429 14Th Ave Denver, CO 80204

This exceptional 55-unit apartment building, located at 429 E 14th Ave in Denver's desirable Capitol Hill neighborhood, presents a compelling investment opportunity. The property boasts 32,675 square feet on a 15,625 square foot lot, encompassing a three-story, 1922-built structure. Currently featuring a mix of 30 two-bedroom and 25 studio apartments (easily convertible to one-bedrooms), the building offers significant potential for value-add strategies. The property benefits from recently updated mechanical systems, including the boiler, electrical panels, and plumbing (excluding unit bathrooms), and necessary window replacements. An attractive loan assumption is available through August 2027, totaling $6,200,000 at a 4.02% interest rate, with an LTV exceeding 50%. The current NOI is $611,925, with a pro-forma NOI of $846,207, resulting in a 4.94% cap rate and a pro-forma cap rate of 6.72%. The asking price is $12,375,000, or $225,000 per unit. The property is zoned G-RO-5 and offers potential for increased rental income through the addition of amenities like bike storage and lockers. Its prime location near the business district and major employers ensures strong rental demand and long-term cash flow potential. This historic building combines classic charm with modern updates, making it an ideal investment for discerning buyers seeking strong returns in a thriving Denver market.