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!!

Sold Price: $1,150,000

I represented the Buyers on this purchase who purchased as an owner occupant (they plan to live in 1 of the 4 units as their primary residence).

My clients are planning on fixing up all 4 units as they become available over the next few yrs, then raising rents to market rates, and potentially doing the same process all over again while keeping this building as a cash flowing investment.

Lets talk about interest rates and how those affected this deal….we were able to get a large Seller concession to buy my client’s rate down through a 3-2-1 buy down. My clients have a 3% interest rate for the first year which allows them to live essentially mortgage free (the 3 other units are paying the mortgage through their rent payments) the first yr, which then allows them to put $$ back into the property that they might not have with our current market rates.

If you have desire, motivation, and dreams to get ahead in life, this scenario is for you! Reach out to discuss further, I’m Not Hard To Find.

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: