1267 Marion St Denver, CO 80218-2220
- Apartment buildings
- 2,405 SF
- 0.19 lot acres
Current Use by Public Records
- Apartment buildings
Property Details for 1267 Marion St
- Year built
- 1905
- Lot size
- 0.19 lot acres
- Property size
- 2,405 SF
- Zone code
- G-MU-3
- Property type
- Apartment buildings
- APN
- 05022-22-025-000
- APU
- 502222025000
Description
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.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $220,000
-
Comparable approach
- Method
- Estimation
- AI Estimate
- $212,000
Market price range: $86.2k - $338k
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Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Denver
- State
- Colorado
- Longitude
- -104.972
- Latitude
- 39.7362
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA
