8828 Colfax Ave Denver, CO 80220

This exceptional 14-unit motel, located at 8828 E Colfax Ave in Denver, Colorado, presents a compelling investment opportunity. The property boasts 4,188 square feet on a 0.14-acre lot, currently operating as the La Rue Motel. Priced at $1,050,000 ($250.72/sq ft), it offers a strong projected net operating income (NOI) of $148,837.57 for 2024, resulting in a 14.18% capitalization rate. The property benefits from a high-traffic location on East Colfax Avenue, providing excellent visibility and accessibility to downtown Denver and major transportation routes. Recent renovations include a complete electrical service upgrade. Five units feature kitchenettes, and on-site manager quarters are included. A billboard on the premises generates additional annual income of $3,300. The property's 2023 property taxes totaled $3,331.90. Its proximity to public transportation (bus stop within walking distance), local attractions, and ongoing neighborhood development and revitalization efforts further enhance its investment appeal. This established motel offers stabilized income and significant potential for future growth. The property's history as part of Colfax Main Street adds to its unique character and value.