Five of the 30 units at 1225 Colorado Boulevard are fully renovated and include hardwood floors, new cabinets and granite countertops, tile backsplashes, stainless steel appliances including dishwashers, disposals, ceiling fans, updated tiling in the kitchens and bathrooms, and more. In addition, all above-grade units have original hardwood floors, arched doorways and coved ceilings.
The property has a considerable value-add component. 25 units can be renovated to achieve substantially higher rents and additional parking spaces or carports could be added where the pool was, or repour the pool for a rare amenity in the neighborhood. In addition, there is a large office that could be easily converted to a 31st unit.
1225 Colorado Boulevard has had recent capital improvements including two newer boilers and new windows.
1225 Colorado Boulevard has a laundry room on-site and large backyard. The property also has an impressive 30 off-street parking spaces for additional income that is currently not being charged.
The property is one block from Continuum and CIM’s new 9+CO mixed-use development. This 26-acre redevelopment is the largest infill redevelopment in Denver and will contain 2 parks with 4 acres of open space, 200,000 square feet of creative office space, 300,000 square feet of retail space and 1,200 residential units.
The property is in one of the most affluent areas of Denver. More than 70.6% of the population within a mile has a bachelor’s degree or higher and the average household income is $121,203. An impressive 41.4% of households earn more than $100,000 per year.
