The Jefferson Towers

Highlights

• Immediate rental upside with no need for significant capital investment. Further value-add potential through light interior renovations to enhance overall appeal
• No deferred maintenance or CapEx requirements, allowing new ownership to focus on rent stabilization and income growth
• Thoroughly maintained with substantial exterior and interior improvements,
• including updated electrical systems, fencing, parking lot, and common areas
• Prime Wheat Ridge location near West Highlands, Sloan’s Lake, Edgewater, and Tennyson Street, providing strong long-term demand and appreciation potential
• Large 0.56-acre lot with flexible R-3 zoning offering potential future development opportunities

Description

The Unique Apartment Group is pleased to present the opportunity to acquire 5755 W 37th Ave in Wheat Ridge, Colorado, also known as The Jefferson Towers. This three-story property consists of twelve (12) spacious units featuring a mix of ten (10) one-bedroom/one-bathroom units and two (2) studios. The 8,568 Sq Ft building sits on a 24,393 Sq Ft (0.56-acre) lot. Current ownership has kept the property in excellent condition through consistent investment in upkeep and significant capital improvements over the past decade. Exterior improvements include replaced electrical panels, updated property fencing, a secure main entry keypad, and parking lot crack sealing and restriping. Interior updates include fresh hallway paint and railings, new common area carpet, solid core door replacements, bathroom upgrades, floor replacements in select units, and extensive HVAC maintenance. Located in the heart of Wheat Ridge’s Barths neighborhood, the property is surrounded by established single-family homes and lies minutes from some of Denver’s most desirable neighborhoods, including West Highlands, Sloan’s Lake, Edgewater, and Berkeley. Residents benefit from close proximity to a wide range of retail, dining, and community amenities along West 38th Avenue, the Wheat Ridge Marketplace, the shops at Tennyson St, and the Edgewater Public Market. All of these factors help support long-term tenant demand and overall value appreciation. The property is currently operated by a Jefferson County non-profit organization. The clear upside for investors lies in transitioning to a traditional multifamily management structure, as rents are currently well below prevailing market rates. With no major deferred maintenance or CapEx needs, new ownership can focus on stabilizing rents and realizing stronger cash flow immediately upon acquisition.

Wheat Ridge, another key West-Denver submarket within the greater metro area, has emerged as a stable and steadily improving multifamily environment. The city is home to roughly 33,000 residents, with median household income near $88,000 and median owner values approaching $585,000. These fundamentals have supported healthy rentership as households seek value and accessibility within minutes of Downtown Denver.
The local economy benefits from a strong mix of healthcare, education, and service-sector employment, while reinvestment along West 38th Avenue has enhanced the city’s retail and residential landscape. A limited pipeline of new multifamily construction has kept market conditions balanced, with most upcoming supply concentrated in small-scale or adaptive-reuse projects.
Wheat Ridge has experienced modest but steady appreciation in multifamily asset values, supported by tightening vacancy, limited competition, and a growing professional tenant base. The submarket’s small scale and established neighborhoods create natural barriers to overbuilding, ensuring that demand consistently exceeds new supply.
For investors, Wheat Ridge offers an attractive combination of affordability, proximity, and market durability. Its strategic west-metro location, rising neighborhood quality, and consistent renter demand make it one of the most dependable emerging multifamily markets in the Denver region.