1234 York StDenver, CO 80206

Property Details for 1234 York St

Year built

1888

Lot size

0.14 AC

Property size (Sq ft)

2,606 SF

Zone code

G-MU-3

Property type

Residential income properties

Property subtype

Other apartment buildings

APN

05012-29-028-000

APU

501229028000

Description

This exceptional 7-unit apartment building, located at 1234 York Street in Denver, Colorado, presents a compelling investment opportunity. Built in 1888 and extensively renovated in 2019, this 3-story, 3,212 square foot Victorian-era building boasts a charming aesthetic combined with modern updates. The property features seven units, each benefiting from recent improvements. Significant upgrades include a new roof (2019), a complete sewer replacement (2019), a new hot water heater and furnace (2016), and a refreshed concrete sidewalk and front walkway (2021). The building sits on a 6,250 square foot lot and includes six on-site parking spaces and a private fenced patio. Currently generating a NOI of $71,638, with a pro-forma NOI of $85,059, this property offers a 5.12% cap rate and a pro-forma cap rate of 6.08%. The asking price is $1,400,000, translating to $200,000 per unit and $435.87 per square foot. Situated in the desirable Cheesman Park neighborhood of Central Denver, this property benefits from a walk score of 89, providing easy access to Cheesman Park, Congress Park, and the Denver Botanical Gardens. The G-MU-3 zoning allows for flexible usage options. This turn-key property offers an easy path to a high return on investment, making it an ideal addition to any portfolio. The building's historic character, combined with its modern amenities and prime location, ensures strong rental demand and long-term value.

• CAP approach

  CAP return

  Valuation

  6%

  $693,421

  6.5%

  $640,081

  7%

  $594,361

• Comparable approach

  Method

  Valuation

  Relative Method

  $333,727

  Geo Method

  $333,727

• Alternative Use

  Use

  Valuation

  Residential

  $640,081

  Hospitality

  $586,311

  Educational

  $487,804

  Medical

  $504,580

  Retail

  $758,806

Location Insight

City

Denver

County

Denver

State

Colorado

Latitude

39.7358

Longitude

-104.959

CBSA code

19740

CBSA name

DENVER-AURORA, CO METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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