Value-Add Duplex with Two
1937-1939 Park Avenue Denver, CO 80218
For Sale
$700,000
Duplex offers two legal addresses and a repositioning opportunity in Midtown Denver near Safeway-anchored retail.
Property Size2,254 SF
Price / SF$310.56
Days on Market78
Property Features for 1937-1939 Park Avenue
General Information
- Standard status
- Active
- Size
- 2,254 SF
- Property subtype
- Multi Family
Building Details
- Year Built
- 1900
Listing Agency:
Brockman Group LLC
(303) 668-4930
Listed By:
Jules "J.B." Hochman · License #40026271
(303) 668-4930
Source:
Exitrealty
Added: May 8
Changed: Jul 23
Last Checked: Jul 23 at 8:32AM
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 Brockman Group LLC
Investment Insights
Based on property information with market context.
This duplex property is presented as a value-add opportunity featuring two legal addresses at 1937–1939 Park Ave. The offering includes a repositioning concept to convert the existing setup into two attached single-family residences. The property is described as requiring minimal upgrades to support a finished end product.
The property is located in Midtown Denver and is described as adjacent to Safeway-anchored retail, with proximity to downtown Denver, hospitals, restaurants, and major employment centers.
The property is also part of a larger “Uptown Portfolio” and is described as a rare contiguous assemblage that may be purchased individually or as part of the full site opportunity, including 1960 Clarkson, 1950 Clarkson, and 818–820 E 20th. Buyers should verify scope, feasibility, and intended conversion details with appropriate professionals.
The property is located in Midtown Denver and is described as adjacent to Safeway-anchored retail, with proximity to downtown Denver, hospitals, restaurants, and major employment centers.
The property is also part of a larger “Uptown Portfolio” and is described as a rare contiguous assemblage that may be purchased individually or as part of the full site opportunity, including 1960 Clarkson, 1950 Clarkson, and 818–820 E 20th. Buyers should verify scope, feasibility, and intended conversion details with appropriate professionals.
Key Highlights
- Duplex built in 1900 with two legal addresses on Park Ave in Midtown Denver
- Each side is approximately 918 SF, supporting conversion into two attached single‑family residences
- Offered at $700,000 with an estimated post‑renovation value of $990,000 (per provided remarks)
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $56.8k | $25.20 |
| − Vacancy | −$3.3k | −$1.46 |
| EGI | $53.5k | $23.74 |
| − OpEx | −$16.1k | −$7.12 |
| NOI | $37.5k | $16.62 |
2,254 SF · lease $25.20/SF/yr · vacancy 5.79% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$535.1K
$468.2K – $624.3K
NOI $37,458 @ 7.0% cap · market cap 5.35%
Second Best
Apartment 5plus
$488.9K
$427.8K – $570.4K
NOI $34,224 @ 7.0% cap · market cap 4.89%
Theoretical Best
Office A
$717.5K
$627.8K – $837.1K
NOI $50,227 @ 7.0% cap · market cap 7.18%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Duplexes
FAQs
What type of property is this?
Duplex - Duplex offers two legal addresses and a repositioning opportunity in Midtown Denver near Safeway-anchored retail.
Where is this duplex located?
The property is located at 1937-1939 Park Avenue Denver, CO.
What is the asking price?
The asking price for this property is $700,000.
What are key features of this property?
This property features: Duplex built in 1900 with two legal addresses on Park Ave in Midtown Denver; Each side is approximately 918 SF, supporting conversion into two attached single‑family residences; Offered at $700,000 with an estimated post‑renovation value of $990,000 (per provided remarks)
