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!!

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

Address: 1631 Race St, Denver 80206

Asking Price: 535k

I, Brian MacMillan, represented the Buyer on this transaction.

Final Sales Price: $505,750!!!

Within this Denver income property there are 3 studio units & 3 one bedroom units (with a loft bedroom).  There’s off street parking around back for the tenants and coin operated laundry in the basement (owner owned).

Lets take a look at how the numbers/return breaks out on this Denver investment/income property:

AAI (Average Annual Income): $49,692

AAE (Average Annual Expenses): $12,233

AANI (Average Annual Net Income): $37,459

PAI (Projected Annual Income): $52,560

PANI (Projected Annual Net Income, keeping expenses the same): $40,327

The capitalization rate (Cap Rate) off the asking price was 7%.  My client’s current Cap Rate, based upon the reduced sales price, is 7.4%. The pro forma, or projected income, is based upon rents being a little below market value and tenants currently not paying for off-street parking. Once those items are implemented, my client will be looking at a Cap rate of 8%!!

Are your investments currently giving you a return between 7.4-8%??  Are your current investments in a commodity that has a good chance of appreciation, on top of monthly cash flow, in the near and long term??  If not, and you’re interested in finding out more about Denver Income Properties, Contact Me, Brian MacMillan, for more info on how to get started owning Denver Investment Properties.