Advenir at Bear Valley

3550 S Kendall St, Denver, CO, 80235-2643, US

形容

JLL has been retained as the exclusive investment advisor in the sale of Advenir at Bear Valley, a well-positioned, 230-unit garden style multi-housing community located within the desirable Lakewood submarket. The property features a diverse unit mix across 10 rental buildings on 7.25 acres, offering residents spacious floorplans averaging 808 square feet.

Originally constructed in 1977, the acquisition of Advenir at Bear Valley presents a strategic value-add opportunity for new ownership to implement a comprehensive renovation program to compete with new or recently renovated product within the submarket closing the ± $200 in-place rental gap. The current unit mix offers a variety of one and two-bedroom floorplans, with select units featuring desirable amenities such as fireplaces, private balconies/patios, and walk-in closets.

Advenir at Bear Valley benefits from its prime location in Denver, providing residents convenient access to major employment centers throughout the metro area. The community features an impressive amenity package including a heated swimming pool, fitness center, business center, clubhouse, pet park, and grilling stations, creating a resort-style living experience.

The acquisition of Advenir at Bear Valley presents the compelling opportunity to strategically reposition a well located asset in a limited supply, high barrier to entry, amenity rich, metro Denver location.

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特性

ユニット数

230

竣工年

1977

賃貸可能面積

17,271 ㎡

土地面積ネット

2.93 ha

棟数

メディア

投資のハイライト

COMPREHENSIVE VALUE-ADD OPPORTUNITY

Originally completed in 1977, 100% of unit interiors are ripe for a comprehensive in-unit renovation campaign targeting the renovation of all unit interiors and enhancements within community amenity areas. Given the housing fundamental runway experienced in the Lakewood area over the past few years, rents at Advenir at Bear Valley are ± $200 below newer or recently renovated competition (on average), boasting a compelling case for a complete community refresh at Advenir at Bear Valley.

EASE OF ACCESS TO CRITICAL EMPLOYMENT NODES

Boasting convenient access to both C-470 and US-285, Advenir at Bear Valley is a short commute to several of Metro Denver’s largest employment centers including the Denver Federal Center, Denver West, Denver CBD, and the Southeast Business Corridor.

MUTED ONCOMING SUPPLY PIPELINE DRIVES FUTURE DEMAND

The Lakewood submarket is regarded as the most supply constrained submarket within Metro Denver due to a 1% Growth-Cap Housing Ordinance which passed in 2019 and remains instated until 2026. As a result, there are ZERO units currently under construction in the Lakewood submarket. This phenomenon, coupled with the consistent renter demand within the area has allowed the submarket to experience stable rental growth.

AFFLUENT NEIGHBORHOOD DEMOGRAPHICS PROMOTE ELEVATED RENTAL DEMAND

Owning a home within a 5-mile radius of the immediate area is a 176% premium to renting at Advenir at Bear Valley. The 5-mile radius features average household incomes of ± $125,000 and average home values of ± $670,000. As the key renter demographic seeks an attainable rent level, this makes Advenir at Bear Valley an extremely desirable rental option further propelling future rental demand at the asset level.

ADJACENT TO A PLETHORA OF RETAIL & RECREATIONAL AMENITIES

Situated minutes from a prominent retail corridor along Hwy-285 and Wadsworth, Advenir at Bear Valley also boasts proximity to Marston Lake, Bear Creek Lake Park, and a multitude of hiking, biking, and running trails.

STRONG MISSION DRIVEN AGENCY FINANCING CANDIDATE

Advenir at Bear Valley’s current in-place rent levels make it a prime candidate for mission driven agency financing given the naturally occurring relative affordability.