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1266 Lafayette St 8 Unit Apartment Building $2,100,000 ($262,500/Unit) 6.31% Cap Rate Denver, CO 80218
INVESTMENT HIGHLIGHTS
- Attractive assumable debt at 3.34% interest-only and 8.44% cash-on-cash return
- Very well-maintained, recently updated 5,286 SF building with 8 units - fully custom contemporary renovation inside and out
- 3 garages and additional storage space; gated patio with fire pit and outdoor common areas
- Can be purchased with 1568 Vine Street (6 units) as a portfolio
- New roof with solar technology for energy efficiency; upgraded furnace and hot water heaters
- Prime location in the desirable Cheesman Park area
EXECUTIVE SUMMARY
Price Reduced - Bring all offers! Attractive assumable debt at 3.34% interest-only and 10%+ cash-on-cash return. Chic, modernized 8-unit multifamily investment property ideally located in the esteemed Cheesman Park submarket with strong rental income and assumable interest-only debt at 3.34%! The property glows with a fully custom, contemporary renovation inside and out, seamlessly blending old-world charm with modern allure. With a new roof featuring solar technology, 3 garages, storage, and updated furnace and hot water heaters, this 5,286 SF building with 8 units is a true turnkey investment. The addition of onsite laundry, a gated patio with a fire pit, and inviting outdoor common areas enhances its appeal for residents. Zoned G-MU-3, this property embodies the essence of sophisticated urban living, making it an enticing prospect for multifamily investors seeking a unique, updated, strong performing, apartment asset. Can be purchased with 1568 Vine Street (6 units) as a portfolio.
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $2,100,000 | Building Class | C |
| Price Per Unit | $262,500 | Lot Size | 0.11 AC |
| Sale Type | Investment | Building Size | 5,286 SF |
| Cap Rate | 6.31% | Average Occupancy | 100% |
| No. Units | 8 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1888 |
| Property Subtype | Apartment | Parking Ratio | 0.57/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | G-MU-5 | ||
| Price | $2,100,000 |
| Price Per Unit | $262,500 |
| Sale Type | Investment |
| Cap Rate | 6.31% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.11 AC |
| Building Size | 5,286 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1888 |
| Parking Ratio | 0.57/1,000 SF |
| Zoning | G-MU-5 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Disposal
- Heating
- Ceiling Fans
- Hardwood Floors
- Oven
SITE AMENITIES
- Fenced Lot
- Laundry Facilities
- Picnic Area
- Grill
- Gas Range
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 2 | - | 475 |
| 1+1 | 5 | - | 550 |
| 2+1 | 1 | - | 950 |
1 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Biker's Paradise (96)
PROPERTY TAXES
| Parcel Number | 5022-20-005 | Improvements Assessment | $85,460 |
| Land Assessment | $22,130 | Total Assessment | $107,590 |
PROPERTY TAXES
Parcel Number
5022-20-005
Land Assessment
$22,130
Improvements Assessment
$85,460
Total Assessment
$107,590
CONTACTS
-
Robert Lawson -
Jim Knowlton -
Jennifer King -
Luke Salazar -
Pinnacle Real Estate Advisors
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1266 Lafayette St
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