2535 Spruce Street
Boulder, CO, 80302 $ 3,200,000
Bedrooms12 Baths8.0 Sq 4,280 Monthly Estimate*
$ 20,205
for $3,200,000 with 12 bedrooms and 8 full baths. This 4,280 square foot home was built in 1989 on a lot size of 0.17.
Exceptional investment opportunity in one of Boulder’s most sought-after locations. Situated just minutes from Downtown Boulder, this well-maintained fourplex offers a rare combination of strong in-place income, long-term appreciation potential, and value-add upside in a market where multifamily inventory is exceedingly limited. The property consists of four spacious 3-bedroom, 1.5-bathroom units with highly functional floor plans that continue to attract quality tenants year after year. Each unit features generous living space, private entrances, and layouts designed for long-term rental appeal. Off-street parking, on-site laundry, and mature landscaping further enhance tenant satisfaction and retention. Located in the heart of Boulder, residents enjoy convenient access to Pearl Street, the University of Colorado, Google's Boulder campus, 29th Street, extensive bike paths, public transit, and countless outdoor recreation opportunities. The property's central location supports consistent rental demand and minimizes vacancy risk. Current rents provide immediate income with additional upside potential through future renovations, operational efficiencies, or market rent adjustments. Whether you're looking to expand an existing portfolio, complete a 1031 exchange, or secure a premier asset in one of Colorado's strongest rental markets, this is an opportunity to acquire a high-demand multifamily property with both stability and growth potential. Investment Highlights: • Four 3-bedroom, 1.5-bathroom units • Prime central Boulder location • Strong and consistent rental demand • Value-add and rental growth potential • Off-street parking and on-site laundry • Proximity to CU Boulder, Google, Pearl Street, and major employment centers • Excellent walkability, bikeability, and transit access • Rare multifamily asset in a supply-constrained market
See more
FeaturesGeneralSewer Public Sewer
Heating Forced Air
Cooling Air Conditioning-Room Central Air
Roof Composition
Garage Spaces 0
Construction Materials Frame
Exclusions tenants personal property
Year Built 1989
Tenant Pays Electricity Gas Internet
Levels Two
Property Subtype Quadruplex
Tax Year 2024
Ownership Corporation/Trust
Gross Income 125244.52
County Boulder
Operating Expense 23284.34
Property Type Residential Income
HOA N
Attached Garage N
Subdivision Name Pine Street
Status Active
High School Boulder
City Boulder
Senior Community Y/N N
High School District Boulder Valley RE 2
Lot Size Units Square Feet
Lot Size Square Feet 7240
Carport Spaces 0
Listing Terms 1031 Exchange Cash Conventional Jumbo
Elementary School Whittier Int'l
Tax Annual Amount 13293
Middle/Junior High School Casey
Ok to Lease 12 Months
Structure Type Quadruplex
Standard Status Active
Occupancy Type Tenant
Middle/Junior School District Boulder Valley RE 2
Elementary School District Boulder Valley RE 2
Cap Rate 3.19
See more
ExteriorWater Source Public
Total Parking 5
Lot Size Area 7240
Building Area Total 4280
Lot Size Acres 0.17
See more
InteriorBasement (Y/N) N
Above Grade Finished Area 4280
Laundry Features In Unit
Total Bedrooms 12
Total Baths 8
See more
* Excluded FeaturesAffordability Calculator
- Monthly Principal & Interest
- $20,205
- Monthly Property Taxes
- $1,108
- Monthly Home Insurance
- --
Default based on a 30-year fixed rate of 6.49% 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.
Learn more about how to save NearbyMulti-family listings in Boulder, CO
Average List Price $2,015,808
Percent of Sale Price 37%
About Boulder, CO 102,151 Population
6% Since 2002
$ 65,436 Median Income
31.88 Median Age
18% Households with Children
Trends Information provided by ATTOM Data Solutions.
3043878 Elementary School
1955678 Middle School
Boulder High School High School
Pricing History| Date | Price | Price Change | Description |
|---|
| 6/8/2026 | $3,200,000 | | Listed Price |