3203 Albion St Denver, CO 80207-1811

Property Details for 3203 Albion St

Year built

1939

Construction

WOOD

Lot size

0.43 lot acres

Property size

5,535 SF

Zone code

E-SU-DX

Property type

Garden apartment buildings

APN

01302-08-007-000

APU

130208007000

Description

This fully renovated, six-unit apartment building presents a compelling investment opportunity in Denver's desirable Park Hill neighborhood. The property, built in 1932 and completely renovated in 2024, boasts 5,250 square feet across two buildings situated on a 0.43-acre lot. The asking price is $2,350,000, representing a price per unit of $400,000 and a price per square foot of land value at $457. The property features a mix of unit sizes: two three-bedroom units and four one-bedroom units, each with its own address and utility meter (water is shared). A comprehensive renovation included new plumbing, electrical, furnace, central air, roofing, doors, and windows. All units feature new Life Proof White Oak LVP flooring, remodeled kitchens and bathrooms, and new doors and trim. The property is 100% electric, meeting current energy efficiency codes and prepared for solar installation. A new survey has been completed to allow for parcel splitting, and a party wall agreement is available for future owners. The property enjoys a 5.6% cap rate with a net operating income (NOI) of $133,501. Its prime location near City Park, shopping districts, and I-70 offers both convenience and strong potential for appreciation. The property is located in an Opportunity Zone, providing significant tax advantages. One parking space is available. The permitted zoning is E-SU-DX. This turnkey property is ideal for investors seeking passive income and long-term growth.