Location
THE ASSET
Home
DOCUMENT CENTER
CONTACT US
PRIVACY
TERMS OF USE
The Opportunity
Berkadia Denver Institutional Sales is pleased to present the exclusive listing of Ezlyn Westminster, a premier 332-unit, garden-style apartment community located in the City of Westminster, CO within one of Denver’s fastest growing submarkets, the U.S. 36 Corridor. Colloquially known as the “Silicon Valley of the Rockies,” this area has seen explosive employment growth in recent years and boasts by far the largest concentration of tech office space in Colorado. Home to numerous corporate and regional headquarters, including Ball Corporation, Oracle, CentruyLink, Trimble, and Vail Resorts, the 36 Corridor continues to attract high-profile corporate relocations in search of Denver’s highly educated talent pool and renowned quality of life.
Built in 1986, Ezlyn Westminster offers a number of attributes that investors will find attractive with respect to ensuring long term rent growth and favorable returns:
The Creative U.S. 36 Corridor Story
01
Investment Highlights
Ezlyn Westminster is located in the U.S. 36 Corridor equidistant between Denver and Boulder employment centers.
Minutes from Ezlyn Westminster is the 963-acre Interlocken Business Park, which houses over 9,000 employees and is home to numerous fortune 500 companies.
Since 2016, Westminster has seen 18.2% employment growth and boasts an average salary of $94,978.
•
•
•
VALUE-ADD POTENTIAL
Ezlyn Westminster has undergone two iterations of renovations.
Current Renovation: 72 Units
Prior (Mid-Level) Renovation: 240 Units
Classic Units: 20 Units
•
•
•
•
Limited Supply in a Restricted Growth Environment
Ezlyn Westminster benefits from limited space to develop as well as the city’s growth management program.
Currently, there is only one development with 142 units under construction in Westminster with a completion date of May 2024.
•
•
Proximity to World Class Recreation
Ezlyn Westminster is only 20-minutes from the base of the Rocky Mountains.
Big Dry Creek Trail spans 12 miles connecting Standley Lake to Interstate 25 and beyond where it merges with other major trail systems.
Standley Lake is only ten minutes from the Ezlyn Westminster community and offers hiking/biking trails, boating, paddle boarding, kayaking, and fishing.
•
•
•
Central to Prominent Retail and Entertainment Centers
Ezlyn Westminster is within five miles of a multitude of national and local retailers.
Standley Shores Shopping Center is walking distance from Ezlyn and hosts a Vasa Fitness, King Soopers grocery store, Walgreens, a coffee shop, FedEx, and multiple restaurants.
Two miles (a 5-minute drive) east of Ezlyn is the Westminster Promenade, home to an ice center, Dave & Buster’s Arcade, Target, Sephora, and many more national brands.
Two miles south of the community is the Brookhill shopping center which includes Chipotle, Torchy’s Tacos, Dunkin Donuts, JC Penney, Chili’s, and more.
•
•
•
•
Westminster (WST) Submarket Trends
Today there are only 142 units under construction, representing .003% of the total units under construction in metro Denver overall (43,709).
Only 1,423 units are proposed or in planning, compared to 74,609 units in Denver today.
Since 2011, WST submarket has only seen 1,387 units added to the overall inventory.
Vacancy has averaged 4.96 over the past 12 months, below Denver’s 5.16%.
In 2021, the average rent/sf for 1980’s vintage product equated to $1.83. Today that amount is 8.8% higher at $1.99/sf displaying the strength of the WST submarket and the Ezlyn Westminster product type.
