2352 Broadway Denver, CO 80210-5007

Property Details for 2352 Broadway

Year built

1924

Construction

WOOD

Lot size

0.14 lot acres

Property size

3,564 SF

Zone code

U-MX-3

Property type

Garden apartment buildings

APN

05275-02-008-000

APU

527502008000

Description

This exceptional four-unit apartment building, located at 2352 S Broadway in Denver, Colorado, presents a compelling investment opportunity. The property boasts a total of 3,564 square feet on a sizable 6,250 square foot lot, zoned MX-3. Built in 1924, the building comprises a mix of unit sizes: two 2-bedroom, 1-bathroom units and two 1-bedroom + den, 1-bathroom units. Each unit is equipped with in-unit laundry, and features separate gas and electric meters for efficient utility management. The property benefits from a newer roof and an income-producing garage, adding to its overall value. Currently generating a NOI of $43,255, with a pro-forma NOI of $51,453, this property offers a 4.22% cap rate and a pro-forma cap rate of 5.02%. The asking price is $1,025,000, translating to $256,250 per unit and $287.60 per square foot. Its prime location, just south of Platt Park and east of Harvard Gulch, provides convenient access to public transportation and a desirable neighborhood for tenants. The large lot size and potential for rental upside further enhance the long-term value and investment potential of this well-maintained property. Owner-occupants and investors alike will find this property attractive due to its strong cash flow, desirable location, and potential for future appreciation. This competitively priced four-plex offers a rare opportunity to acquire a well-positioned multifamily asset in a thriving Denver neighborhood.

Location Insight

City

Denver

County

Denver

State

Colorado

Longitude

-104.987

Latitude

39.6739

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments