1139 12th St, Boulder, CO 80302

Property Description

The Unique Apartment Group is pleased to present 1139 12th Street, a 10-bed, 5-bath student housing investment on University Hill in Boulder, Colorado, steps from the CU Boulder campus and The Hill's retail, restaurant, and bar corridor. Demand consistently outpaces supply in this submarket: University Hill is geographically landlocked and largely built out, with zoning and topography sharply limiting new construction, while CU Boulder enrolls over 38,000 students against a persistent on-campus housing shortfall.The Hill operates on a pre-leasing cycle, with next year's leases typically executed the prior fall - giving ownership rare forward visibility into occupancy and income. The property is currently leased as a satellite house to a fraternity chapter, providing an organizational lease guarantee and a built-in occupancy pipeline through the chapter's recruitment cycle. Annual rent step-ups are the submarket norm, and the group lease configuration reduces turnover friction for a stabilized, hands-off cash flow profile.Ownership has invested meaningfully in recent years, minimizing near-term capital exposure for a buyer: a new backflow preventer and water shutoff were installed in 2024, and in 2025 both water heaters were replaced and one bathroom was fully remodeled.Beyond in-place cash flow, the property offers long-term development upside. Zoned RH-5 (Residential High Density), it benefits from Boulder's 2025 zoning amendments eliminating parking minimums, minimum land area per dwelling unit, and occupancy limits. Inclusionary housing requirements and Landmarks review remain part of the entitlement path, but the current zoning framework gives the next owner a runway to explore expanded density.