Foothills Park Apartments

JLL as advisors are pleased to present Foothills Park, a 219-unit garden-style apartment community located at 9750 W 59th Ave, Arvada, CO. This strategic investment in an affluent west Denver suburb offers a unique opportunity for value-add renovation.

Foothills Park, constructed in 1987, spans 144,029 SF with an average unit size of 658 SF across 19 buildings. Current in-place occupancy is a robust 96% with average market rents of $1,653. The property includes an ample parking ratio of 1.58 spaces per unit with detached garages and surface parking.

Located in the high-demand Arvada market, Foothills Park benefits from a 40%+ rent growth since 2017, bolstered by limited housing supply and high average home values exceeding $730,000 within a five-mile radius. Access to major employment nodes and transportation options, such as a 12-minute drive to Golden and 20-minute commute to Downtown Denver, further underscores its attractive positioning.

With a strategic plan for comprehensive renovations, including potential community enhancements like a gym and dog park, Foothills Park presents a clear pathway to optimize rental income and capitalize on market dynamics. This asset offers new ownership the potential to enhance NOI through unit upgrades, positioning for competing with newer area developments. Engage in this compelling value-add opportunity to achieve stable cash flows and significant value creation in the thriving Denver submarket.