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Browse More Listings in Multifamily For Sale, Denver, CO or Colorado

Multifamily Property For Sale

Town Club Apartments

1321 Detroit Street, Denver, CO 80206

Price:
$1,000,000
No. Units:
17
Building Size:
8,988 SF
Price/Unit:
$58,823.53
Property Type:
Multifamily
Property Sub-type:
Garden/Low-Rise
Property Use Type:
Investment
Cap Rate:
9.15%
Gross Rent Multiplier:
7.93
Occupancy:
100%
No. Stories:
3
Year Built:
1965
Lot Size:
6,250 SF
Tax ID / APN #:
05012-16-016
Find Out More...

Last Verified 10/8/2009 Listing ID 16233196

Highlights

Three Year Old Roof
New Building Owned Laundry Equipment
Low Maintenance

True 9.15% Cap Rate
Tenant Paid Gas and Electric
Four Tenant-Leased Parking Spaces

Description

The Town Club Apartment building is a solid brick, three-story walk-up. The property is located on a quiet residential block in the desireable Congress Park neighborhood. Many of the units have been upgraded with new tile tub surrounds, appliances, and hardwood floors. Enjoy 100% of the laundry income from the new Maytag coin-operated laundry equipment.

Town Club Apartments are located minutes from Dowtown Denver in the quiet residential neighborhood of Congress Park. The property is conveniently located to central Denver's bus lines, employment centers, shopping, entertainment, and parks.

Financial Summary

Unit Mix Information

Debt & Equity Information

Proforma
Year
2009
Scheduled Gross Income
$126,096
Effective Gross Income
$120,526
Operating Expenses
$29,054
Net Operating Income
$91,472
Pre-Tax Cash Flow
$91,472

Description	No. Units	Avg. Mo. Rent	Sq. Ft.
One Bedroom/One Bathroom	16	$538	475
Two Bedroom/One Bathroom	1	$675	650

Map of 1321 Detroit Street, Denver, CO 80206 (Denver County)

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Presented by

SHOCKCOR, INC.

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Contact Listing Broker

Thomas Shockcor (720) 937-4403

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Created 5/11/2009

Additional Information for 1321 Detroit Street, Denver, CO 80206

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 1 Historic Listing
Sales Comparables Available - 1 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

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Multifamily Property For Sale - Town Club Apartments

1321 Detroit Street, Denver, CO, 80206