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    429 14Th Ave Denver, CO 80204

    Sponsored
    For Sale
    $12,375,000

    55 Units, $12.375M, High ROI

    Property size:
    32,675 SF

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    391
    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.

    Property Features for 429 14Th Ave

    General Information

    Property type
    Multifamily properties
    Square Feet
    32,675 SF

    Building Details

    Year Built
    1922
    Buildings
    1
    Stories
    3
    Units
    55

    HighLights

    • $12,375,000 asking price for a 55‑unit apartment building.
    • Attractive loan assumption available through August 2027 at 4.02% interest.
    • 1920s building with modernized systems.
    • Substantial capital expenditures completed; cosmetic value‑add potential.
    • Opportunity to increase income through added amenities.
    • Excellent Capitol Hill location near Denver's business district.
    Property Profile Location Intelligence

    Current Use by Public Records

    Acacia Apartments Apartment Building Natural Touch Massage ... Massage Therapist

    Suggested Use

    Restaurant Realty agency Spa & Massage Law Firm 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
    -104.98152538749
    Latitude
    39.738434115911

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    FAQs

    What type of property is this?
    Multifamily property - 55 Units, $12.375M, High ROI
    Where is this multifamily property located?
    The property is located at 429 14Th Ave Denver, CO.
    What is the asking price?
    The asking price for this property is $12,375,000.
    What are key features of this property?
    This property features: $12,375,000 asking price for a 55-unit apartment building.; Attractive loan assumption available through August 2027 at 4.02% interest.; 1920s building with modernized systems.
    Request Owner's contact information
    429 14Th Ave Denver, CO 80204
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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
    429 14Th Ave Denver, CO 80204
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