350 Arapahoe Ave , #6

Description

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 offers two parking spaces, 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. With Airbnb allowed, this condo offers incredible income potential and lifestyle flexibility. Cash or portfolio loan available for purchase. The property sits on leased land payable annually each October. The owner may buy the land at the appraised value after 2037. The lease may qualify as 'redeemable ground rent' for tax deduction purposes; please consult your Accountant.In 2024, the land was appraised and the lease valued for $35,791.11. The land lease amount adjusts annually with the Consumer Price Index (CPI) and every five years subject to appraisal. At closing, the prorated portion of the lease amount will be credited to the seller and debited to the buyer. The HOA dues cover water, trash, heating, exterior maintenance, and hazard insurance. Electric and gas is billed separately.