For Sale
$1,050,000

1440 Columbine StDenver, CO 80206

3-Unit Congress Park Apartment Building

Overview

Added:
Dec 11, 2024
Days on market:
116
This stunning, turn-of-the-century converted mansion, located at 1440 Columbine St in Denver, CO 80206, presents a unique multifamily investment opportunity. Boasting three recently renovated units – one studio, one one-bedroom, and one two-bedroom – this property offers an excellent unit mix to maximize rental income. The 2,994 square foot building sits on a 4,500 square foot lot and includes four off-street parking spaces, a significant advantage in this desirable Denver neighborhood. Recent capital improvements, completed within the last five years, include a new roof (2018), a new furnace (2019), and updated vinyl windows throughout. Additional upgrades encompass fresh exterior paint, enhanced landscaping featuring a new retaining wall, and new laundry equipment in the basement. The unfinished basement presents potential for expansion, offering the possibility of additional storage for tenants or even the creation of an extra rental unit. The property's current NOI is $44,489, with a pro-forma NOI of $52,721, and a pro-forma cap rate of 5.00%. The asking price is $1,050,000, representing a price per unit of $350,000 and a price per square foot of $357. This turnkey property, situated near City Park and Congress Park, is ideally suited for an owner-operator seeking a low-maintenance, high-return investment in a prime Denver location. The property is zoned U-RH-3A. This is a rare opportunity to acquire a well-maintained, income-producing asset in a highly sought-after area.

Highlights

  • $1,050,000 asking price for this 3-unit apartment building in Denver, CO.
  • Excellent unit mix: one studio, one one-bedroom, and one two-bedroom apartment.
  • Four off-street parking spaces.
  • In-unit washer and dryer.
  • Recently updated roof and furnace.
  • Turnkey property near City Park and Congress Park.

Property Details for 1440 Columbine St

Property type
Apartment buildings
Square Feet
2,994 SF
Year Built
1894
Units
3

Location Insight

City
Denver
County
Denver
State
Colorado
Latitude
39.7391962
Longitude
-104.9571968
1440 Columbine St, Denver, Colorado

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1440 Columbine St
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