4439 Nevada PlDenver, CO 80219

Property Details for 4439 Nevada Pl

Year built

1956

Construction

WOOD

Lot size

0.29 AC

Property size (Sq ft)

1,450 SF

Zone code

E-TU-C

Property type

Residential income properties

Property subtype

Garden apartment buildings

APN

05182-01-015-000

APU

518201015000

Description

This exceptional 9-unit apartment building, located at 4439 W Nevada Pl in Denver, Colorado, presents a compelling investment opportunity. Built in 1956, this well-maintained Class C property boasts 6,420 square feet situated on a 0.29-acre lot. The building features nine two-bedroom units, each with updated kitchens, bathrooms, floors, windows, and private back patios. Significant recent improvements include new furnaces, hot water heaters, roof, landscaping, laundry area, sewer line, and parking lot. The property includes nine parking spaces, individual tenant storage, and a coin-op laundry facility. Utilities are individually metered for gas and electric. Currently generating a 6.18% cap rate ($102,052 NOI), a pro-forma cap rate of 6.85% ($112,998 NOI) indicates substantial rental upside potential. The asking price is $1,650,000 ($183,333 per unit) and is priced below comparable sales. The property benefits from a 4.03% assumable loan fixed through January 1st, 2027, and is less than two miles from the Belmar Shopping Center. This is a turnkey investment ready for immediate income generation and future appreciation.

• CAP approach

  CAP return

  Valuation

  6%

  $385,825

  6.5%

  $356,146

  7%

  $330,707

• Comparable approach

  Method

  Valuation

  Relative Method

  $185,688

  Geo Method

  $185,688

• Alternative Use

  Use

  Valuation

  Residential

  $356,146

  Hospitality

  $326,228

  Educational

  $271,418

  Medical

  $280,752

  Retail

  $422,206

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7108

Longitude

-105.045

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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