5551 Delaware StLittleton, CO 80120

This six-unit apartment building located at 5551 S Delaware St, Littleton, CO 80120, presents a compelling investment opportunity. Built in 1960, the property features a mix of two one-bedroom/one-bathroom units and four two-bedroom/one-bathroom units, each with individual gas and electric meters, allowing tenants to pay utilities directly. Units include in-unit laundry hookups. Heating is provided by individual furnaces. The property boasts a net rentable area of 4,278 square feet and is offered at $1,000,000, representing a price per square foot of $234 and a price per unit of $166,667. The current Net Operating Income (NOI) is $46,554, yielding a 4.70% cap rate. However, a pro-forma analysis projects a significantly higher NOI of $76,610 and a 6.70% cap rate, indicating substantial upside potential. The property benefits from a new roof and below-market rents, providing a clear path for value enhancement through renovations and rent increases. This property is ideal for investors seeking to add value and maximize returns. The property is situated in Arapahoe County.