Entity Owned Property summary
Exceptional investment opportunity: a five-unit apartment building in Denver's desirable Cheesman Park neighborhood. This 2,913 square foot property, built in 1896, boasts a current NOI of $53,004 and a pro-forma NOI of $73,137, translating to a 4.24% cap rate and a pro-forma cap rate of 5.85%. The asking price is $1,250,000, or $250,000 per unit. The property features off-street parking, including a detached two-car garage. A main floor two-bedroom, one-bathroom unit, complete with a private yard and in-unit laundry, is ideal for owner-occupancy. Currently 100% occupied, this turnkey property offers immediate cash flow. Its prime location provides close proximity to the Denver Botanical Gardens, State Capitol Building, Denver Public Library, and numerous parks including Cheesman Park, Congress Park, Governors Park, and Civic Center Park. A wealth of nearby retail options includes Thump Coffee, Park Tavern, Snarf's Sandwiches, Potager, 3 Kilts, and Ideal Market. The 0.19-acre lot provides ample space. This is a rare opportunity to acquire a well-located, income-producing multifamily property in a thriving Denver neighborhood.
Property profile
VerifiedCap rate & NOI
Location
Value estimations
Owner & transaction history
Zoning & alternative use
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 Res…
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
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Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
G-MU-3 · Denver, COG-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 Res…
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
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 Res…
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for G-MU-3 in Denver, CO.
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