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Property profile & analytics
OFF-MARKET Estimated value $1,210,000
Apartment buildings

1159 Corona St Denver, CO 80218-2822

3,724 SF 0.14 ac lot Built 1900
Entity Owned 6-yr Hold
Property ID
US13-0260782
Property summary
AI-generated overview

This fully renovated, seven-unit apartment building in Denver's vibrant Capitol Hill neighborhood presents a compelling investment opportunity. Boasting 4,075 square feet, the property features a desirable mix of studio, one-bedroom, and two-bedroom units, each benefiting from recent plumbing replacements and updated fixtures. Significant capital improvements exceeding $350,000 have been completed, including a new roof (2019), new windows, a brand-new boiler control system, upgraded landscaping, and the installation of on-site laundry facilities (2020) and a security camera system (5 cameras). The building's prime location offers easy access to Cheesman Park, Downtown Denver's employment hub, and a wealth of nearby retail options, including Ideal Market, Potager, and King Soopers. With a 92 Walk Score ("Walker's Paradise"), this property attracts high-quality tenants. Currently generating a Pro-Forma NOI of $112,084 and a Pro-Forma Cap Rate of 5.60%, the below-market rents offer significant potential for increased cash flow through future rent adjustments. The asking price is $2,000,000, representing a price per unit of $285,714.29 and a price per square foot of $490.80. Built in 1900 and extensively renovated in 2023, this property is a turnkey investment ready for immediate income generation and long-term appreciation. The ample parking ratio for central Denver further enhances its appeal.

Property profile
Verified
Property type Apartment buildings
Use group APARTMENT HOUSE (5+ UNITS)
Year built 1900
Total area 3,724 SF
Lot 0.14 ac (6,315 SF)
Zoning code G-MU-3
APN 05022-31-017-000
UPID US13-0260782
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
  • Humble hair co Hair Salon
Value estimations
Realmo proprietary · 4 methods
AI Approach AI
$1.21M
CAP Approach CAP
$870k
Comparable Approach Comparable
$1.27M
Blend (final) Blend
$1.21M
Owner & transaction history
1159 Corona Street LLC · 6 yrs held
1159 Corona Street LLC
since 2020
Last sale
$1.1M
7 recorded transactions
2022
Price N/A
2020
$1.1M
2013
$701,000
2011
$399,000
2004
Price N/A
1999
$307,000
1998
$269,000
Zoning & alternative use
G-MU-3 · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Zoning description

G-MU-3 Multi Unit 3 G-MU-5 Multi Unit 5 G-MU-8 Multi Unit 8 G-MU-12 Multi Unit 12 G-MU-20 Multi Unit 20 G-RO-3 Residential Office 3 G-RO-5 Residential Office 5 G-MX-3 Mixed Use 3 G-RX-3 Residential Mixed Use 3 G-RX-5 Residential Mixed Use 5 G-MS-3 Main Street 3 G-MS-5 Main Street 5 SE CTION 6.2.2 RESIDENTIAL DISTRICTS (G-RH-3, G-MU-3 TO -20, G-RO-3, G-RO-5)…

Zone name General Urban Neighborhood Context Multi Unit 3
General category RESIDENTIAL
Zone area 751.92 ac
Source Denver Zoning Code
Top alternative use upside
Auto repair, garage $1.5M +8.9%
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