421 Alameda AveDenver, CO 80209

Property Details for 421 Alameda Ave

Year built

1909

Construction

WOOD

Lot size

0.05 AC

Property size (Sq ft)

2,136 SF

Zone code

U-MS-2

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

05104-32-019-000

APU

510432019000

Description

This charming 1-story, 2-unit apartment building in Denver's desirable West Wash Park neighborhood presents a compelling investment opportunity. Built in 1909 and extensively renovated in 2021, the property boasts 2,136 square feet situated on a 0.05-acre lot. Currently operating at 100% occupancy, the duplex offers two separately metered units, each with its own legal description, allowing for future flexibility. The property includes two off-street parking spaces in the rear. The units are fully furnished and currently utilized as Airbnbs, demonstrating strong rental potential. The U-MS-2 zoning permits both residential and commercial uses, making this property ideal for a live/work situation, continued short-term rental operation, or even conversion to a small office space. A recent survey has already been completed, simplifying the process should a buyer choose to sell one unit and retain the other. The asking price is $875,000, representing a price per unit of $437,500. This stabilized investment property is located at 421 E Alameda Ave, Denver, CO 80209, in a rapidly developing area with convenient access to numerous amenities.

• CAP approach

  CAP return

  Valuation

  6%

  $568,361

  6.5%

  $524,640

  7%

  $487,166

• Comparable approach

  Method

  Valuation

  Relative Method

  $273,538

  Geo Method

  $273,538

• Alternative Use

  Use

  Valuation

  Residential

  $524,640

  Hospitality

  $480,568

  Educational

  $399,827

  Medical

  $413,578

  Retail

  $621,953

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7113

Longitude

-104.982

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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