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    844 Ogden St Denver, CO 80218

    Sponsored
    For Sale
    $5,500,000

    21-Unit Apartment Building, High Occupancy

    Property size:
    15,000 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    397
    The Britt, located at 844 N Ogden St, Denver, CO 80218, presents a compelling value-add investment opportunity in Denver's Capitol Hill neighborhood. This three-story, 15,000 square foot apartment building, constructed in 1930, boasts 21 units and sits on a 6,482 square foot lot. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $209,110, representing a 3.80% cap rate. However, a pro-forma analysis indicates a potential NOI of $280,000 and a 5.09% cap rate, suggesting significant upside potential. The asking price is $5,500,000, translating to $261,904.76 per unit and $366.67 per square foot. The property is zoned G-RH-3 and benefits from its proximity to Cheesman Park and the vibrant Capitol Hill area, ensuring strong rental demand. This well-maintained building offers investors a chance to capitalize on the Denver multifamily market, with the potential for rental rate increases contributing to substantial returns. The property has been locally owned for approximately 30 years, and market analysis suggests current rental rates are significantly below area averages, presenting a clear path to increased profitability. This is a rare opportunity to acquire a stable, income-generating asset with considerable room for growth in a highly desirable Denver location.

    Property Features for 844 Ogden St

    General Information

    Property type
    Multifamily properties
    Square Feet
    15,000 SF

    Building Details

    Year Built
    1930
    Buildings
    1
    Stories
    3
    Units
    21

    HighLights

    • Exceptional investment opportunity in Denver's Capitol Hill neighborhood.
    • Rarely available multifamily property, first time on market in 30 years.
    • Significant upside potential: below‑market rental rates offer substantial value‑add opportunity.
    • Prime location near Cheesman Park, Denver Botanic Gardens, and vibrant dining/entertainment.
    • Strong demand for multifamily housing in this desirable area.
    Property Profile Location Intelligence

    Current Use by Public Records

    Drum Lessons by ... Music School The Britt Condominium Complex

    Suggested Use

    Restaurant Law Firm Realty agency Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Food Market Grocery Store

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

    Location Insight

    • Map
    • Local Demand
    City
    Denver
    County
    Denver
    State
    Colorado
    Longitude
    -104.97527382846
    Latitude
    39.729903121609

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    FAQs

    What type of property is this?
    Multifamily property - 21-Unit Apartment Building, High Occupancy
    Where is this multifamily property located?
    The property is located at 844 Ogden St Denver, CO.
    What is the asking price?
    The asking price for this property is $5,500,000.
    What are key features of this property?
    This property features: Exceptional investment opportunity in Denver's Capitol Hill neighborhood.; Rarely available multifamily property, first time on market in 30 years.; Significant upside potential: below-market rental rates offer substantial value-add opportunity.
    Request Owner's contact information
    844 Ogden St Denver, CO 80218
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    Denver, CO 80218
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    844 Ogden St Denver, CO 80218
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