1041 Ogden StDenver, CO 80218

Property Details for 1041 Ogden St

Year built

1966

Construction

WOOD

Lot size

0.38 AC

Property size (Sq ft)

28,705 SF

Zone code

G-MU-3

Property type

High-rise multifamily apartments

APN

05022-43-027-000

APU

502243027000

Description

This exceptional 44-unit apartment building, known as The Mason, presents a compelling investment opportunity in Denver's vibrant Capitol Hill neighborhood. Located at 1041 Ogden St, Denver, CO 80218, this property boasts a prime location adjacent to Whole Foods' Ideal Market and within easy walking distance of Cheesman Park. Built in 1966, The Mason features 42 one-bedroom and 2 two-bedroom units, offering a mix of layouts to attract a diverse tenant base. The building includes 22 off-street parking spaces, a valuable amenity in this desirable area. Recent capital improvements have significantly enhanced the property, including new exterior paint, new windows, fully remodeled hallways and common areas, new flooring and stainless-steel appliances in most units, a Butterfly entry system, and an Amazon Hub package delivery station. Residents enjoy a community courtyard complete with a built-in grill and firepit. Units are equipped with air conditioning, dishwashers, disposals, hard surface flooring, and convenient access to laundry facilities on each floor. The property benefits from copper plumbing and modern electric service, ensuring low maintenance and predictable cash flow. A significant advantage is the assumable Freddie Mac loan of $6,050,000 at a fixed 3.12% interest rate until May 2031, offering positive leverage. The building sits on a 16,346 sq ft lot and comprises 23,538 sq ft of space. Rents are currently on the rise and poised for further growth with future cosmetic upgrades to kitchens and bathrooms. This is a rare opportunity to acquire a well-maintained, high-performing multifamily asset in a highly sought-after Denver location. The property is zoned G-MU-3.

• CAP approach

  CAP return

  Valuation

  6%

  $7,638,010

  6.5%

  $7,050,470

  7%

  $6,546,866

• Comparable approach

  Method

  Valuation

  Relative Method

  $3,675,991

  Geo Method

  $3,675,991

• Alternative Use

  Use

  Valuation

  Residential

  $7,050,470

  Hospitality

  $6,458,193

  Educational

  $5,373,141

  Medical

  $5,557,932

  Retail

  $8,358,220

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7327

Longitude

-104.976

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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