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1190 S Sheridan Blvd 12 Unit Apartment Building $1,625,000 ($135,417/Unit) 6.53% Cap Rate Denver, CO 80232
Investment Highlights
- $125k/unit for side-by-side 1bed/1bath units
- Individual gas & electric meters for tenants to pay directly
- Billboard income of $15,000/year acting as a “13th unit” and stable income
- Leased laundry room on site
Executive Summary
1190 S Sheridan Boulevard is a 12-unit masonry multifamily building located in the Bear Valley neighborhood of southwest Denver. Built in 1954 and zoned E-MX-3, the property offers an all 1 bed/1 bath unit mix well-suited to the area’s stable, long-term renter base. All units are in a side by side layout which is preferred by tenants and investors alike. Positioned along the Sheridan Boulevard corridor, residents enjoy convenient access to South Federal Boulevard’s retail and dining, Bear Creek Greenbelt, and quick connectivity to US-285 and the broader Denver metro.
The property presents a compelling value-add opportunity underpinned by strong in-place fundamentals. Current rents sit modestly below market, providing a buyer with natural upside through lease-up turnover without the need for significant capital investment. A rare billboard lease generating $15,000 annually provides a durable, passive income stream that meaningfully enhances returns. Tenants pay gas and electric directly to the utility company via separate meters.
The property presents a compelling value-add opportunity underpinned by strong in-place fundamentals. Current rents sit modestly below market, providing a buyer with natural upside through lease-up turnover without the need for significant capital investment. A rare billboard lease generating $15,000 annually provides a durable, passive income stream that meaningfully enhances returns. Tenants pay gas and electric directly to the utility company via separate meters.
Property Facts
| Price | $1,625,000 | Apartment Style | Low-Rise |
| Price Per Unit | $135,417 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 6.53% | Building Size | 4,800 SF |
| No. Units | 12 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1954 |
| Property Subtype | Apartment | Parking Ratio | 2.5/1,000 SF |
| Zoning | E-MX-3 | ||
| Price | $1,625,000 |
| Price Per Unit | $135,417 |
| Sale Type | Investment |
| Cap Rate | 6.53% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 4,800 SF |
| No. Stories | 1 |
| Year Built | 1954 |
| Parking Ratio | 2.5/1,000 SF |
| Zoning | E-MX-3 |
Amenities
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 400 |
1 1
Fairly walkable
50/100
Very drivable
80/100
Some public transit
40/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5192-08-039 | Improvements Assessment | $19,800 |
| Land Assessment | $19,800 | Total Assessment | $97,620 |
Property Taxes
Parcel Number
5192-08-039
Land Assessment
$19,800
Improvements Assessment
$19,800
Total Assessment
$97,620
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1190 S Sheridan Blvd
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