2925 37Th Ave Denver, CO 80211
- Apartment buildings
- 4,313 SF
- 0.25 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 2925 37Th Ave
- Year built
- 1948
- Lot size
- 0.25 lot acres
- Property size
- 4,313 SF
- Property type
- Apartment buildings
Description
This exceptional 8-unit apartment building in Denver, CO, presents a compelling investment opportunity. Located at 2925-2935 W 37th Ave, this property boasts 4,313 square feet across two 1-story buildings on a 0.25-acre lot. Built in 1948 and renovated in 2024, the property currently features a 75% occupancy rate with a current NOI of $86,336 and a projected NOI of $103,111 after full renovation. The asking price is $1,575,000, translating to $196,875 per unit and a current cap rate of 5.48%, projected to reach 6.55%. Three of the eight 1-bedroom, 1-bathroom units have already been updated. Each four-plex has its own tax ID, offering flexible financing options. The property includes five dedicated parking spaces, presenting additional income potential. Situated in a desirable Denver neighborhood, it's within walking distance of restaurants, public transportation, and the vibrant Highlands and LoHi districts. The U-MS-2 zoning permits various uses. This property offers significant upside potential through further unit renovations and the implementation of parking fees. The combination of strong location, renovation potential, and projected high returns makes this a truly attractive investment.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -105.024
- Latitude
- 39.7682
