1938 Spruce Street

Off Market

1938 Spruce Street

Boulder CO 80302

0.17 ac.

Multi-Family

Last sold for $1,875,000

William Gibbs, last sold this property on 29 May 2026 after 139 days on market.

Overview

Exceptional opportunity to acquire a well-located 5-plex in the heart of Boulder offering substantial upside to market rents and the ability to reduce operating expenses, with the benefit of leases in place through July 2026 providing near-term income stability. Opportunities with this combination of location, unit mix, and flexibility are increasingly rare in Boulder's supply-constrained market.The property consists of a detached single-family residence in the front and a four-unit building in the rear, creating privacy, operational flexibility, and strong tenant appeal. The unit mix is ideally suited to Boulder's rental demand, comprising one one-bedroom unit, and four two-bedroom units. Several units have been recently remodeled, positioning the property for future rent growth while limiting immediate capital expenditures.With five off-street parking spaces and a central location near downtown Boulder, the University of Colorado, dining, and trail systems, the property benefits from consistently strong rental demand. Current leases run through July 2026, offering predictable cash flow while creating a clear runway for a buyer to implement a thoughtful rent and expense optimization strategy at rollover.This offering represents a rare chance to secure a scalable Boulder multifamily asset with in-place income, long-term appreciation potential, and compelling value-add upside.

Features

5 carspaces

0.17 ac. lot size

Multi-Family

Estimated Value

Based on this property and similar multi families sold in Boulder over the last 12 months, the estimated median property value of 1938 Spruce Street is $1.71m.

Median value

$1.71m

Estimated value range

$1.35m - $2m

Median days on market

Estimated value trend

14%

increase over the last 12 months

Average days on market is based on recent, comparable sales in Boulder. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 1938 Spruce Street

2026

Sold

$1,875,000

29 May 2026 by William Gibbs, of REMAX Alliance | Boulder

Happy sellers in Boulder

We have insufficient information to provide an overview of customer satisfaction for Boulder. Viewing the agent profiles, reviews and sales for Boulder can provide insights for this location.

Local market activity for multi families in Boulder

In the last 12 months, 3 multi families similar to 1938 Spruce Street, have been sold.

This represents a 43% increase in multi families sales when compared to the previous 12 months.

Sold

For Sale

Interested in selling?

People are reaching out to these agents in Boulder for a market analysis.

Jennifer Crow

at RE/MAX Professionals - Larkridge

(40 reviews)

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Moriah Sullivan

at Elevens Real Estate Inc

(3 reviews)

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John Mcelveen

at REMAX Of Boulder, Inc | Boulder

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Anne Wells

at Milehimodern

4.8

(6 reviews)

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Nearby agents

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Jennifer Crow

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