702 12Th AveDenver, CO 80203

Property Details for 702 12Th Ave

Year built

2001

Construction

STEEL FRAME

Lot size

0.03 AC

Property size (Sq ft)

7,216 SF

Property type

Retail properties

Property subtype

Parking lots & garages

APN

30-273-10-035

APU

3027310035

Description

The Rob Roy, a charming 45-unit apartment building located at 702 E 12th Ave in Denver, Colorado's Capitol Hill neighborhood, presents a compelling investment opportunity. This vintage property, built in 1925, boasts 18,462 square feet on an 11,100 square foot lot and is zoned G-MU-5. The building features 44 studio units and one larger one-bedroom apartment, offering potential for increased revenue through unit reconfiguration. Currently, the property generates a NOI of $310,210, with a pro-forma NOI of $352,669, representing a 4.43% cap rate. The asking price is $6,200,000, or $155,555.56 per unit, and $379 per square foot. Six off-street parking spaces are available and leased to residents. The building benefits from recent upgrades, including newer heating and domestic hot water boilers, updated vinyl windows throughout, and updated electrical service supplemented by solar panels on the roof, significantly reducing energy costs. The brick exterior and high-visibility corner location contribute to strong curb appeal and tenant attraction. A financial analysis is available, highlighting the significant upside potential through strategic renovations and maximizing rental income. This property offers a blend of classic charm and modern efficiency, making it an attractive investment for a value-add buyer seeking to capitalize on the Denver market.

Location Insight

City

Golden

County

Jefferson

State

Colorado

Latitude

39.7563

Longitude

-105.221

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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