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$2,395,000
● Multifamily - For Sale

1938 Spruce St

Boulder, CO 80302
bedrooms
9 Beds
bathrooms
0 Bath
$12,797
Est. Monthly

About This Property

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.
Unit Size
-
Days on Market
-
Land Size
0.17 acres
Price per sqft
-
Property Type
Multifamily
Property Taxes
$1,036
HOA Dues
-
Year Built
1934

Listed By

Nancy Kirkendall
Nancy Kirkendall
RE/MAX Alliance-Boulder

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Last updated: 10 months ago (IRES MLS #1049294)

Price History

Date / Event Date Event Price
Jan 9, 2026 Listed by RE/MAX Alliance-Nederland $2,395,000
Listed by RE/MAX Alliance-Nederland

Property Highlights

Parking Details
Parking Features: Alley Access
Interior Details
Appliances: Dishwasher, Refrigerator, Microwave, Electric Range/Oven
Basement: None
Exterior Details
Square Footage Source: $0
Property Condition: Not New, Previously Owned
Year Built: 1934
Levels: Two
Construction Materials: Wood/Frame, Brick/Brick Veneer
Patio and Porch Features: Patio, Deck
Lot Features: Corner Lot, Curbs, Gutters, Sidewalks, Within City Limits
Lot Size Area: 7189
Lot Size Units: Square Feet
Lot Size Acres: 0.17
Lot Size Square Feet: 7189
Water Source: City Water, City of Boulder
Financial Details
Tax Annual Amount: $12,436
Utilities Details
Heating Type: Baseboard
Sewer : City Sewer

Comparables

Unit
Status
Type
Beds
Baths
ft²
Price/ft²
Asking Price
Listed On
Closing Price
Sold On
HOA + Taxes

Past Sales

Date Unit Beds Baths Sqft Price Closed Listed By

Building Info

1938 Spruce 1938 Spruce, Boulder, CO 80302
  • 1 Unit for Sale
More about this Building
1938 Spruce
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