4510 St Clair Pl Denver, CO 80212

This exceptional value-add opportunity presents a 42-unit apartment building located at 4510 W St Clair Pl, Denver, CO 80212. The property, built in 1973, boasts a substantial 2.66-acre lot, offering significant potential for future development. The existing building comprises 28,728 square feet and features a mix of 34 one-bedroom/one-bathroom units and 8 two-bedroom/one-bathroom units, along with 60 parking spaces. Currently, only three units have undergone significant updates, while twenty units include stainless steel appliances. The remaining units are well-maintained. Amenities include two on-site laundry facilities, elevator access, and a central courtyard with picnic tables, grills, and seating. The property's current NOI is $442,376, with a pro-forma NOI of $558,113, reflecting a 5.71% cap rate and a pro-forma cap rate of 7.20%. The asking price is $7,750,000, translating to $184,523.81 per unit and $269.77 per square foot. The property is zoned R-3 and offers convenient access to Regis University and desirable Denver neighborhoods, parks, and lakes. The large vacant portion of the lot presents a compelling opportunity for expansion. This is a rare chance to acquire a well-located, multifamily property with substantial upside potential in a thriving Denver market. The property is a three-story, single-building structure.