1690 Girard Ave Englewood, CO 80110

Property Details for 1690 Girard Ave

Year built

1945

Property size

8,576 SF

Property type

Commercial real estate

Description

This exceptional 16-unit apartment building in Englewood, Colorado, presents a compelling investment opportunity. Located at 1690 W Girard Ave, this property boasts 8,576 square feet on a 31,363 square foot lot and offers a strong current NOI of $135,013, with a pro-forma NOI projected at $167,607, resulting in a pro-forma cap rate of 7.62%. The asking price is $2,200,000, translating to $137,500 per unit and $256.53 per square foot. Built in 1945, the property comprises four single-story buildings and includes 16 off-street parking spaces (a 1:1 ratio), providing ample parking for residents. Twelve of the sixteen one-bedroom units have recently undergone upgrades, featuring new luxury vinyl plank (LVP) flooring, updated bathrooms, fresh paint, and new carpeting in the bedrooms. All units benefit from new double-paned windows. The property also features a well-maintained interior courtyard and 24-hour secure on-site laundry facilities. Its prime location near River Point at Sheridan offers convenient access to shopping, dining, and entertainment options, and its proximity to major thoroughfares like Hampden Ave, Federal Blvd, and Broadway ensures excellent accessibility. The property's historically strong occupancy rates and well-maintained condition, combined with the potential for further value-add renovations, make this a truly attractive investment prospect. Each unit provides both front and back entrances, enhancing convenience for residents.

Location Insight

City

Englewood

County

Arapahoe

State

Colorado

Longitude

-105.00752247542

Latitude

39.655310178571