Just Sold: 4243 Zuni St, Denver CO 80211
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.