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Renovated Multifamily Investment Opportunity

407 421 422 29th Street, Denver, CO 80205

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For Sale

$6,500,000

34-unit multifamily property in Denver's Five Points neighborhood.

Type:Commercial

Property size:

22,996 SF

Lot size:

0.40 Acres

Price / SF:

$282/SF

HighLights

Assumable 4.26% fixed‑rate, interest‑only loan through 2029 provides significant cash flow advantage.
Fully renovated property with updated kitchens (granite countertops, newer cabinetry, stainless‑steel appliances), bathrooms, flooring, and windows.
Located in Denver's Five Points neighborhood, offering easy access to RiNo Art District, Downtown Denver, and light rail.
Diverse unit mix (one-, two-, and three‑bedroom layouts) appeals to a broad range of tenants.
Individually metered for gas and electric, enhancing operational efficiency.
Minimal CapEx exposure due to recent comprehensive updates.

We can help!

Listing Contact

JIM KNOWLTON

For Sale

$6,500,000

34-unit multifamily property in Denver's Five Points neighborhood.

Type:Commercial

Property size:

22,996 SF

Lot size:

0.40 Acres

Price / SF:

$282/SF

Added:: Nov 6, 2025
Days on Market:: 215
Last Refresh:: Apr 5 at 8:18 pm

Property Features for 407 421 422 29th Street

General Information

Standard status: Active
Size: 22,996 SF
Lot size: 0.40 Acres
Property subtype: Commercial

Building Details

Year Built: 1929

We can help!

Listing Contact

JIM KNOWLTON

Listing agent JIM KNOWLTON License #FA100032419

Listing office PINNACLE REAL ESTATE ADVISORS

Listing date Nov 6, 2025

Source Corcoran

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 PINNACLE REAL ESTATE ADVISORS

HighLights

Assumable 4.26% fixed‑rate, interest‑only loan through 2029 provides significant cash flow advantage.
Fully renovated property with updated kitchens (granite countertops, newer cabinetry, stainless‑steel appliances), bathrooms, flooring, and windows.
Located in Denver's Five Points neighborhood, offering easy access to RiNo Art District, Downtown Denver, and light rail.
Diverse unit mix (one-, two-, and three‑bedroom layouts) appeals to a broad range of tenants.
Individually metered for gas and electric, enhancing operational efficiency.
Minimal CapEx exposure due to recent comprehensive updates.

Overview

The Flats on 29th is a renovated 34-unit multifamily investment in Denver’s Five Points neighborhood. The property features one-, two-, and three-bedroom layouts. Renovations include new windows, modern flooring, contemporary paint, and designer lighting. The kitchens have been upgraded with granite countertops, newer cabinetry, and stainless-steel appliances, with dishwashers in select units. All 34 units are individually metered for both gas and electric. Interior updates include updated bathrooms with tubs and diverters, tile surrounds, and all plumbing fixtures. The property has new exterior paint, carpeting in bedrooms, and wood laminate in living areas. It is located two blocks from the light rail and offers downtown views. The property is located in Denver’s historic Five Points neighborhood, with easy access to the RiNo Art District, Downtown Denver, and the light rail.

Local Financial Insights For Apartment 5plus

Simulate Cap Rate and NOI

NOI Build-Up

Component	$	$/SF
Gross rent	$676.1k	$29.40
− Vacancy	−$41.2k	−$1.79
EGI	$634.8k	$27.61
− OpEx	−$285.7k	−$12.42
NOI	$349.2k	$15.18

22,996 SF · lease $29.40/SF/yr · vacancy 6.10% · expense 45.00%

Alternative Uses

Best Use

Apartment 5plus

$4.99M

$4.36M – $5.82M (±1% cap)

NOI $349,163 @ 7.0% cap · market cap 5.37%

Second Best

—

no second resolved use

Theoretical Best

Office A

$7.32M

$6.41M – $8.54M (±1% cap)

NOI $512,432 @ 7.0% cap · market cap 7.88%

Zoning and permitted uses should be independently verified with local authorities.

Property Profile Location Intelligence

Current Use by Public Records

Flats on 29th Apartment Building

Suggested Use

Location Insight

Map
Local Demand

City: Denver
County: Arapahoe
State: Colorado
Longitude: -104.974
Latitude: 39.7557

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For sale
Apartment buildings
CO
Denver
80205
407 421 422 29th Street

What type of property is this?

Apartment building - 34-unit multifamily property in Denver's Five Points neighborhood.

Where is this apartment building located?

The property is located at 407 421 422 29th Street Denver, CO.

What is the asking price?

The asking price for this property is $6,500,000.

What are key features of this property?

This property features: Assumable 4.26% fixed‑rate, interest‑only loan through 2029 provides significant cash flow advantage.; Fully renovated property with updated kitchens (granite countertops, newer cabinetry, stainless‑steel appliances), bathrooms, flooring, and windows.; Located in Denver's Five Points neighborhood, offering easy access to RiNo Art District, Downtown Denver, and light rail.