350 Arapahoe Ave #6 Boulder, CO 80302

Listing details for 350 Arapahoe Ave #6, Boulder, CO 80302 : Discover an exceptional investment opportunity at a competitive price point in the heart of Boulder. Ideal for a variety of uses - including an investment property, second homes or student housing - this residence marries affordability with the coveted Boulder lifestyle. The home offers two parking spaces, backs to serene open space, offering a tranquil setting paired with modern amenities. Hardwood floors grace the main level, which features a remodeled kitchen with sleek Corian counters, a cozy wood-burning fireplace and a convenient powder room. Upstairs, the primary bedroom boasts a private balcony overlooking open space, while a beautifully remodeled bathroom with a skylight adds charm. A finished attic with built-in shelves and another skylight provides versatile storage or creative space. This property's affordability is enhanced by a land lease making it an excellent option for buyers looking to maximize value. With Airbnb allowed, it offers exceptional income potential and lifestyle flexibility. It's also a great option for CU students facing limited housing availability. Financing options are cash or portfolio loan only. The property is situated on leased land with annual lease payments due each October. The lease amount adjusts annually based on the Consumer Price Index (CPI) and is reassessed every five years upon reappraisal. The October 2024 lease payment was $35,791.11. At closing, the prorated portion of this payment will be credited to the seller and debited to the buyer. The lease payment may qualify as "redeemable ground rent" for tax deduction purposes; buyers are encouraged to consult their accountant for guidance. HOA dues include water, trash, heating, exterior maintenance, and hazard insurance. Electric and gas are billed separately.