1625 Downing St Denver, CO 80218

Property Details for 1625 Downing St

Year built

1901

Property size

5,713 SF

Property type

Office Properties & Spaces

Property subtype

Mixed-use properties

Description

This stunning 5,713 square foot, four-story Denver Square mansion, built in 1901 by renowned architect Frank Edbrooke, presents a unique mixed-use investment opportunity. Located in the desirable Swallow Hill historic district, near downtown Denver, this property boasts a prime location amongst other owner-occupied office buildings. Currently operating at 100% occupancy with three tenants, the property generates a strong net operating income (NOI) of $95,800, yielding a 5.81% cap rate and a pro-forma cap rate of 6.11%. The property features three units: a three-bedroom attic apartment renting for $2,000 per month, a newly renovated two-bedroom basement apartment renting for $2,100 per month, and 9 private office spaces currently leased for $6,000 per month. The main and second floors showcase original woodwork, high ceilings, giant windows, antique tile fireplaces, and leaded glass windows. Amenities include a covered front porch, back deck, fully appointed kitchen, and a fully fenced side yard with potential for expansion. The property includes nine parking spaces and sits on a 7,100 square foot lot. Recent renovations (2010, 2021, 2024) have maintained the historic charm while enhancing functionality. The G-RO-3 zoning allows for diverse uses, including multi-family, commercial, office, flex space, live/work, restaurant, retail, hotel, and creative uses. The asking price is $1,650,000, representing a price per square foot of $288.81 and a price per unit of $550,000. Lease terms are gross, with a current lease expiration in October 2025.

Location Insight

City

Denver

County

Denver

State

Colorado

Longitude

-104.974

Latitude

39.7421