938 Kelly Pl, Longmont, CO 80501

• 2,080 sqft

Property Description

Some investment listings make you do the math. This one makes the math obvious. Two units, two garages, two private backyards (with sprinklers!), and 21 years of rental history with a combined 11 weeks of vacancy - read that again. Projected rents land between $3,600 and $3,700 a month combined, putting this at a 6.7% cap rate at list. For investors, that's already worth a call. For house-hackers, it's better: live in one side, let the other side's $1,850 cover most of your mortgage, and build equity on someone else's rent check. Both tenants vacate by August 1 - the new owner walks into a clean slate to re-lease at market, move in, or both. The 938 side has newer floors, windows, a Nest thermostat, AC, and a new water heater. The 940 side has new can lights, switches, and a 2020 water heater. A rare find with versatility, value, and strong upside in a desirable location!

Listing Status:

Active

Data Last Updated:

May 20, 2026 at 6:21AM

Listing Office:

RE/MAX of Boulder, Inc : 3038750221

Listing Agent:

Katie Muller : 3038750221

MLS ID:

1058785

Interior

• General: Eat-in KitchenWasher/Dryer HookupHigh Ceilings
• Appliances: Electric RangeDishwasherDisposalFire Alarm
• Basement: None
• A/C: Central AirCeiling Fan(s)
• Heating: Forced Air
• Fireplace: None
• Disability Feature: Level LotNo StairsMain Floor BathMain Level Bedroom
• Eco/Green Feature: Southern Exposure

Exterior

• Style: Legal Conforming
• Other Structures: Patio
• Parking: Garage Door OpenerParking spaces: 2

Construction

• Roofing: Composition
• Windows: Window Coverings
• General: BrickOne

Location

• Road/Access: City Street
• Originating MLS: ires
• School District: ST Vrain Dist RE 1J
• County: Boulder

Lot

• Zoning: RESR0073065
• Fencing: Partial

Utilities

• Utilities: Natural Gas AvailableElectricity AvailableCable AvailableHigh Speed AvailUnderground Utilities
• Water: City

Financial

• Source: ires