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Property profile & analytics
OFF-MARKET
Estimated value
$580,000
Garden apartment buildings
425 1st Ave Denver, CO 80223-1511
Individually Owned
3-yr Hold
Free & Clear
Property ID
US13-0419651
Property profile
Verified
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Year built
2018
Construction
WOOD
Total area
2,700 SF
Lot
0.04 ac (1,552 SF)
Zoning code
U-RH-2.5
APN
05102-37-034-000
UPID
US13-0419651
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
by Request
CAP Approach
CAP
by Request
Comparable Approach
Comparable
$774k
Blend (final)
Blend
$580k
Owner & transaction history
Catherine L Pedersen · 3 yrs held
Catherine L Pedersen
since 2023
Last sale
$29,050
7 recorded transactions
Zoning & alternative use
U-RH-2.5 · Denver, CO
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Neighborhood: shopping center
$875,000
+2.9%
Commercial (general)
$875,000
+2.6%
Retail stores
$870,000
+1.9%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Denver submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Denver submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
by Request
ML approach
by Request
CAP Approach
CAP Return
Estimation
6%
by Request
6.5%
by Request
7%
by Request
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$850,000
Current use
NEIGHBORHOOD: SHOPPING CENTER
$875,000
Change: +3% · Conversion: Difficult
COMMERCIAL (GENERAL)
$875,000
Change: +3% · Conversion: Moderate
RETAIL STORES
$870,000
Change: +2% · Conversion: Difficult
MEDICAL BUILDING
$820,000
Change: -4% · Conversion: Moderate
OFFICE BUILDING
$795,000
Change: -7% · Conversion: Moderate
Blend value · Realmo final
$580k
Range $522k – $638k · ±10% · vs last sale $29k (Jul 12 2023)
Last sale anchor
$29k
Jul 12 2023
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$215 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2023Property tax & assessments
Tax year 2023
Tax billed
$4,850
Tax year 2023
Assessed value
$62,590
Assessed 2023
Previous assessed
$45,090
+38.8% YoY
Effective rate
7.75%
On assessed value
Assessed land
$5,570
Assessed improvement
$57,020
Land market value
$138,100
Improvement market value
$851,100
Total market value
$989,200
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Garden apartment buildings
Use group
GARDEN APT, COURT APT (5+ UNITS)
Status
Off-Market
Year built
2018
Construction
WOOD
Heating
FORCED AIR
Cooling
CENTRAL
Stories
2
Units
2
Rooms
6
Total area
2,700 SF
Lot
0.04 ac (1,552 SF)
Zoning code
U-RH-2.5
APN
05102-37-034-000
UPID
US13-0419651
Jurisdiction
DENVER
Zoning & alternative use
U-RH-2.5 · Denver, CO
Zoning U-RH-2.5 · permitted uses
U-RH-2.5 · Denver, CO
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Denver. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$850,000
NEIGHBORHOOD: SHOPPING CENTER
Est. value
$875,000
COMMERCIAL (GENERAL)
Est. value
$875,000
RETAIL STORES
Est. value
$870,000
MEDICAL BUILDING
Est. value
$820,000
OFFICE BUILDING
Est. value
$795,000
APARTMENT HOUSE (5+ UNITS) Current
NEIGHBORHOOD: SHOPPING CENTER
COMMERCIAL (GENERAL)
RETAIL STORES
MEDICAL BUILDING
OFFICE BUILDING
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
2018
Construction
WOOD
Heating
FORCED AIR
Cooling
Yes
Stories
2
Units
2
Rooms
6
Lot
0.04 ac
Current owner
From public records · entity-resolved
Catherine L Pedersen
Individual
Free & Clear · 3 yrs held
Mailing address
437 W 1ST AVE, DENVER, CO 80223-4801
Ownership since
2023
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
8 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Jul 12, 2023
—
Catherine L Pedersen
Cathy Pedersen
Intrafamily Transfer
related
—
May 21, 2010
$29,050
Cathy Pedersen
Gilbert,bennett M
Warranty Deed
$26,550 · Thomas Shervanick
Apr 8, 2010
$2,500
Bennett M Gilbert
Shervanick,thomas M
Warranty Deed
—
Aug 24, 2009
—
Thomas M Shervanick
Shervanick,jerome M
Quit Claim Deed
related
—
Dec 29, 2008
—
Jerome M Shervanick
Shervanick,thomas M
Quit Claim Deed
—
Oct 7, 2005
$119,250
Thomas M Shervanick
Martinez,alfonso O & Carol R
Warranty Deed
$190,800 · Indymac Bank Fsb
Nov 10, 2004
—
Carol R Martinez
Martinez,alfonso O & Isabel
Quit Claim Deed
related
—
—
—
Cathy Pedersen
—
Deed Of Trust
related
$600,000 · Tichenor David T L/tr (lt)
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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