3453 Franklin St Denver, CO 80205

This exceptional value-add opportunity presents a 5-unit apartment building located at 3453 N Franklin St, Denver, CO 80205. The property boasts a desirable location in Denver's Cole neighborhood, offering close proximity to the vibrant RiNo Art District, serene City Park, and the bustling Downtown Denver area. Built in 1888, this two-story building sits on a 1,250 square foot lot and comprises 1,983 square feet of living space. Currently operating at 100% occupancy, the property generates a Net Operating Income (NOI) of $47,935, representing a 4.79% capitalization rate. A pro-forma NOI of $56,200 and a pro-forma cap rate of 5.62% indicate significant upside potential. Each of the five units is individually metered for gas and electricity, offering efficient utility management. The asking price is $1,000,000, translating to $200,000 per unit. The property is zoned U-SU-A1 and presents a compelling opportunity for an investor seeking to enhance rental income through interior unit upgrades. This strong cash-flowing asset benefits from historically low vacancy rates and quick lease turnover, making it an attractive investment prospect. The property is not subject to a ground lease.