Denver Multifamily Investment
For Sale
$1,500,000
1200 E 24th Ave, Denver, CO 80205
Two parcels, six units, excellent location near downtown Denver.
Days on Market100
Property Features for 1200 E 24th Ave
General Information
Standard status
Active
Property subtype
Commercial
Building Details
Year Built
1945
Listing Agency:
(303) 946-0706
Listed By:
Matt Stephens · License #40023600
(303) 946-0706
Source:
Elliman
Added: Apr 24
Changed: Jul 10
Last Checked: Aug 1 at 8:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matt Stephens
Investment Insights
Based on property information with market context.
This listing presents a unique investment opportunity, encompassing two separate legal parcels: 2344/2346 Downing Street and 1200-1206 E 24th Ave. The separate parcels allow for conventional or FHA loans and insurance policies, potentially offering better rates and terms than commercial products. The properties could be sold separately, or each unit could be sold individually through a party wall split. Currently, the properties function as a turnkey asset with a cap rate of over 5.8% based on actual numbers. The units feature 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 their own electric and gas. The location is near downtown, Rino, RTD, parks, shopping, and restaurants. The bike score is 98, indicating a biker's paradise; the walk score is 95, indicating a walker's paradise; and the transit score is 77, indicating excellent transit.
Key Highlights
- Two separate legal parcels allow for two conventional loans and insurance policies.
- Offered at over a 5.8% cap rate on actual numbers; a turnkey asset.
- Potential to build additional units through an ADU on the large lot.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
4,996
Businesses Nearby
Explore this area
Business Placement
Demographics for 80205, CO
34,967
Population
19,040
Households
1.8
Avg Household Size
34
Median Age
61%
College-Educated
94%
High-School Grad
4.6 sq mi
ZIP Area
7,602
Density / Sq Mi
$98,770
Median Household Income
$69,760
Median Earnings
$1,816
Median Rent
$627,600
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Duplex - Two parcels, six units, excellent location near downtown Denver.
Where is this duplex 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; a turnkey asset.; Potential to build additional units through an ADU on the large lot.
