Newland Way is a 23-unit garden style multi-family complex located in Arvada, Colorado. The property boasts one-bedroom units with large, functional layouts. In addition to a roof replacement and installation of new gutters completed by the previous owner, the units were primed for interior renovations.
Newland Way is ideally located in close proximity to Olde Towne Arvada, offering easy access to an array of shops, bars, and restaurants as well as the light rail station within less than half a mile. Tenants also benefit from a quick commute to Downtown Denver and other local hotspots in the Denver Metro Area.
Newland Way was identified as a value-add opportunity based upon an analysis of in-place vs. market rents and both exterior and interior unit renovations that, once completed, resulted in rent increases of $450-500 per month.