UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,529 sqft
Subdivision Washington Park West
MLS Listing ID IRE6883828
Bedrooms 4
HOA Y/N No
Year Built 1900
Annual Tax Amount $3,356
Tax Year 2021
Source ires
Property Description
The building has a history of staying full, with strong, consistent rental demand. The unit mix is two 2-bed/1-bath units and two 1-bed/1-bath units. The units were renovated with updated kitchens and baths, so a new owner has minimal near-term capital needs. Current rents produce a 5.50% cap rate at list price, with upside to a 6.04% pro forma as rents move to market.
Location drives the demand. The property is just a short walk from the I-25 & Broadway light rail station, one of Denver's busiest transit hubs, and close to Washington Park, the South Broadway shops and restaurants, and quick routes to Downtown and I-25. Residents also have off-street parking, on-site laundry, basement storage and a fenced shared patio.
A turnkey, fully leased asset with in-place income and room to grow, well suited to a 1031 exchange or a first step into small multifamily. Offering memorandum, rent roll and financials available upon request. Please do not disturb tenants. All showings by appointment with listing broker only.
Location
State CO
County Denver
Community Washington Park West
Area Metro Denver
Zoning U-TU-B2
Rooms
Basement Partial
Interior
Heating Radiant
Cooling Wall/Window Unit(s)
Exterior
Exterior Feature Tandem Garage
Parking Features Off Street
Garage Spaces 8.0
Utilities Available Master Meter-Gas, Separate Meter Electricity
View Y/N No
Roof Type Composition
Garage Yes
Building
Lot Description Level
Sewer Other
Water Other
Level or Stories Two
Structure Type Frame,Brick
New Construction false
Schools
Elementary Schools Lincoln
Middle Schools Hill
High Schools Denver District 1
School District Denver District 1
Others
Acceptable Financing Cash, Conventional, FHA
Listing Terms Cash, Conventional, FHA
Special Listing Condition Private Owner
NEARBY SCHOOL & BUSINESS
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