1508 Tamarac St Denver, CO 80220

This Denver, CO property, located at 1508 Tamarac St, 80220, presents a unique mixed-use investment opportunity. The property consists of two buildings totaling 2,416 square feet on a 5,520 square foot lot, with four parking spaces. Built in 1932 and renovated in 2015, the property features a main house and a separate accessory dwelling unit (ADU), currently vacant and available March 31, 2024. The main house offers approximately 2,016 square feet with three bedrooms and two full bathrooms, plus a finished attic/loft area and finished basement. The ADU, approximately 400 square feet, includes one bedroom and one bathroom. Both units are separately metered for gas and electricity. The property is zoned E-MS-3, allowing for up to three stories, and is situated in a high-traffic area within an Opportunity Zone. This versatile zoning permits various uses, including residential, office, retail, or a combination thereof, making it ideal for owner-occupancy or as a rental investment. The asking price is $625,000, representing a price per square foot of $258.69 and a price per unit of $312,500. The pro-forma cap rate is 6.40%, with a projected net operating income (NOI) of $40,000. The property is classified as Class B, with a NNN lease type. This property offers significant potential for a variety of uses and strong return on investment.