1200 E 24Th Ave Denver, CO 80205
Two parcels near downtown Denver, ideal for investment or redevelopment.
Property size:
3,101 SFLot size:
0.29 AcresProperty Features for 1200 E 24Th Ave
General Information
- Standard status
- Active
- Size
- 3,101 SF
- Lot size
- 0.29 Acres
Building Details
- Year built
- 1945
Source:
Corcoran
Listing Agency: SYNERGY ASSOCIATES INC Listing Agent: Matt Moon
Displayed information is deemed reliable but is not guaranteed and should be independently verified.
Overview
Multifamily Investment Opportunity Near Downtown
This listing presents a unique opportunity, encompassing two separate legal parcels at 2344/2346 Downing Street and 1200-1206 E 24th Ave. The arrangement allows for obtaining two conventional loans and insurance policies, potentially offering better rates and terms than commercial products. The parcels could be sold separately, or each unit could be sold individually through a party wall split. The property, with a size of 3101 square feet, operates as a turnkey asset with a cap rate of over 5.8% based on actual numbers. It features a 2 to 1 parking ratio, washer/dryer in each unit, and separate hot water heaters and HVAC systems; five of the six units have central air. The large lot allows for the construction of additional units through an ADU. Long-term tenants are in place, and they are responsible for paying their own electric and gas. The property is ideally located close to downtown, Rino, RTD, parks, shopping, and restaurants.
Location Intelligence
Current Use by Public Records
Apartment buildings
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Arapahoe
- State
- Colorado
- Longitude
- -104.9730369
- Latitude
- 39.7517701
Nearby Similar for Sale
FAQs
What type of property is this?
Apartment building - Two parcels near downtown Denver, ideal for investment or redevelopment.
Where is this apartment building located?
The property is located at 1200 E 24Th Ave Denver, CO.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: - Two separate legal parcels allow for two conventional loans and insurance policies.; - Offered at over a **5.8% cap rate** on actual numbers.; - **Turnkey asset** with 2 to 1 parking, washer/dryer in each unit, separate hot water heaters and HVAC systems.
