1136 Washington St Denver, CO 80203

This charming three-unit apartment building, located at 1136 N Washington St in Denver, Colorado's vibrant Capitol Hill neighborhood (zip code 80203), presents a compelling investment opportunity. Built in 1888, this property boasts 2,346 square feet on a 2,775 square foot lot and features a diverse unit mix: one studio, one one-bedroom/one-bathroom, and one two-bedroom/one-bathroom unit. The largest unit is currently vacant, offering immediate occupancy or rental potential. All units are above grade, eliminating basement or garden-level concerns. Tenant amenities include a two-car garage and on-site laundry facilities. Recent capital improvements (within the last three years) encompass a new roof, windows, a 75-gallon hot water heater, skylights, laundry machines, and xeriscape landscaping. Each unit has separate electric meters, allowing for direct tenant billing. The property's current Net Operating Income (NOI) is $46,011, with a pro-forma NOI of $50,567, yielding a current cap rate of 5.00% and a pro-forma cap rate of 5.50%. The asking price is $920,000, translating to a price per unit of $306,666.67 and a price per square foot of $392.16. The property is zoned G-MU-5. This turnkey property requires no deferred maintenance, making it an ideal acquisition for both owner-occupants seeking rental income and investors aiming to expand their portfolio in a highly desirable location.