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$3,000,000
Est. payment /mo
6,250 Sqft Lot
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5851358
HOA Y/N No
Year Built 1968
Annual Tax Amount $22,514
Tax Year 2024
Lot Size 6,250 Sqft
Acres 0.14
Property Sub-Type Multi Family
Source recolorado
Property Description
1445 Detroit is a 17-unit apartment building in Denver's coveted Congress Park neighborhood. The 4-story property features 16 covered parking spaces, which is a rare and valuable amenity in this popular location. The property has been under the same ownership for over twenty years and offers a clear value-add opportunity. The building's systems are in good working order, including 70-amp electrical service with new GE breaker panels, an upgraded elevator and a new roof installed last summer. The HVAC system has also been upgraded with separate boilers for building heat and domestic hot water. By renovating unit interiors, a new owner maximizes income potential. Similar apartments with full renovations are achieving $1,650/month in the neighborhood. Our analysis proposes a $40,000/unit renovation budget allowing for upgraded kitchens and in-unit laundry.
Location
State CO
County Denver
Zoning U-RH-3A
Interior
Fireplace N
Exterior
Total Parking Spaces 16
Garage No
Building
Sewer Public Sewer
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by NorthPeak Commercial Advisors, LLC