$2,395,000

1938 Spruce St, Boulder, CO 80302

N/A sq ft

Listed by RE/MAX Alliance-Nederland, Nancy Kirkendall
7209026580

Status: Active

MLS® #1049294

Virtual Tour

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.

QUICK OVERVIEW

Built in 1934
Baseboard
58 Days on website
0.17 acres lot

INTERIOR

BUILDING AND CONSTRUCTION

EXTERIOR AND LOT

UTILITIES

AREA AND SCHOOLS

FINANCIAL INFO

Price per square foot and days on website are not provided values and are calculated by REMAX.

Listing Agent Nancy Kirkendall

Listing Office RE/MAX Alliance-Nederland, 3032587020

Updated Saturday, March 7, 2026 at 11:38:35 PM

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NEIGHBORHOOD

About the Whittier Neighborhood

Whittier is a very good neighborhood to buy a house in for those who prefer a calm environment. Whittier is very quiet, as the streets are very tranquil. Although this part of Boulder is not known for its lively atmosphere, the vibe can still be quite energetic around its busier streets.

Learn more about Whittier

Elementary Schools

At least one elementary school within a 5-minute walk

Daycares

At least one daycare within a 5-minute walk

Groceries

At least one supermarket within a 10-minute walk

Cycling friendly

Suitable for bicycle commuting and/or recreational cycling

High Schools

At least one high school within a 15-minute walk

CLIMATE RISK FOR 80302

PROPERTY HISTORY FOR 1938 Spruce ST

BUYING

How Much Should You Offer on a House?

September 3, 2025

BUYING

10 Tips for Getting the Best Mortgage Rate

June 18, 2025

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1938 Spruce St, Boulder, CO 80302