Corona Arms 1328 Corona St 10 Unit Apartment Building $1,650,000 ($165,000/Unit) 5.91% Cap Rate Denver, CO 80218

Corona Arms is a charming 10-unit boutique apartment building located in Denver’s highly sought-after Capitol Hill neighborhood—just a few blocks from Cheesman Park and minutes from downtown. This prime location consistently attracts active urban renters drawn to the walkability, green space, and vibrant city lifestyle that define central Denver.
The property features a well-balanced mix of studio and one-bedroom apartments, appealing to a broad tenant base. Residents enjoy desirable amenities including a sun deck, convenient on-site laundry, and off-street parking—features that enhance both livability and tenant retention. The building’s classic architecture and landscaped curb appeal contribute to its strong street presence and enduring charm.
Significant capital improvements have been completed, positioning the asset as a true turnkey investment. Electrical systems have been upgraded with new breakers, and new gas lines have been run to each unit. Major system updates include a new steam boiler installed in 2021 and a durable 60-mil TPO roof completed in 2022, minimizing near-term capital expenditure.
With its combination of location, character, and recent upgrades, The Corona Arms presents a compelling opportunity to acquire a stabilized asset in one of Denver’s most desirable rental markets.