1938 Spruce St, Boulder, CO 80302

Property Description

A rare opportunity to secure a generational asset in one of Boulder’s most tightly held markets. This 5-plex offers a unique combination of scale, flexibility, and location that is increasingly difficult to replicate, making it well-suited for long-term ownership and wealth preservation. The property is configured with a detached single-family residence at the front and a separate four-unit building at the rear, creating a layout that enhances privacy, tenant appeal, and optionality for future use. The unit mix includes one one-bedroom and four two-bedroom units, aligning with consistent demand drivers in the Boulder market. With leases in place through July 2026, the property provides stable, predictable income from day one. Several units have already been thoughtfully updated, allowing the next owner to benefit from a well-maintained asset while preserving the ability to make strategic improvements over time. Positioned near downtown Boulder and the University of Colorado, and surrounded by the amenities that define the Boulder lifestyle, this property sits in a location where demand has proven durable across market cycles. Five off-street parking spaces further enhance tenant convenience and long-term desirability. For buyers focused on long-term wealth creation, this is less about chasing short-term yield and more about owning a scarce, income-producing asset in a supply-constrained market that has historically rewarded patience and disciplined ownership.