Lakewood has enjoyed some explosive growth over the last couple of decades, due to its surging population, its high quality of life, and its stunning location near the Rockies. It’s now the fifth largest city in Colorado, and investors from all over the world are taking notice.
If you’re considering a real estate investment in Lakewood, we’d like to talk about the opportunities in our market. It’s a great place to live and an enjoyable place to visit. Whether you’re thinking about making your first rental property purchase or you have a portfolio that’s doing well and could use some new acquisitions – let us tell you why Lakewood is the place to invest.
Lakewood Has a Strong and Diverse Economy
The city of Lakewood is close to Denver, and a lot of its economic and population power comes from this proximity. But, the region is also able to stand on its own when it comes to economic stability. In Lakewood, there are great businesses providing great jobs to residents of every skill level. Unemployment is below three percent and the median salary is around $56,000. Some of the most important industries in this market are agriculture, manufacturing, retail, transportation, and finance. The high employment numbers and stable economy create a sustainable tax base and a lot of consumer activity. When you invest here, you can be sure that a healthy ROI is in your future.
Lakewood Tenants are Stable and Qualified
Investing in Lakewood rental real estate also brings you a pool of highly qualified and stable tenants. You’ll find renters with a verifiable employment history and income who are looking for well-maintained properties in desirable neighborhoods. These tenants are likely to stay in place for the long term, especially if you’re a responsive and proactive landlord. With the current Lakewood tenant pool, you won’t have to worry about vacancies and high turnover cost. Investors can expect to earn high rents, setting themselves up for attractive cash flow potential.
Diversity of Investment Properties in Lakewood
Investors have choices when it comes to investing in Lakewood. Maybe you’re looking for a single-family home in an established neighborhood or planned community. Lakewood has those. When you’re looking for the right property to invest in, consider townhomes near Bear Creek Park, duplexes near downtown, or units in new apartment buildings. There are outstanding opportunities at attractive prices, and you don’t want to wait too long before you buy. The average home is only on the market for about 16 days.
Professional Lakewood Property Management
Whether your priority is short-term cash flow or long term price appreciation, the Lakewood rental market has something for you. Talk to a local property management company before you buy. We can tell you what to expect in terms of rental ranges, vacancy times, and tenant demographics. We can show you what kind of work will need to be done to the properties you’re considering before they’re ready to rent.
There’s a lot more to love about investing in Lakewood. Please contact us at Assured Management, and we’ll talk through your investment goals and our local opportunities.