844 Ogden St Denver, CO 80218

Property Details for 844 Ogden St

Year built

1930

Construction

WOOD

Lot size

0.15 lot acres

Property size

8,982 SF

Zone code

G-RH-3

Property type

Garden apartment buildings

APN

05023-13-019-000

APU

502313019000

Description

The Britt, located at 844 N Ogden St, Denver, CO 80218, presents a compelling value-add investment opportunity in Denver's Capitol Hill neighborhood. This three-story, 15,000 square foot apartment building, constructed in 1930, boasts 21 units and sits on a 6,482 square foot lot. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $209,110, representing a 3.80% cap rate. However, a pro-forma analysis indicates a potential NOI of $280,000 and a 5.09% cap rate, suggesting significant upside potential. The asking price is $5,500,000, translating to $261,904.76 per unit and $366.67 per square foot. The property is zoned G-RH-3 and benefits from its proximity to Cheesman Park and the vibrant Capitol Hill area, ensuring strong rental demand. This well-maintained building offers investors a chance to capitalize on the Denver multifamily market, with the potential for rental rate increases contributing to substantial returns. The property has been locally owned for approximately 30 years, and market analysis suggests current rental rates are significantly below area averages, presenting a clear path to increased profitability. This is a rare opportunity to acquire a stable, income-generating asset with considerable room for growth in a highly desirable Denver location.

Location Insight

City

Denver

County

Denver

State

Colorado

Longitude

-104.975

Latitude

39.7299

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments