1164 10th Street [Notable Sale]
BOULDER NOTABLE SALE: 1164 10th Street | $2.93M Why Is It Notable? Imagine the seller’s anxiety when a week before closing, CU students decide to throw a rager in the same block as your listing. Good thing it was already under contract and likely past all contingencies.Listed in August of last year, 1164 10th Street was part of a portfolio of rental properties that hit the Boulder market. With an advertised cap rate of 5.39 and supposed 8% year over year revenue growth, you honestly have to wonder why it was listed at all. Yet despite the intense hunt for yield, the market ignored it [...]
Portfolio Worthy Historic Homes and Ultra Luxury Estates [Boulder Fresh Listings]
Historic homes are charming and located in the best parts of Boulder, but there's another reason to buy them. They hold their value exceptionally well, sell faster, and appreciate better than mass produced homes from the 1950's and beyond. I absolutely adore historic homes and consider them a wise investment, but I also warn my buyer clients to go in with eyes wide open. Historic properties often have issues with foundations, a lack of closet space, deferred maintenance, and inadequate electrical, plumbing, and mechanical systems. Expect to conduct extensive due diligence and if you buy, plan for maintenance costs that [...]
How Tight Can You Squeeze? [Development]
by Osman Parvez Earlier this week, Boulder City Council enacted a moratorium on building permits for multi-family housing on University Hill. Did you catch it? The (cough) emergency moratorium runs through March 18, 2015. Sound familiar? Long term blog readers may recall this was the very same tactic Council used in their opening salvo against view blocking large houses in Newlands. It eventually led to the Compatible Development Ordinance - rules limiting house sizes and certain architectural design elements such as so called "looming walls." In economic circles, this is called squeezing the balloon. CU plans to expand [...]
Hey, My Buddy is a Roofer…
by Osman Parvez The moment we stepped into the backyard, I saw it. My buyers didn't notice but I sure did. At some point, the current (or previous) homeowner decided it was time for a new roof but didn't want to pay the additional expense to remove the old one. It's not uncommon to see multiple shingle layers in Boulder, but have you ever seen composite shingles installed over shake shingle? It's not easy being green Now you have. Something tells me this installation wasn't to code. Check out the moss and rot! My [...]
The “New Hill”: 2009 Edition
by Osman Parvez ---- On Monday, the Daily Camera reported on the efforts of “The New Hill Co.”, who has created a future vision of the University Hill area. Walsh and Riggle make up The New Hill Co. For the past three years, they’ve worked as consultants for two property owners on the Hill: Boulder Hilltop Properties, which owns 1143 and 1155 13th St., and 1314 COEU, whose principals own property between 13th and 14th streets and College and Euclid avenues. The report the company produced — “The Hill Commercial Context Study” — envisions University Hill anchored at the north [...]
