702 12th St Golden, CO 80401-1110
- Parking lots & garages
- 7,216 SF
- 0.03 lot acres
Current Use by Public Records
- Parking lots & garages
Property Details for 702 12th St
- Year built
- 2001
- Construction
- STEEL FRAME
- Lot size
- 0.03 lot acres
- Property size
- 7,216 SF
- Property type
- Parking lots & garages
- APN
- 30-273-10-035
- APU
- 3027310035
Description
The Rob Roy, a charming 45-unit apartment building located at 702 E 12th Ave in Denver, Colorado's Capitol Hill neighborhood, presents a compelling investment opportunity. This vintage property, built in 1925, boasts 18,462 square feet on an 11,100 square foot lot and is zoned G-MU-5. The building features 44 studio units and one larger one-bedroom apartment, offering potential for increased revenue through unit reconfiguration. Currently, the property generates a NOI of $310,210, with a pro-forma NOI of $352,669, representing a 4.43% cap rate. The asking price is $6,200,000, or $155,555.56 per unit, and $379 per square foot. Six off-street parking spaces are available and leased to residents. The building benefits from recent upgrades, including newer heating and domestic hot water boilers, updated vinyl windows throughout, and updated electrical service supplemented by solar panels on the roof, significantly reducing energy costs. The brick exterior and high-visibility corner location contribute to strong curb appeal and tenant attraction. A financial analysis is available, highlighting the significant upside potential through strategic renovations and maximizing rental income. This property offers a blend of classic charm and modern efficiency, making it an attractive investment for a value-add buyer seeking to capitalize on the Denver market.
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
- Golden
- County
- Jefferson
- State
- Colorado
- Longitude
- -105.221
- Latitude
- 39.7563
- CBSA code
- 19740
- CBSA name
- DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA
