3530 Lehigh Ave Denver, CO 80236
- Commercial real estate
- 9,720 SF
Current Use by Public Records
- Colorado Social Research Associates / Medical Clinic
Property Details for 3530 Lehigh Ave
- Year built
- 1972
- Property size
- 9,720 SF
- Property type
- Commercial real estate
Description
This exceptional 9-unit apartment building in Denver, Colorado presents a compelling investment opportunity. Located at 3530 W Lehigh Ave, in Arapahoe County, zip code 80236, this two-story, 9,720 square foot building boasts a 6.10% cap rate and a strong net operating income (NOI) of $128,000. Built in 1972 and extensively renovated in 2020, the property features a mix of six one-bedroom and three two-bedroom units, each updated with modern amenities. Upgrades include new kitchens with stainless steel appliances and granite countertops, updated bathrooms, new flooring, in-unit washer/dryers, and wall-mounted A/C units. One unit is handicap accessible. Significant infrastructure improvements include a new sewer line, electrical system, plumbing, and a monitored fire sprinkler system. The property offers nine dedicated parking spaces plus ample street parking, and a bike rack. Currently enjoying 100% occupancy since September 2020, this property provides a stable income stream. Its convenient location offers easy access to public transportation (light rail 5 minutes, bus stop 1 minute), and the River Point shopping center (5 minutes away). An assumable loan at a 3.36% interest rate is available through March 2031, further enhancing the investment appeal. The asking price is $2,100,000 ($216.05/sq ft, $233,333.33/unit). This turnkey investment is ideal for those seeking a reliable and profitable addition to their portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Denver
- County
- Arapahoe
- State
- Colorado
- Longitude
- -105.0335955
- Latitude
- 39.6479381
