Discover an exceptional investment opportunity at a competitive price point in the heart of Boulder. Ideal for a variety of uses - including an investment property, second homes or student housing - this residence marries affordability with the coveted Boulder lifestyle. The home backs to serene open space, offering a tranquil setting paired with modern amenities. Hardwood floors grace the main level, which features a remodeled kitchen with sleek Corian counters, a cozy wood-burning fireplace and a convenient powder room. Upstairs, the primary bedroom boasts a private balcony overlooking open space, while a beautifully remodeled bathroom with a skylight adds charm. A finished attic with built-in shelves and another skylight provides versatile storage or creative space. This property's affordability is due to a land lease making it ideal for buyers seeking to maximize value. Cash purchase requested. With Airbnb allowed, this condo offers incredible income potential and lifestyle flexibility. The buyer will purchase the building while leasing the land beneath it until 2073, paying an annual ground rent due every October 1. This ground rent adjusts according to the Consumer Price Index (CPI) and the appraised value of the land with appraisals conducted every five years and has a cap of either 12% of the appraised value or no more than a 50% increase. On october 1, 2024 the initial ground rent was $23, 860.74 and the readjusted value after appraisal for additional rent was $11, 930.37 due on December 20, 2024.The buyer will also have the right to purchase the real property after 2037. At closing, the prorated ground rent will be credited to the seller and debited to the buyer.
Property Features
Bedrooms
- Bedrooms: 2
- Primary Bedroom Dimensions: 12 x 12
- Bedroom 2 Dimensions: 11 x 11
- Primary Bedroom Sqft: 144
- Bedroom 2 Sqft: 121
- Primary Bedroom Level: Upper
- Bedroom 2 Level: Upper
- Bedroom 2 Features: Carpet
Bathrooms
- Total Bathrooms: 2
- 1/2 Bathrooms: 1
- 3/4 Bathrooms: 1
- Bathrooms On Main Level: 1
- Primary Bathroom Features: Shared Primary Bath, 3/4 Primary Bath
Interior Features
- Eat-in Kitchen
- Cathedral/Vaulted Ceilings
- Open Floorplan
- Interior Amenities: Eat-in Kitchen, Cathedral/Vaulted Ceilings, Open Floor Plan, Skylights, Wood Floors
- Flooring: Wood Floors
- Window Features: Skylight(s), Double Pane Windows
Appliances
- Electric Range/Oven
- Dishwasher
- Refrigerator
- Washer
- Dryer
- Laundry Features: Main Level
Heating and Cooling
- Fireplace Features: Living Room
- Heating Features: Baseboard
- Heating: Yes
Kitchen and Dining
- Kitchen Dimensions: 11 x 11
- Kitchen Level: Main
- Kitchen Sqft: 121
Other Rooms
- Living Room Dimensions: 14 x 17
- Living Room Sqft: 238
- Living Room Level: Main
Exterior and Lot Features
- Balcony
- Land Lease
- Fencing: Partial, Wood
- Other Structures: Storage
- Patio And Porch Features: Deck
Land Info
- Land Lease: Yes
- Lot Description: Abuts Public Open Space
- Vegetation: Evergreen Trees, Deciduous Trees
Home Features
Homeowners Association
- Association: Yes
- Association Fee: 450
- Association Fee Frequency: Monthly
- Calculated Total Monthly Association Fees: 450
- Association Name: Arapahoe West Condominiums
- Association Phone: 3034496537
- Pets Allowed: Dogs OK, Cats OK
School Information
- Elementary School: Flatirons
- Elementary School District: Boulder Valley Dist RE2
- High School: Boulder
- High School District: Boulder Valley Dist RE2
- Middle School: Manhattan
- Middle or Junior School District: Boulder Valley Dist RE2
Amenities and Community Features
- Community Features: Hiking/Biking Trails
Other Property Info
- Annual Tax Amount: 711
- Source Listing Status: Coming Soon
- County: Boulder
- Tax Year: 2023
- Source Property Type: Attached Dwelling
- Inclusions: Electric Range/Oven, Dishwasher, Refrigerator, Clothes Washer, Clothes Dryer
- Property Subtype: condo
- Source Neighborhood: Arapahoe West Condos
- Subdivision: Arapahoe West Condos
- Source System Name: C2C
Building and Construction
- Total Square Feet Living: 851
- Year Built: 1975
- Construction Materials: Wood/Frame
- Direction Faces: North
- Levels: Two
- Property Age: 49
- Property Attached: Yes
- Property Condition: Not New, Previously Owned
- Roof: Composition
- Structure Type: Townhome Style Condo, Outside Entry
Utilities
- Electric: Electric, Xcel
- Gas: Natural Gas, Xcel
- Sewer: City Sewer
- Natural Gas Available
- Electricity Available
- Cable Available
- Water Source: City Water, Boulder Water