440 13Th AveDenver, CO 80203

Property Details for 440 13Th Ave

Year built

1923

Construction

WOOD

Lot size

0.38 AC

Property size (Sq ft)

19,011 SF

Zone code

G-MS-5

Property type

Garden apartment buildings

APN

05031-14-050-000

APU

503114050000

Description

This exceptional 31-unit apartment building, situated on a 0.36-acre lot in Denver's coveted Capitol Hill neighborhood at 440 E 13th Ave, presents a compelling investment opportunity. Built in 1923, the property boasts 17,255 square feet of net rentable space and offers a desirable mix of studio, one-bedroom, and two-bedroom units, appealing to a diverse renter base. The building includes 15 valuable off-street parking spaces—a rare amenity in this location. Residents enjoy a large, well-maintained courtyard. The property's strong performance is reflected in its current NOI of $284,715 and a pro-forma NOI of $387,163, translating to a current cap rate of 4.35% and a pro-forma cap rate of 5.91%. The asking price is $6,550,000, representing a price per unit of $211,290.32 and a price per square foot of $382.75. Its prime location offers convenient access to numerous popular restaurants, cafes (including Sub Culture, Call Your Mother Deli, and Pablo's Coffee), and major employers. The building features modern upgrades including new vinyl flooring, a high-efficiency boiler, and updated electrical systems, blending historic charm with contemporary conveniences. This fully occupied asset offers investors a stable, high-demand property in a thriving Denver submarket. The property's strong financials and desirable location make it an attractive investment prospect with significant potential for future growth.

• CAP approach

  CAP return

  Valuation

  6%

  $6,179,950

  6.5%

  $5,704,570

  7%

  $5,297,100

• Comparable approach

  Method

  Valuation

  Relative Method

  $5,065,590

  Geo Method

  $1,837,710

• Alternative Use

  Use

  Valuation

  Industrial / Distribution

  $9,167,360

  Retail / Commercial

  $4,703,790

  Mixed-Use / Specialty

  $4,689,230

  Hospitality / Lodging

  $3,443,220

  Office

  $4,663,680

  Institutional / Educational

  $4,875,700

  Multifamily

  $6,829,480

  Automotive / Energy

  $4,179,170

  Parking / Income-Based Land

  $1,439,990

  Restaurant / Food Service

  $2,443,630

  Healthcare / Senior Housing

  $4,806,450

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7366

Longitude

-104.981

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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