Las Perlas 1085 Pearl St 24 Unit Apartment Building $5,400,000 ($225,000/Unit) 4.91% Cap Rate Denver, CO 80203

Las Perlas is a classic, 24 unit apartment building located in the heart of Denver’s Capitol Hill neighborhood. The asset features an attractive mix of studios, one bedroom and two bedroom residences with large, functional floorplans that cater to urban renters; all the two bedroom units include private balconies that enhance tenant appeal and income potential. Professionally managed for 22 years, the property is delivered in turn key condition with recent capital investments including a new roof (2023) and a newly landscaped courtyard with outdoor seating.
Operationally, Las Perlas benefits from stable, efficiently run property management and 15 off street parking spaces that produce ancillary income in a high demand urban submarket. Upside remains for a new investor through selective unit refreshes and expanded amenity programming.
Positioned in a highly walkable, transit accessible submarket with proximity to downtown employment centers, cultural destinations and retail, Las Perlas represents a low friction, income producing investment with meaningful long term appreciation potential. The combination of location, unit mix, recent improvements and reliable cashflow make this asset an attractive option for investors seeking stable returns and operational efficiency in Capitol Hill.