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Cherry Manor Apartments 1475 Cherry St 17 Unit Apartment Building $3,400,000 ($200,000/Unit) 5.74% Cap Rate Denver, CO 80220
Investment Highlights
- Seller Carry Financing
- All Brick Exterior
- Highly Walkable near Colfax Amenities
- Strong Tennant Demand Driven by Location
- Built As
Executive Summary
Prime Investment Opportunity With Seller Financing Available: 17-Unit Apartment Complex in Denver with Value-Add
Potential Nestled just steps from Colfax Avenue, Denver's vibrant cultural and commercial corridor, this 17-unit apartment
complex presents an unparalleled opportunity for investors. This property boasts a blend of urban convenience and
untapped potential, making it an ideal choice for those seeking to maximize returns in one of Denver’s most dynamic
neighborhoods. Property Highlights: Unit Mix: A built-for property with a versatile mix of 1-bedroom and 2-bedroom
apartments, catering to a broad tenant base. Location: Situated within walking distance to Colfax Avenue, this property
offers easy access to restaurants, breweries, coffee shops, and boutique retail. The proximity to public transportation and
major thoroughfares ensures strong tenant demand. Upside Potential: While currently stabilized with consistent
occupancy, this property offers significant room for upside potential through strategic upgrades. On-Site Amenities:
Includes dedicated parking, a shared courtyard space, and on-site laundry facilities—features that are highly desirable for
tenants in this area. Value-Add Opportunities: Renovation Potential: Cosmetic updates to kitchens, bathrooms, and flooring
could drive up rental income. Energy Efficiency Upgrades: Implementing energy solutions like LED lighting, low-flow
fixtures, and solar panels could lower operating costs. Reconfiguration Options: Certain units offer the potential for
conversion or reconfiguration to maximize rental income. Neighborhood Features: Colfax Avenue is the heartbeat of
Denver, offering entertainment venues, art galleries, and nightlife. This property’s location also benefits from proximity to
several parks, schools, and employment hubs, ensuring a steady stream of qualified tenants. The area is experiencing
continued growth, with developments and revitalization efforts enhancing its long-term value
Potential Nestled just steps from Colfax Avenue, Denver's vibrant cultural and commercial corridor, this 17-unit apartment
complex presents an unparalleled opportunity for investors. This property boasts a blend of urban convenience and
untapped potential, making it an ideal choice for those seeking to maximize returns in one of Denver’s most dynamic
neighborhoods. Property Highlights: Unit Mix: A built-for property with a versatile mix of 1-bedroom and 2-bedroom
apartments, catering to a broad tenant base. Location: Situated within walking distance to Colfax Avenue, this property
offers easy access to restaurants, breweries, coffee shops, and boutique retail. The proximity to public transportation and
major thoroughfares ensures strong tenant demand. Upside Potential: While currently stabilized with consistent
occupancy, this property offers significant room for upside potential through strategic upgrades. On-Site Amenities:
Includes dedicated parking, a shared courtyard space, and on-site laundry facilities—features that are highly desirable for
tenants in this area. Value-Add Opportunities: Renovation Potential: Cosmetic updates to kitchens, bathrooms, and flooring
could drive up rental income. Energy Efficiency Upgrades: Implementing energy solutions like LED lighting, low-flow
fixtures, and solar panels could lower operating costs. Reconfiguration Options: Certain units offer the potential for
conversion or reconfiguration to maximize rental income. Neighborhood Features: Colfax Avenue is the heartbeat of
Denver, offering entertainment venues, art galleries, and nightlife. This property’s location also benefits from proximity to
several parks, schools, and employment hubs, ensuring a steady stream of qualified tenants. The area is experiencing
continued growth, with developments and revitalization efforts enhancing its long-term value
Financial Summary (Pro Forma - 2026) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $3,400,000 | Apartment Style | Low-Rise |
| Price Per Unit | $200,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.32 AC |
| Cap Rate | 5.74% | Building Size | 12,000 SF |
| No. Units | 17 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1946 |
| Property Subtype | Apartment | Parking Ratio | 0.5/1,000 SF |
| Zoning | R-2 | ||
| Price | $3,400,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.74% |
| No. Units | 17 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.32 AC |
| Building Size | 12,000 SF |
| No. Stories | 3 |
| Year Built | 1946 |
| Parking Ratio | 0.5/1,000 SF |
| Zoning | R-2 |
Amenities
- Smoke Detector
Unit Amenities
- Cable Ready
- Dishwasher
- Disposal
- Storage Space
- Heating
- Kitchen
- Hardwood Floors
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Handrails
- Window Coverings
- Large Bedrooms
Site Amenities
- Controlled Access
- Laundry Facilities
- Bicycle Storage
- Individual Locking Bedrooms
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | 650 - 900 |
| 2+1 | 11 | - | 850 - 1,150 |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Good public transit
60/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 6062-03-018 | Total Assessment | $281,410 (2025) |
| Land Assessment | $70,470 (2025) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $70,470 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
6062-03-018
Land Assessment
$70,470 (2025)
Improvements Assessment
$70,470 (2025)
Total Assessment
$281,410 (2025)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2026
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Presented by
Old Country Real Estate Group
Cherry Manor Apartments | 1475 Cherry St
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