Land Property for Sale – 7025 W 20th Avenue, Lakewood, CO 80214
Compare to listing #7329361 – 8470 W. 20th Ave at the same price, this vacant lot offers the opportunity to build two units. It is located just 1 mile from Sloan’s Lake and Edgewater Public Market & Shopping. The R2 zoning and City of Lakewood’s communication allow for building two single-family, stand-alone houses. Additionally, there is the option to build a duplex. Adjacent property 7031 West 20th Ave is also for sale, providing an opportunity to build three single-family homes or invest in the existing remodeled home.
The vacant lot with the red outline indicates that you can build 2 units, marked as ‘3’ and ‘4’. The yellow lot, Lots 1 & 2 at 7031 W. 20th Ave (MLS# 6234571), is also available for sale at $599,900. It includes a single-family home and the buildable single-family lot on the north part of the lot. According to R2 zoning and a city of Lakewood communication dated 11/15/2023, you are allowed to build 2 single-family standalone houses through a simple legal process to ‘condominiumize’ the lot. An adjacent property, 7051 W. 20th Ave, sold for approximately $862,500 on 6/23/2023, despite its relatively small size of 1,648 sq.ft. above grade and 1,648 in the basement. Building two homes would provide city views for ‘3’ due to a secluded wooded area in the back and separation from Geneva Court to the north because of a public water ditch and green space. Additionally, building a walk-out basement can increase the value and functionality of the property due to its perfect slope for a natural build-out. Instead of two standalone homes, you also have the option to build a duplex, similar to the neighbor directly west on 2020 Teller Street. This property sold for $1,100,000 on 6/02/2023 at $369 per square foot, despite it showing as expired – you may want to verify this with Realist/Public Record.
Don’t miss out on this incredible opportunity to purchase the adjacent 7031 West 20th Ave property and construct three detached single-family homes. You will also have the option to own the fully remodeled existing home and live in it while developing the new properties, which features 2 kitchens, 2 washer/dryers, 2 living spaces, and 2 baths, allowing for a variety of uses. After completion, you can choose to sell three homes and have one free and clear, or keep one as an investment property – the choice is yours! This unique opportunity won’t last long, so act quickly!
Please reach out to Patrick Finney with any questions over at CJV Real Estate, here to consult and assist!
