Just 2 blocks from Lakewood’s Bear Creek Greenbelt and just minutes to Kipling and Highway 285, this bargain priced townhome at 3129 S. Estes Street is located in the San Francisco West townhome community offering a great opportunity for the buyer looking for a property that needs updating and reaping the upside value potential. Although it would benefit from updating, this 2-BR, 1-bath townhome is quite livable in its present condition. It’s perfect for a first-time buyer or for an investor looking for an easy, low-maintenance rental property. A similar 2-bed/1-bath unit in the same community is listed at $260K. Visit www.LakewoodTownhome.info for more info and pictures. Bring your creative mind to the open house Saturday, Oct. 12, noon to 2 pm, or call Andrew at 720-710-1000 for a showing.
Just one block from Garfield Lake Park, this bargain-priced home at 1431 S. King Court is located on a quiet cul-de-sac, ideally situated in the Mar Lee section of southwest Denver. It was just listed for $338,000.
With 5 bedrooms and 2 baths, this bi-level home offers the potential for added value with a little sweat equity. It is quite livable in its present condition, with great “bones” and flow. On the upper level are 3 bedrooms, a full bath, eat-in kitchen and living room. On the lower level are 2 more bedrooms and another full bath plus a spacious family room. A new roof was installed in 2012 and windows were replaced in 2011. This home could be perfect for a first-time homebuyer or an investor looking for an easy, low-maintenance rental property. It is currently occupied by an excellent long-term tenant on a month-to-month lease who wants to stay. Call Andrew Lesko at 720-710-1000 for a private showing. More information and interior pictures can be found at www.DenverHome.info.
Rarely do these condos come on the market! This 2-bedroom 1-1/4-bath, 1,015- sq.-ft. condo at 10930 W. Florida Ave #618 is located in West Lochwood. It was just listed for $228,000. The Lochwood Landings condo community is surrounded by 5 lakes, including Kendrick Lake Park & Cottonwood Park and numerous nearby hiking and biking trails. Walk to King Soopers, Starbucks, and many shops and restaurants. This condo is move-in ready, featuring fresh paint and newly installed carpet & flooring throughout. This is a desirable, second level, end unit with a southeast facing, covered balcony. It includes one reserved parking space and ample visitor parking. The most recent sales in the complex have been at or above $250K, making this an exceptional opportunity for a first-time buyer. You can view a narrated video walk-through at www.LakewoodCondo.info. For a private showing, call your agent or Andrew Lesko at 720-710-1000. Open Sunday, August 25th, 11-3.
This gorgeous 4-BR, 4-bath townhome at 916 Homestake Dr is located in the Kinney Run townhome community, a short walk from the Colorado School of Mines and historic downtown Golden, making it a great investment opportunity. It was just listed by Andrew Lesko for $538,000.
The main level features expansive hardwood flooring, new stainless steel appliances and new granite countertops in the kitchen. The main floor layout features a living room with wood-burning fireplace, dining area and family room area off the kitchen. This home has been freshly painted & features new carpeting in the upper & lower levels. Enjoy the private, north facing deck with winter views of South Table Mountain and Castle Rock. Upstairs features the master suite with updated master bath and walk-in shower as well as another large bedroom and full bath. The basement features a full bath as well as the 4th bedroom. There is a 1-car detached garage with an adjoining parking space. View a narrated walk-thru at www.GoldenTownhome.com. For a private showing, call Andrew Lesko at 720-710-1000. Open Sat., Aug. 17th, 11 to 3.
This custom 1950’s tri-level home at 6315 Pierce Street features wood-beamed, vaulted ceilings, beautiful hardwood flooring and mahogany woodwork throughout. It was just listed for $455,000. This 3-bedroom, 2-bath home also features a lower-level family room, an extra-large patio sunroom with wood burning fireplace and a great deck area for outdoor entertainment. The backyard is large, private and comes with a large garden shed. There is an attached 1-car garage and a detached 2-car garage. This home has been beautifully maintained by the same owner for the last 40 years. It is located just two blocks from Secrest Park and Recreation Center, one block from Secrest Elementary School and about a mile from Old Town Arvada. View a narrated walk-through of the home at www.ArvadaHome.info. For a private showing, call your agent or listing agent Andrew Lesko at 720-710-1000. Open Saturday, August 3, 11 am – 3 pm.
Buyers will find top quality features throughout this lovely 2-bedroom, 2-bath home at 10721 W. 45th Avenue in the Fruitdale Patio Homes subdivision. It was just listed for $398,000. It features tile and wood floors and all neutral colors as well as brick construction, newer (2016) roof, Anderson windows and Pella doors. Additional features include the extra wide, finished 2-car garage with sink and utility closet with newer Goodman gas furnace and Rheem gas water heater. You will love the interior flow of this gorgeous home from the spacious kitchen, living room with gas fireplace and vaulted ceilings and tons of natural light to the bedrooms which overlook the back garden areas. Fruitdale Patio Homes is a small self managed community located close to Prospect Park with miles of trails along Clear Creek. Just a few minutes away is the Wheat Ridge Rec Center, Gold Line light rail, and I-70. Take a video tour at www.WheatRidgeHome.info, then call your agent or Andrew at 720-710-1000 for a private showing. Open house Sat., July 13, 11-3.
