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1224-1232 E 13th Ave 18 Unit Apartment Building $4,850,000 ($269,444/Unit) 4.94% Cap Rate Denver, CO 80218
INVESTMENT HIGHLIGHTS
- 18 Newly Renovated 1BR/1BA Units
- 18 Reserved Parking Spaces on the Property
- New Stainless Steel Appliances, Exposed Brick, Coinless On-Site Laundry, Secured Access
- Assumable Financing at 3.23%
- Located Block from Cheesman Park, Iconic Music Venues, and Numerous Bars/Restaurants
EXECUTIVE SUMMARY
Turnkey 18-Unit in the Heart of Cheesman Park with Assumable Financing at 3.23%
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$322,200
|
$31.57
|
| Other Income |
$56,107
|
$5.50
|
| Vacancy Loss |
$9,666
|
$0.95
|
| Effective Gross Income |
$368,641
|
$36.12
|
| Taxes |
$24,253
|
$2.38
|
| Operating Expenses |
$75,735
|
$7.42
|
| Total Expenses |
$99,988
|
$9.80
|
| Net Operating Income |
$268,653
|
$26.32
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $322,200 |
| Annual Per SF | $31.57 |
| Other Income | |
|---|---|
| Annual | $56,107 |
| Annual Per SF | $5.50 |
| Vacancy Loss | |
|---|---|
| Annual | $9,666 |
| Annual Per SF | $0.95 |
| Effective Gross Income | |
|---|---|
| Annual | $368,641 |
| Annual Per SF | $36.12 |
| Taxes | |
|---|---|
| Annual | $24,253 |
| Annual Per SF | $2.38 |
| Operating Expenses | |
|---|---|
| Annual | $75,735 |
| Annual Per SF | $7.42 |
| Total Expenses | |
|---|---|
| Annual | $99,988 |
| Annual Per SF | $9.80 |
| Net Operating Income | |
|---|---|
| Annual | $268,653 |
| Annual Per SF | $26.32 |
PROPERTY FACTS
| Price | $4,850,000 | Building Class | C |
| Price Per Unit | $269,444 | Lot Size | 0.27 AC |
| Sale Type | Investment | Building Size | 10,207 SF |
| Cap Rate | 4.94% | Average Occupancy | 83% |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1906 |
| Property Subtype | Apartment | Parking Ratio | 1.76/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R3, Denver | ||
| Price | $4,850,000 |
| Price Per Unit | $269,444 |
| Sale Type | Investment |
| Cap Rate | 4.94% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.27 AC |
| Building Size | 10,207 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built | 1906 |
| Parking Ratio | 1.76/1,000 SF |
| Zoning | R3, Denver |
AMENITIES
UNIT AMENITIES
- Heating
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
SITE AMENITIES
- 24 Hour Access
- Laundry Facilities
- Security System
- Tenant Controlled HVAC
- Pet Play Area
- Walk-Up
- Smoke Detector
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 18 | - | 415 - 630 |
1 1
Walk Score®
Walker's Paradise (92)
Bike Score®
Biker's Paradise (97)
PROPERTY TAXES
| Parcel Number | 5022-22-152 | Total Assessment | $278,380 (2024) |
| Land Assessment | $50,590 (2024) | Annual Taxes | $24,253 ($2.38/SF) |
| Improvements Assessment | $227,790 (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
5022-22-152
Land Assessment
$50,590 (2024)
Improvements Assessment
$227,790 (2024)
Total Assessment
$278,380 (2024)
Annual Taxes
$24,253 ($2.38/SF)
Tax Year
2025
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1224-1232 E 13th Ave
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