1938 Spruce Street Boulder, CO ^$ 2,175,000

1938 Spruce Street

^$ 2,175,000

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Recently Listed

1938 Spruce Street

Boulder, CO, 80302

^$ 2,175,000

Bedrooms-- Baths-- Sq 3,800

Monthly Estimate*

^$ 13,392

Listed by RE/MAX Alliance

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Commercial Property for sale in Boulder, CO

for $2,175,000. This 3,800 square foot building was built in 1934 on a lot size of 0.17.

A rare opportunity to secure a generational asset in one of Boulder’s most tightly held markets. This 5-plex offers a unique combination of scale, flexibility, and location that is increasingly difficult to replicate, making it well-suited for long-term ownership and wealth preservation. The property is configured with a detached single-family residence at the front and a separate four-unit building at the rear, creating a layout that enhances privacy, tenant appeal, and optionality for future use. The unit mix includes one one-bedroom and four two-bedroom units, aligning with consistent demand drivers in the Boulder market. With leases in place through July 2026, the property provides stable, predictable income from day one. Several units have already been thoughtfully updated, allowing the next owner to benefit from a well-maintained asset while preserving the ability to make strategic improvements over time. Positioned near downtown Boulder and the University of Colorado, and surrounded by the amenities that define the Boulder lifestyle, this property sits in a location where demand has proven durable across market cycles. Five off-street parking spaces further enhance tenant convenience and long-term desirability. For buyers focused on long-term wealth creation, this is less about chasing short-term yield and more about owning a scarce, income-producing asset in a supply-constrained market that has historically rewarded patience and disciplined ownership.

Commercial Active

Price

^$ 2,175,000

Property Type

Commercial

Taxes

^$ 12,812

Style

Bungalow,Contemporary

Lot Size

0.17

Year Built

1934

Town/City

Boulder

County/Region

Boulder

MLS | Web ID

5201743

Features

General

Sewer Public Sewer

Possession Rental Agreement

Roof Composition

Zoning RMX-1

Garage Spaces 0

Architectural Style Bungalow Contemporary

Construction Materials Brick Frame

Year Built 1934

Tenant Pays Cable TV Electricity Gas Internet Telephone Trash Collection Water

Stories Count 2

Property Subtype Multi Family

Tax Year 2025

Current Use Multi-Family

County Boulder

Property Type Commercial Sale

Attached Garage N

Building Features Laundry Storage

Status Active

City Boulder

Number Of Units Total 5

Lot Size Units Square Feet

Lot Size Square Feet 7189

Carport Spaces 0

Listing Terms Cash Conventional

Tax Annual Amount 12812

Standard Status Active

Occupancy Type Tenant

Cap Rate 4.66

Exterior

Lot Features Corner Lot

Water Source Public

Total Parking 5

Lot Size Area 7189

Building Area Total 3800

Lot Size Acres 0.17

Road Surface Type Paved

Road Frontage Type Public

Internal Only

Street Number 1 1938

* Excluded Features

List By

Re/Max Alliance

Broker

(303) 543-5720

Phone

Affordability Calculator

$14,460

Per Month

Monthly Principal & Interest: $13,392
Monthly Property Taxes: $1,068
Monthly Home Insurance: --

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Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

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Nearby

Trends
Schools

Commerical listings in Boulder, CO

Average List Price ^$6,254,800

Percent of Sale Price 188%

About Boulder, CO

102,151 Population

6% Since 2002

^$65,436 Median Income

31.88 Median Age

18% Households with Children

View more area information

Trends Information provided by ATTOM Data Solutions.

242254 Elementary School

242425 Middle School

Unknown High School High School

See complete school information

Pricing History

Date	Price	Price Change	Description
3/27/2026	$2,175,000		Listed Price

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1938 Spruce Street, Boulder, CO, 80302 is a Commercial Property for sale at $2,175,000 with 3,800 sqft and a lot size of 0.17. 1938 Spruce Street was built in 1934. The property's zip code is 80302 which is in Boulder, CO

*Information deemed reliable but not guaranteed.

Financial calculator disclaimer: Default based on a 30-year fixed rate of 6.25% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.

The data relating to real estate on this web site comes in part from the Internet Data eXchange (IDX) Program of the REcolorado. Real estate listings held by firms other than Weichert Realtors are marked with the IDX logo and detailed information about them includes the Listing Broker’s Firm Name.

The information being provided is for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.

Data is updated as of 4/5/2026.

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1938 Spruce Street

Commercial Property for sale in Boulder, CO

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