$525,000
For Sale

135-137 S Lamar Street

Lakewood, CO 80226
Listing OfficeRE/MAX PROFESSIONALS
Browse 9 photos
Type:Purchase
Structure:Land
Zone:Residential

Description

Here is an amazing opportunity in the Belmar area of Lakewood for a scrape, lot divide and build new with to up to four separate units possible! No HOA so no concerns there. Currently there is a 1610 Sq,Ft. duplex on a 14,633 Sq.Ft. corner lot that is zoned R-2. The property's condition is average to below average and is on that fine line between scrape or renovate. In my opinion the highest and best use is to scrape, divide the lot in two and build a new single family PLUS and an ADU on each side, creating 4 (four) total units. I spoke to a City of Lakewood planner and engineer several times and this very possible. There is a minor City of Lakewood (not FEMA) flood plain that nicks the corner of the lot (see pic) but will not reduce building envelope and actually I am told it will be revised and probably removed in the next year or so. Although the current total rents are low ($2470/mo), both sides are rented through 6/30/2025 so enjoy some cash flow while you gather permits & plans, etc. Welcome to drive by but please DO NOT contact tenants. Any showing will be arranged privately when under contract. Should be no problem with conventional financing but no FHA or VA. See supplements for R-2 Zoning and ADU guidelines. Seller will be doing a 1031 Exchange.

  • Property Details
      • Lot DescriptionCorner Lot, Subdividable
    • Measurements
      • Acres0.34
  • Construction Details
      • Property TypePurchase
  • Utilities / Energy Details
      • Sewer InformationPublic Sewer
      • Utility SourcePublic
  • Community and Neighborhood Details
      • SubdivisionBelmar Area
    • Location
      • School DistrictJefferson County R-1
      • CountyJefferson
  • Financial Details
      • Original List Price$525,000
      • Taxes Annual$3,456
  • Other
      • MLS #4115047

Location

Cindy ReinReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

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Loan Amount
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