# 1938 Spruce St, Boulder, CO 80302

> **TL;DR:** 9bd/5ba residential multi family, $2,175,000 ($572/sqft), built 1934, 3,800 sqft. Est. $9,425/mo. Listed 91 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $2,175,000 |
| Price/sqft | $572 |
| Bedrooms | 9 |
| Bathrooms | 5 full |
| Square Feet | 3,800 |
| Year Built | 1934 |
| Lot Size | 7,405 sqft (0.17 acres) |
| Stories | 2 |
| Property Type | Residential Multi Family (Other) |
| Status | For Sale |
| Days on Market | 91 |

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Mortgage (20% down, 6.5%) | $9,425 |
| **Total** | **$9,425** |

## Nearby Schools

- **Elementary:** Whittier
- **Middle:** Casey
- **High:** Boulder

## Property Highlights

- Built in 1934
- 0.17 acre lot
- 2 stories
- 5 parking spaces

## Description

### Agent Description
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.

## Location

- **Address:** 1938 Spruce St, Boulder, CO 80302
- **County:** Boulder
- **Neighborhood:** Boulder O T East & West & North
- **Coordinates:** 40.020685, -105.270151
- **Google Maps:** https://www.google.com/maps?q=40.020685,-105.270151

## Listing Agent

- **Name:** Nancy Kirkendall
- **Brokerage:** RE/MAX Alliance-Nederland
- **Phone:** 3035172585
- **Email:** nancy@boulderhomesource.com

## Primary Photo

![1938 Spruce St - Primary Photo](http://lh.rdcpix.com/5f7c1885ef78b9977bfbc0cf3ec28845l-f384899966r.jpg)

*50 total photos available on [listing page](https://www.propertysimple.com/listing/1938-spruce-st-boulder-co-80302-1049294)*

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**MLS#:** 1049294 | **Updated:** 2026-04-24
**Source:** listhub

*Copyright © 2026 IRES MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.com/listing/1938-spruce-st-boulder-co-80302-1049294)

---

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