4510 St Clair PlDenver, CO 80212

Property Details for 4510 St Clair Pl

Year built

1973

Lot size

2.66 AC

Property size (Sq ft)

28,728 SF

Property type

Residential income properties

Property subtype

Multifamily properties

Description

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.

Location Insight

City

Denver

County

Adams

State

Colorado

Latitude

39.7924

Longitude

-105.045

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