This updated end unit at 1230 S. Reed St #6 in Lakewood — just listed for $220,000 — features vaulted ceilings and spacious living areas including a roomy kitchen, large dining area and expansive master bedroom. Additional features include a main-level laundry and a private fenced courtyard! The finished basement has a non-conforming bedroom, abundant storage spaces and roughed in plumbing for a 3rd bathroom. Includes 2 parking spots. The Lakewood Link Rec Center is across Reed Street and Belmar shopping and entertainment in less than a mile to the north! For a private showing, call Andrew Lesko at 720-710-1000. You can find more details, photographs and a narrated video tour with drone footage at LakewoodTownhome.info. Open Sat., May 11th, 11am-3pm.
Check out this sunny garden level condo at 381 S. Ames Street, Unit B-105, just one mile east of the Belmar shopping district with easy access to downtown Denver. It was just listed this week for only $198,000. This recently updated condo comes with stacked washer/dryer, newer cabinets, granite countertops, and top of the line berber carpeting & ceramic tile floors. It’s affordable Lakewood living for the first-time or downsizing home buyer. This end unit comes with 2 reserved parking spaces and low HOA dues ($157/month) which include heat & hot water, a clubhouse and swimming pool! At this time, this is the only 2-BR, 2-bath condo under $200,000 in Lakewood. Find interior photos at www.LakewoodCondo.info. Andrew will hold it open Saturday, 11am – 3pm. Click on the narrated video tour below.
Come check out this 3-bed/2-bath home at 7755 W. 62nd Place, just listed for $375,000. It’s located on a quiet street just north of Old Town Arvada. This 1,421-sq.-ft. home sits on a large corner lot and features a generous main level living area and large kitchen space that opens to a newly fenced, private backyard. The upper level features the master bedroom and second bedroom plus a full bath. There is hardwood flooring under the carpet on the main and upper levels as well as on the stairs. Downstairs is a cozy family room with fireplace and a third bedroom and full bath. The carport was converted to an extra living space but could be converted back to a carport (or garage) by the new owner. Find more pictures and a narrated video tour at www.ArvadaHome.info then come to the open house on Saturday, March 9th, from 11 to 3 pm. Call your agent or Andrew Lesko at 720-710-1000 to set a showing.
Colorado owners of investment real estate have built up a lot of equity over the last several years through appreciation. Selling those properties outright would subject the seller to significant capital gains tax, but there are several strategies for deferring — and in one strategy reducing — that capital gains tax liability.
Many property owners have inquired about selling their investment property in a way that locks in their gains — including owners who are looking to exit the landlord business altogether.
Whether your rental property is a single-family home, a duplex, other multi-family dwelling, or a commercial property, you may well be looking to cash out while values are high, but how do you do so while minimizing your tax exposure? There are several strategies for doing so, but one that was created by the Tax Cuts and Jobs Act of December 2017 is particularly attractive, both for its flexibility and the fact that it allows for reduction of the deferred capital gains tax and elimination of future tax.
There are four exit strategies that simply defer capital gains tax obligations. They include the traditional Installment Sale, the Monetized Installment Sale, the Deferred Sales Trust and the Delaware Statutory Trust. By using one of these exit strategies, you can defer the amount of tax you pay on the sale of a rental property, putting your pre-tax capital to work elsewhere. A fifth tool, the Opportunity Trust Fund, created by the Trump tax bill, is likely to become every investor’s favorite. Let me explain why.
The Trump tax bill allowed states to identify “Opportunity Zones,” and Colorado identified 126 such zones, 40% of which are in the Front Range, including Denver and Jefferson County. Altogether there are now 8,700 Opportunity Zones in all 50 states, the District of Columbia, and in five U.S. territories.
If a new investment in an Opportunity Zone property — or in an Opportunity Zone Fund which invests in such properties for you — is held for 10 years, you pay no capital gains tax when you sell.
There’s a further advantage when you roll the capital gain on your current investment property into an Opportunity Zone investment, because you can sell your current property, take out your basis on that property tax-free, while rolling only your gain into an Opportunity Zone Fund. Your basis on the rolled-over gain is increased (and tax liability reduced) by 15% after 7 years, and your gain on the new investment is tax-free if you hold it for 10 years. I’m told that these tax benefits decline on investments made after 2019.
In this article, I’m only telling you what I understand from reading up on the subject, including at https://www.irs.gov/newsroom/opportunity-zones-frequently-asked-questionso. You’ll want to speak to your tax advisor before making any changes in your real estate investment portfolio.
I thank broker associate Andrew Lesko, who specializes in duplex and multi-family properties, for bringing this and the other tax-saving strategies to my attention. If you’re thinking about selling your duplex, triplex, townhome or condo, contact Andrew for a current market analysis at 720-710-1000 or visit www.DuplexAlerts.com, where you’ll find more details about all five tax deferral/reduction/elimination strategies.
If you have a commercial property to sell, call me at 303-525-1851 so I can refer you to a trusted commercial broker.