20 Townhomes on Merritt
February 12, 2017
- Street Address: 5005-5185 Merritt
- City: Boulder
- State: CO
- Zip: 80303
- List Price** 10,700,000
- Square Feet: 1168
- Beds: 3
- Baths: 3
$10 million in the Eisenhower neighborhood?!!! Yes, you read that correctly. The 20 townhome complex called 20 on Merritt is for sale. $10,700,000.
This complex was bought back in the spring of 2015 for $4,300,000. The 20 individual townhomes needed updating and been rentals for a long time. The new developer/owner remodeled each unit and began marketing them as luxury and furnished rentals (renting for $2400 unfurnished to $3800/mo furnished).
A year has passed and the developer is now looking to capitalize on the strong rental market purchasers/investors. If the overall price can be negotiated there is the opportunity to sell each unit individually at a market rate of $500-$600K per unit. The current market is in desperate need of inventory and these townhomes sold individually could gather a lot of interest from buyers looking to make this area their home.
This property is Listed by RE/MAX Alliance on Walnut