Brian represented the Seller on this Sunnyside triplex for sale which resulted in 5 offers over a market rate asking price. Prior to the sale the Seller did add some capital improvements to the project that certainly paid dividends in the end.

If you’re interested in purchasing or selling income property and want to work with an agent who specializes in these types of transactions, reach out to Brian below to discuss.

List Price: 405k

If you’re looking for cash flowing Denver Investment Properties for sale, this Denver 4-plex for sale is a great place to start.  All units are 2 bedrooms, 1 bath.  Each unit is currently on a month to month lease, I see that as a benefit to the new Buyer.  Lets take a look at how this Denver Income Property is currently performing:

AAI (Average Annual Income): $36,480

AAE (Average Annual Expenses): $10,575

AANI (Average Annual Net Income): $25,905

PAI (Projected Annual Income): $40,529

PAE (Projected Annual Expenses): $6,526

PANI (Projected Annual Net Income): $34,003

Based off the number above, the subject property is performing at a mid 6% Cap Rate.  There are a few ways owners/investors can increase Cap rates:

First, you could raise rents.  Our subject property currently has month to month leases in place. Denver vacancy rates are extremely low right now, rents are on the rise.  Raise rents immediately for increased cash flow/higher Cap rate.

Second, as the owner, implement utility bill backs to the tenants instead of paying their utilities for them.  This eliminates a good amount of your expenses and places those previous expenses into annual income, hence more cash flow/larger Cap rate.

Interest rates are still low, now is an amazing time to become apart of the Denver investment market and this is a great property to get started with!

Contact me, Brian MacMillan, for more info.

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.