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Michelle Addison

michelle@michelleaddisonhomes.com +1(303) 520-3166

$ 465,000

Est. payment | -/mo

3 Beds

1 Bath

1,021 SqFt

Save

$ 465,000

Est. payment | -/mo

Save

3 Beds

1 Bath

1,021 SqFt

Key Details

Property Type Condo

Sub Type Condominium

Listing Status Active

Purchase Type For Sale

Square Footage 1,021 sqft

Price per Sqft $455

Subdivision Spanish Towers Condos

MLS Listing ID IR1059049

Style Spanish

Bedrooms 3

Full Baths 1

Condo Fees $532

HOA Fees $532/mo

HOA Y/N Yes

Abv Grd Liv Area 1,021

Year Built 1969

Annual Tax Amount $2,523

Tax Year 2025

Property Sub-Type Condominium

Source recolorado

Property Description

Exceptional investment opportunity just steps from the University of Colorado Boulder. This updated 3 Bedroom, 1 Bath condo in Spanish Towers offers strong cash flow, a prime campus location, and low-maintenance ownership with Elevator Access. With current rental income of $3,750/month, HOA dues of $532/month, Property Taxes of $2,532/year, condo insurance of approximately $720/year, and a 7% management fee, the property delivers an estimated CAP RATE of approximately 7%. The Brand New Furnace, Oven and Microwave and newer Refrigerator and Dish Washer insure a Trouble-Free investment. Ideally located within walking and biking distance to University of Colorado Boulder, the condo is especially attractive to students attending the Law School, Leeds School of Business, Engineering Center, and those wanting quick access to Folsom Field. The interior features durable Luxury Vinyl Flooring throughout, a cozy wood-burning fireplace, and an efficient layout designed for comfortable shared living and strong rental performance. 3 well-sized bedrooms maximize flexibility for tenants or owner-occupants alike. Residents of Spanish Towers enjoy secure building access along with desirable amenities including a Pool (currently under repairs), Fitness Center, a Laundry Facility in each Tower and a meeting room. The unit is currently leased at $3,750/month through 7/31/2026, providing immediate income and minimizing vacancy risk. Surrounded by restaurants, coffee shops, grocery stores, and campus amenities, this property is an outstanding option for investors, parents purchasing for students, or buyers seeking convenient Boulder living. Unit 201 is also FOR SALE at $450,000 and is currently leased for $3,750/month until 7/31/2026. No pets.

Location

State CO

County Boulder

Zoning Res

Rooms

Basement None

Main Level Bedrooms 3

Interior

Heating Forced Air

Fireplaces Type Living Room

Fireplace N

Appliance Dishwasher, Microwave, Oven, Refrigerator

Exterior

Utilities Available Electricity Available, Natural Gas Available

Roof Type Metal

Building

Sewer Public Sewer

Water Public

Level or Stories Three Or More

Structure Type Stucco

Schools

Elementary Schools Creekside

Middle Schools Manhattan

High Schools Boulder

School District Boulder Valley Re 2

Others

Ownership Individual

Acceptable Financing 1031 Exchange, Cash, Conventional

Listing Terms 1031 Exchange, Cash, Conventional

Listed by Modern Prestige Real Estate

NEARBY SCHOOLS & PROPERTIES

Contact me for a no-obligation consultation on how you can achieve your goals!

+1(303) 520-3166

michelle@michelleaddisonhomes.com

805 29th ST #452 Boulder, CO 80303