenue, Unit 1-8, Aspen, CO 81611

Property Description
A complete 8 Unit apartment complex. Fully leased, generating $295,000 of stable income with room to grow. Ownership consolidated to one owner making a smooth transaction for a new buyer. The building is in the popular East End location on the bus route for schools and RFTA. Quick access to Northstar Nature Preserve, popular with young families, accessing the river and jogging/biking trails. Ample parking with two spots per unit. Permit applications have been submitted for redevelopment to include laundry in each unit, new fireplaces, and all new fixtures. Units could be resold as Condos on the open market or kept as an A+ apartment complex in a tight housing market that continue to push rents higher. Fire pits and other common area amenities to be included in the redevelopment ..

Details
Maps
Documents
Location Info
Current Price: $8,500,000
Type: Residential Income
Sub-Type: N/A
Major Area: Aspen
Area: 01-East Aspen
Original List Price: 10500000
Asking Price: 8500000
Orig List Price Per/SF: 2031.73
Street #: 1235
Street Direction Pfx: E
Street Name: Cooper
Street Suffix: Avenue
Address 2/Unit #: Unit 1-8
City/Town: Aspen
State/Province: CO
Postal Code: 81611
Keywords Info
Bedrooms: 16
Total Baths: 8
Baths - Full: 8
Lot Size: 22,001 - 32000
Acreage: Refer to Lot Size
Garage: None
Pre-Fabricated Home: No
Listing Info
Short Sale: No
REO: No
Auction: No
Foreclosure: No
Member Association: Aspen Association
County: Pitkin
General Info
Sub/Loc: Aspen Edge
Legal: Units 1-8; Aspen Edge Condominiums & Common Area per Condo Map Reception #242026 & Condo Declaration Reception #242070
Zoning: R6
Nbr of Acres: 0.52
Lot SqFt: 22656
Lv Ht SqFt: 5168
Total SqFt: 5168
Price/LvH SqFt: 1644.74
Levels: 2
Year Built: 1969
Directions: East on Cooper Ave (Highway 82), towards Independence Pass. Property on right after the Roaring Fork River bridge. (Directly right of Park Ave and Midland Ave on your left of Highway 82).
Financing Info
Taxes: 10649
Tax Year: 2016
Transfer Tax: Yes
HOA Dues Y/N: No
HOA Transfer Fee: No
Status Change Info
Status: Active
Property Features
Laundry Facility: Common
Style: Two Story
Construction: Concrete Block
Roof: Membrane
Heating: Baseboard
Electric: Yes
Gas: Natural Gas
Sanitation: Sewer
Parking Area: Assigned
Possession: DOD; Subject to Lease
Terms Offered: Cash
Disclosures: Easements
Mineral Rights: No
Documents on File: Leases; Survey/ILC
Location Amenities: Exposure, Southern; Trees; Views
Showing Instructions: Call Listing Office
Supplements
... as well. Alternatively, this 22,656 square foot lot is zoned R-6, which will allow for up to four detached homes or townhouses with underground heated parking. See listing broker for the Development Analysis done by Alan Richman Planning Services for more detail. Potential to rezone to Residential Multi Family (RMF) or Affordable Housing (AH) and increase the developable Floor Area Ratio to 1.5:1. A unique and rare opportunity to own a large tract of land in Aspen with great views, spacious yards, a large parking lot, generating substantial income, yet easy to manage and maintain. Seller will cooperate with a 1031 exchange.

Listing Office: Frias Properties of Aspen

Last Updated: September - 13 - 2017

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Friday 22nd of September 2017 03:07 PM