Sold Price: $1,125,000

I represented the Seller on the sale of this 6 unit apartment building in City Park West/Uptown that was grossing close to 100k/annually.

Once the sale was completed my Seller finalized a reverse 1031 exchange (replacement property was bought first, then this building was sold afterwards).

This was a bittersweet deal because I helped the Seller buy this building over 10 yrs ago too. The new owner has extensive experience with older properties and plans to continue preserving the property for future generations to enjoy.

Interested in Denver apartment buildings for sale? Reach out to discuss further…

Offered @ $1,195,000

Value Add Opportunity on a great block in City Park West/Uptown! This converted 6 unit offers 3 studio units on the main level and 3 one bedroom units (with lofts) on the second level. All tenants have access to a coin operated (Seller owned) washer/dryer in the basement. Seller is in the process of updating all units once leases come due, currently 4 of the 6 units have been updated. This is a great walkable location to all the hots spots on 17th, City Park, and several hospital/health care providers. This is a great asset without having to do anything, it’s currently bringing in close to 100k annually!!

Purchase Price: 600k

Recently I helped investor clients buy this single family home in the Sunnyside neighborhood (NW Denver) that is zoned for an ADU (accessory dwelling unit). As is, the home is in good condition with minor updates needed to rent long term. Future value add scenarios are remodel/update the current home and develop an ADU above a 2 car garage off the alley, or request a zoning change with City of Denver to allow for a brand new side by side duplex which is seen all over NW Denver.

My clients sold two duplexes in Kansas City and rolled their proceeds into this property through a 1031 exchange. This allows them to manage their investment themselves since they live in Denver now and they should see greater appreciation in the Denver market long term.

If you have investments in other states and feel Denver would be a better area to invest, lets discuss the process of executing a 1031 exchange and acquiring properties in Denver that could out perform your current holdings.

The entire Berkeley neighborhood has seen new development for years, now Regis University has recently released a Master Plan for moving forward regarding expansion. I obviously think it’s a great time to look at purchasing a buy and hold property in the Berkeley/Regis neighborhood that could be a profitable campus housing property. This purchase was an off-market opportunity that I took advantage of; however, the majority of the time I pass these opportunities along to clients of mine. Please let me know if you have interest in similar Denver investment properties.

Here’s a few photos of the property I just purchased through my 1031 exchange in the Regis University/Berkeley neighborhood:

I listed this rental property of mine in Edgewater for 400k. After 68 showings and 5 offers, I closed above asking price through a 1031 exchange. I have located my replacement property which will provide significantly more cash flow, especially with how low interest rates are currently! Check back next month for all the details on the property I decided to roll my 1031 exchange proceeds into.

This year the Colorado Senate voted down proposed rent control. Denver is currently twice as affordable than San Fran, as well many other cities in CA. Current clients of mine with ties to CA have told me this rent control bill actually creates the exact opposite result as intended: many long term renters have ‘sweetheart deals’ in place because they’ve been responsible over a long period of time and their landlord gives them a break because of it. Now, these landlords are forced to raise their tenant’s rent to market rates because they won’t be allowed to increase rent over 5% moving forward with rent control measures in place.

If you’re weighing your options on potentially selling in a rent controlled state, lets discuss how Denver investment properties could be a better solution through a 1031 exchange. Just interested in purchasing investment properties? Lets discuss some great opportunities I have as well.

Sales Price: 970k

I represented the Seller on this duplex (both sides) transaction in Capital Hill/Governors Park.

One side was rented for $3500/month with the tenants paying all utilities. The other side was vacant making it an attractive unit for a primary residence Buyer who wanted to off-set their mortgage with the high rental income next door.

Are you an investor who is looking at selling a duplex like this and rolling your proceeds into a larger investment property tax deferred through a 1031 Exchange? Reach out below and lets discuss further.

Or, are you a savvy Buyer who isn’t afraid of house hacking like the scenario above? House hacking in Denver is becoming very popular as prices increase. Reach out below and lets discuss some options that would be a benefit to you.

Lets break down some key factors and how they’ll affect the rest of this yr:

Interest Rates: Both owner and non-owner occupant rates are super low, almost free money.  Savvy investors are buying now because they’re cash flowing more due to these low rates.

Vacancy Rates: My clients tell me all the time they put an ad on Craigslist and have 20 responses in less than an hr.  Inventory can’t keep up with demand, which means bidding wars amongst renters.  I was speaking with another agent last week, he told me he just rented out a house to a business owner that gave him $1,000 to spend at her retail shop in Denver if he accepted her application.

Market Rents: Supply & Demand 101, extremely low vacancy rates means rents are soaring.

Appreciation: There is a huge pinch happening right now in Denver and the surrounding areas.  Homes/Condos available for purchase are extremely limited.  Denver’s population is the largest its ever been right now and our inventory is the lowest its ever been since the MLS has been in existence!!  Same is true for Denver Income Properties for sale due to low interest and vacancy rates, matched with soaring rents and appreciation.  My office, in the Lower Highlands/LoHi, appreciated 26% last yr!

Everyone’s situation is different.  Give me a call/email to discuss how to get started, or maybe take advantage of selling a current asset and utilize a 1031 exchange into a larger asset.  Denver Investment Properties are on fire right now, lets talk to see how you can take advantage of the factors mentioned above:

Brian MacMillan: Investment Specialist

720-938-4350