1256 Newton St Denver, CO 80204
- Apartment buildings
- 6,714 SF
- 0.04 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1256 Newton St
- Year built
- 2021
- Lot size
- 0.04 lot acres
- Property size
- 6,714 SF
- Property type
- Apartment buildings
Description
This exceptional three-unit apartment building, constructed in 2021, presents a compelling investment opportunity in Denver's desirable Sloan's Lake neighborhood. The property features three spacious, 4-bedroom, 3.5-bathroom townhome-style units, each boasting high-end interior and exterior finishes. These rare three-story half-duplexes offer private yards, a significant advantage in a densely populated urban area. With a total square footage of 6,714, the property commands a price of $2,650,000, translating to $394.70 per square foot and $883,333.33 per unit. The current Net Operating Income (NOI) stands at $141,115, yielding a 5.33% cap rate. Pro-forma projections indicate a NOI of $156,063 and a 5.89% cap rate, showcasing the property's strong potential for future growth. The property's prime location offers exceptional proximity to downtown Denver, the Edgewater marketplace, and Highway 6, providing convenient access to both urban amenities and the nearby mountains. The well-maintained condition and high-quality construction contribute to its appeal as a low-maintenance, high-return investment. The 0.04-acre lot size complements the building's design and functionality. This is a rare opportunity to acquire a newer, high-quality multifamily property in a thriving Denver neighborhood.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -105.037
- Latitude
- 39.7359
