Property summary
This exceptional 9-unit apartment building presents a compelling investment opportunity in Denver's desirable Congress Park neighborhood. The property, built in 1891, features 4,310 square feet across two stories on a 0.1-acre lot and is zoned R-3. Currently generating a NOI of $71,747 (4.56% cap rate), a pro-forma NOI of $105,473 (6.70% cap rate) is projected, reflecting significant rental upside. Each of the nine units offers a charming living space, and the property benefits from two sets of on-site coin-operated laundry facilities, enhancing tenant convenience and operational efficiency. The asking price is $1,575,000 ($175,000 per unit and $365.43 per square foot). Its prime location provides residents easy access to Cheesman Park, the Botanic Gardens, and Cherry Creek, as well as a variety of popular restaurants including Peter's Chinese, Shells and Sauce, Chef Zorba's, Downpours Coffee, Voodoo Doughnut, Doppio Coffee, and Olive & Finch. This asset is ideally suited for investors seeking strong returns and appreciation potential in a vibrant, historic Denver location. The building's address is 1291 N Gaylord St, Denver, CO 80206.
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
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Value estimation
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Cap rate
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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…
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