•
•
•
•
•
PROPERTY SUMMary
Individual Forced Air Units
Individual Forced Air Units
Domestic Gas Hot Water Heaters
Individually Metered
Individually Metered
Master Metered / RUBS
Mechanical Systems
HVAC
Hot Water
Heat
Utility Billing Structure
Gas
Electric
Water/Sewer
$150
$41
$200
$200
Fees
Admin Fee
Application Fee
Pet Fee (one-time fee)
Pet Deposit
10305 Dover St., Westminster, CO 80021
Jefferson County
$35 per month
Pet Rent
LOCATION
GALLERY
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
Christopher Ellis
Senior Managing Director
303.689.8317
christopher.ellis@berkadia.com
1331 17th Street | 10th Floor | Denver, CO 80202
Phone: 303.689.8312 | Fax: 303.689.8352
Mortgage Bankers:
Denver Office
PAM KOSTER
Senior Managing Director
303.689.8335
pamela.koster@berkadia.com
MIKE GRIPPI
Senior Managing Director
303.689.8330
mike.grippi@berkadia.com
Investment Advisors:
CONTACT Info
10305 DOVER STREET, WESTMINSTER, CO 80021
332 UNITS | BUILT 1986
02
03
04
05
06
WESTMINSTER, CO | EZLYN WESTMINSTER
DEMAND DRIVER
Oracle - Corporate Office
From the Property
JOBS Supported
4.4mi
1.6k
Square-Foot Campus
1.1m
Trimble- Headquarters
From the Property
JOBS Supported
2.1mi
1.0k
Square-Foot Campus
240k
From the Property
JOBS SUPPORTED
1.5mi
2.2k
Square-Foot Facility
Ball Corporation - Corporate Headquarters
490k
WESTMINSTER, CO | EZLYN WESTMINSTER
JOBS SUPPORTED
9.2k
Schools and Centers
154
STUDENTS Served
78.5k
Semper ES | Mandalay MS | Standley Lake HS
PRIMARY EDUCATION
WESTMINSTER, CO | EZLYN WESTMINSTER
NEIGHBORHOOD CONVENIENCES
Within a two-mile drive of the property
WESTMINSTER, CO | EZLYN WESTMINSTER
NEIGHBORHOOD SHOPPING
Stores and Restaurants
170
SF Shopping Destination
1.4m
From the Property
5.5mi
Dillard’s | Forever 21 | H&M | Old Navy | Apple | AMC Theatres
WESTMINSTER, CO | EZLYN WESTMINSTER
NEIGHBORHOOD QUICK FACTS
City Unemployment Rate (*Preliminary for January 2023)
3.1%*
Median Household Income
(Within Three Miles)
$88.6k
Renter Occupied Housing Units (Within Three Miles)
29%
Population
(Within Three Miles)
78.5k
Median Housing Unit Value (Within Three Miles)
$599.7k
QUICK FACTS
SHOPPING
CONVENIENCES
PRIMARY EDUCATION
DEMAND DRIVER
Visit Doc Center
Visit Doc Center
BACK TO TOP
10305 DOVER STREET, WESTMINSTER, CO 80021
PROPERTY SUMMary
10305 Dover St., Westminster, CO 80021
Jefferson County
332
1986
29-151-02-001,29-151-02-002
Garden
3
15
250,432
16.05
Units
Year Built
Parcel Number
Style
Stories
Buildings
Gross Leasable Area
Acreage
699,138
20.7 Units Per Acre
Land SF
Density
Parking
450
Open Surface Parking
1.63
Parking Ratio
90
Covered Carports
$45
Covered Carport Fee
Home
The Asset
Location
Document Center
Terms of Use
Privacy
Contact Us
KEVIN BATT
Senior Director
303.689.8307
kevin.batt@berkadia.com
NEW LISTING:
Ezlyn Westminster, a 332-Unit Value-Add Opportunity Located in the Metro Denver Submarket of Westminster
NEW LISTING:
NEW LISTING:
Parking
450
Open Surface Parking
1.63
Parking Ratio
90
Covered Carports
$45
Covered Carport Fee
• Value-Add Potential to the Unit Interiors
• Limited Supply in a Restricted Growth Market
• Impressive Neighborhood Demographics
• Assumable Financing with a 3.38% Interest Rate