1159 Corona StDenver, CO 80218

Property Details for 1159 Corona St

Year built

1900

Lot size

0.14 AC

Property size (Sq ft)

3,724 SF

Zone code

G-MU-3

Property type

Apartment buildings

APN

05022-31-017-000

APU

502231017000

Description

This fully renovated, seven-unit apartment building in Denver's vibrant Capitol Hill neighborhood presents a compelling investment opportunity. Boasting 4,075 square feet, the property features a desirable mix of studio, one-bedroom, and two-bedroom units, each benefiting from recent plumbing replacements and updated fixtures. Significant capital improvements exceeding $350,000 have been completed, including a new roof (2019), new windows, a brand-new boiler control system, upgraded landscaping, and the installation of on-site laundry facilities (2020) and a security camera system (5 cameras). The building's prime location offers easy access to Cheesman Park, Downtown Denver's employment hub, and a wealth of nearby retail options, including Ideal Market, Potager, and King Soopers. With a 92 Walk Score ("Walker's Paradise"), this property attracts high-quality tenants. Currently generating a Pro-Forma NOI of $112,084 and a Pro-Forma Cap Rate of 5.60%, the below-market rents offer significant potential for increased cash flow through future rent adjustments. The asking price is $2,000,000, representing a price per unit of $285,714.29 and a price per square foot of $490.80. Built in 1900 and extensively renovated in 2023, this property is a turnkey investment ready for immediate income generation and long-term appreciation. The ample parking ratio for central Denver further enhances its appeal.

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7348

Longitude

-104.974

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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