1301 E 33Rd Ave Denver, CO 80205
Property Features for 1301 E 33Rd Ave
General Information
- Size
- 10,740 SF
Building Details
- Year built
- 1961
Source:
Pinnaclerea
Listing Agent: Luke Salazar
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Denver Multifamily Investment Opportunity
Located in the Cole Neighborhood of Denver, the Marion Street Apartments present an investment opportunity with a 15-unit apartment building. The property consists of 14 two-bedroom, one-bathroom units and one larger one-bedroom, one-bathroom unit. The property has been under the same investor for over 12 years and is well-maintained. The property currently yields a 5.3% cap rate on existing operations, with a path to a 6.3% cap rate by aligning rents with current market conditions. The property maintains a historically low vacancy, with several long-term tenants exceeding the decade mark. The majority of units being 2 bedrooms addresses a demand for affordable family housing in the area. The property features three parking spaces, supplemented by street parking due to the proximity of Cole Middle School. The property is on a corner lot with high visibility and great curb appeal.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Arapahoe
- State
- Colorado
- Longitude
- -104.971775
- Latitude
- 39.7634757
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - 15-unit apartment building in Denver's Cole Neighborhood.
Where is this apartment building located?
The property is located at 1301 E 33Rd Ave Denver, CO.
What is the asking price?
The asking price for this property is $3,575,000.
What are key features of this property?
This property features: - Proforma 6.5% Cap Rate achievable by aligning rents with market conditions.; - Historically low vacancy rate with long-term tenants.; - Spacious 2-bedroom/1-bathroom apartments cater to high demand for family housing.