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!!

Listed @ 840k, Sold for $875,000

This luxury brand new half duplex is located directly across from Jefferson Park. High end finishes include commercial grade Viking appliances, sleek cabinetry in kitchen/baths from Porcelanosa, spanish tile in kitchen/baths also from Porcelanosa, Anderson windows, and interior walls finished at a level 5 smooth modern finish.

Keep an eye out for the other two units Coming Soon in the south duplex at this Jefferson Park duplex development. Reach out if interested…here’s a few photos from this luxury Denver duplex that just closed:

List Price: $1,175,000

Closing Price: $1,265,000

I recently helped developer/Seller clients close 90k over asking price on the north side of this brand new half duplex on Osceola St, only half a block south of Sloan’s Lake!! Between professional staging from Guest House, photos from Yellow Umbrella Imaging, a quality build out by Dohn Construction, and Brian MacMillan’s extensive experience negotiating these types of transactions, the Sellers started off the project knocking it out of the park as they say.

If you’re interested in Denver Investment Properties and development projects like this, reach out and lets discuss if a scenario like this fits your goals and interests.

Check out a few photos showcasing this brand new luxury duplex in Sloan’s Lake:

List Price: 635k (includes both sides)

Great opportunity for either a primary residence Buyer(s) or an investor to own a side-by-side duplex in N Denver! Front unit (1825) is unique because it has a kitchen on the main level, as well another kitchen in the basement. There are two bedrooms, a full bath, kitchen, living room upstairs. Downstairs has another kitchen/living room and a bedroom/bath, plus washer/dryer (owned). Back unit (1835) has three bedrooms and a full bath on the main level, plus kitchen/living room/access to the fenced in backyard. Downstairs in this unit there is a large family room plus a full bathroom and laundry (owned). All main level bedrooms have oak hardwoods in good condition. Both sides have room to move based on current rents vs market rates. Showings are happening on 5/13 & 5/14 between 11-1 both days.

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

The layout of the building currently includes 4 studio units, 4 one bedroom units, and 2 two bedroom units.  For those of you familiar with Cap Hill, you know how frustrating finding street parking can be.  The beauty of this building is the 8 reserved parking spots in the rear.  Tenants love not worrying about parking and are willing to pay additional money for a reserved spot in this location!

With the stock market acting like a roller coaster, Denver investment properties are extremely popular right now.  You saw what the returns are above, rents are on the rise, vacancy rates are super low, and Denver falls in the top 5 relocation areas in the country.  Contact Me, Brian MacMillan, for more info on how to get started with similar Denver cash flowing properties.

Here are a few photos of the building:

LIST PRICE: 550k

SOLD PRICE: $508,650 (I represented the Buyers).  Amazing Deal!!!

Today’s Denver Investment Property‘s JUST SOLD home resides in the Park Hill area of Denver.  The style of this home is considered a Denver Square, 3 stories tall, with a basement.  I represented the Buyers on this transaction, they plan to fully renovate the entire home.  Check out the current/before shots, I’ll post some ‘after’ shots this coming spring:

Interested in Denver Investment Property?  Contact Me (Brian MacMillan) for more info, the above property was only on the market 5 days with multiple offers, I work quickly and have software that found this deal.

The historically low rates aren’t the only reason why you should be interested in buying Denver rental properties right now, there are several other factors to consider as well.

First, lets discuss what is currently going on in the Denver real estate market overall.  With the federal tax credit expiring at the end of April, showings on metro properties during the months of May & June drastically decreased.  With showings down, total sales have gone down along with it.  This caused a shift in the market, going from a Seller’s market in March & April, to a Buyer’s market in May and the months that followed.  This Buyer’s market is a perfect opportunity for investors to purchase real estate while the market favors them.

Another key factor to evaluate when purchasing rental properties is what the current vacancy rates are.  Vacancy rates are a measure of the number of units vacant or empty, not producing rental income.  In 2004, the vacancy rate in Denver Metro was 13.1%.  In 2005, it was 9.5%. In 2009, it was 5.2%.  Now, the Denver Metro vacancy rate is 3.8%!!  These figures are based off 1-4 unit properties.

With historically low interest rates matched with historically low vacancy rates, it is a great time to be a landlord.  Units are full and landlords have the upper hand with tenants.  Rents are also increasing, resulting in maximum cash flow to the investor!!

It is relatively easy to qualify for a loan on rental properties currently.  Basic requirements: 20% down, a job, 680 or higher FICO score, no major hits on the credit report.  If you need a referral for a great mortgage broker to speak with, just ask!

There are several great Denver rental properties available right now, we just need to talk about what your short and long term goals are and get out to see a few that fits your criteria.  If you’d like to search yourself to get an idea what is available, feel free to use my Denver Investment Properties free MLS site to search yourself:

http://denverinvestmentproperties.com/metro-denver-income-properties/

Regards–

Brian MacMillan

Your Castle Real Estate