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1938 Spruce St

Boulder, CO 80302
  • $2,395,000
  • STATUS: Active
  • ON SITE: 5 Days
  • MLS #: 1049294
New On Site 5 Days Ago
UPDATED: 14 min ago
$2,395,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1934
County:
Area:

School Information

Elementary School:
Middle School:
High School:
School District:

Description

Exceptional opportunity to acquire a well-located 5-plex in the heart of Boulder offering substantial upside to market rents and the ability to reduce operating expenses, with the benefit of leases in place through July 2026 providing near-term income stability. Opportunities with this combination of location, unit mix, and flexibility are increasingly rare in Boulder's supply-constrained market.The property consists of a detached single-family residence in the front and a four-unit building in the rear, creating privacy, operational flexibility, and strong tenant appeal. The unit mix is ideally suited to Boulder's rental demand, comprising one one-bedroom unit, three two-bedroom units, and one three-bedroom unit. Several units have been recently remodeled, positioning the property for future rent growth while limiting immediate capital expenditures.With five off-street parking spaces and a central location near downtown Boulder, the University of Colorado, dining, and trail systems, the property benefits from consistently strong rental demand. Current leases run through July 2026, offering predictable cash flow while creating a clear runway for a buyer to implement a thoughtful rent and expense optimization strategy at rollover.This offering represents a rare chance to secure a scalable Boulder multifamily asset with in-place income, long-term appreciation potential, and compelling value-add upside.

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© 2026 Information and Real Estate Services, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Epique Realty. Data last updated: 2026-01-15T06:43:44.11.

Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.
www.discovercoloradohomes.net/homes/171991393
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1938 Spruce St Boulder, CO 80302

  • Price: $2,395,000
  • Status: Active
  • On Site: 5 Days
  • Updated: 14 min ago
  • MLS #: 1049294
0
Beds
0
Baths
0
½ Baths
0.17
Acres
1934
Built
Neighborhood:
Boulder O T East & West & North
County:
Boulder
Area:
Boulder
Elementary School:
Whittier
Middle School:
Casey
High School:
Boulder
School District:
Boulder Valley Dist Re2
Property Description
Exceptional opportunity to acquire a well-located 5-plex in the heart of Boulder offering substantial upside to market rents and the ability to reduce operating expenses, with the benefit of leases in place through July 2026 providing near-term income stability. Opportunities with this combination of location, unit mix, and flexibility are increasingly rare in Boulder's supply-constrained market.The property consists of a detached single-family residence in the front and a four-unit building in the rear, creating privacy, operational flexibility, and strong tenant appeal. The unit mix is ideally suited to Boulder's rental demand, comprising one one-bedroom unit, three two-bedroom units, and one three-bedroom unit. Several units have been recently remodeled, positioning the property for future rent growth while limiting immediate capital expenditures.With five off-street parking spaces and a central location near downtown Boulder, the University of Colorado, dining, and trail systems, the property benefits from consistently strong rental demand. Current leases run through July 2026, offering predictable cash flow while creating a clear runway for a buyer to implement a thoughtful rent and expense optimization strategy at rollover.This offering represents a rare chance to secure a scalable Boulder multifamily asset with in-place income, long-term appreciation potential, and compelling value-add upside.
Exterior Features

Construction Materials FrameBrick Exterior Features Balcony Other Parking 1 Space/Unit Parking Total 5 Patio And Porch Features PatioDeck Roof Composition Waterfront YN No

Interior Features

Appliances No Units FurnishedElectric RangeDishwasherRefrigeratorMicrowave Basement None Heating Baseboard Levels Two Living Area Source Assessor Number1 Bedroom Units 1 Number2 Bedroom Units 4

Property Features

Are Ditches Active No Association YN No Electric Xcel Flood Plain Minimal Flood or C Rating Gas Xcel Gross Income 162068 Has Improvements No Has Irrigation Ditches No Has Metro Tax District No Has Water Rights No Income Includes Lease/RentsCommon Area Fees Irrigation Water Rights YN No Is Water Meter Installed Yes Lease Amount Frequency Year Lease Listing Terms CashConventional1031 Exchange Lot Features Corner LotCity LimitsPavedCurbsGuttersSidewalksStreet LightAlley Net Operating Income 101421 New Construction Status Not NewPreviously Owned New Construction YN No Operating Expense 60647 Possible Use Multi-Family Property Sub Type Multi Family Road Frontage Type City Street Road Surface Type Asphalt Sewer Public Sewer Special Listing Conditions Private Owner Tax Annual Amount 12436 Tax Year 2024 Utilities Natural Gas AvailableElectricity Available Water Source City Zoning RMX-1

Listing information © 2026 Information and Real Estate Services
Listing provided courtesy of Nancy Kirkendall of RE/MAX Alliance-Nederland: 7209026580.



© 2026 Information and Real Estate Services, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Epique Realty. Data last updated: 2026-01-15T06:43:44.11.

Information source: Information and Real Estate Services, LLC. Provided for limited non-commercial use only under IRES Rules © Copyright IRES.
 
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