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1755 S Broadway 11 Unit Apartment Building $2,790,000 ($253,636/Unit) 7.01% Cap Rate Denver, CO 80210
EXECUTIVE SUMMARY
• 100% leased mixed use asset on South Broadway
• 11 apartment units and 2 retail units
• 9 of the 11 apartment units were renovated and finished Summer 2022. Brand new hot water heaters, flooring, electrical, plumbing, paint, kitchens and appliances, etc.
• High visibility property on South Broadway
• Rapidly developing area in the Denver MSA
• New storefront going to be installed in 2024
• Coin laundry recently added for additional income (around $200/mo not factored into NOI)
• 11 apartment units and 2 retail units
• 9 of the 11 apartment units were renovated and finished Summer 2022. Brand new hot water heaters, flooring, electrical, plumbing, paint, kitchens and appliances, etc.
• High visibility property on South Broadway
• Rapidly developing area in the Denver MSA
• New storefront going to be installed in 2024
• Coin laundry recently added for additional income (around $200/mo not factored into NOI)
FINANCIAL SUMMARY (ACTUAL - 2023) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$239,016
|
$33.23
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$239,016
|
$33.23
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$43,369
|
$6.03
|
| Net Operating Income |
$195,647
|
$27.20
|
FINANCIAL SUMMARY (ACTUAL - 2023)
| Gross Rental Income | |
|---|---|
| Annual | $239,016 |
| Annual Per SF | $33.23 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $239,016 |
| Annual Per SF | $33.23 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $43,369 |
| Annual Per SF | $6.03 |
| Net Operating Income | |
|---|---|
| Annual | $195,647 |
| Annual Per SF | $27.20 |
PROPERTY FACTS
| Price | $2,790,000 | Building Class | C |
| Price Per Unit | $253,636 | Lot Size | 0.22 AC |
| Sale Type | Investment | Building Size | 7,192 SF |
| Cap Rate | 7.01% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1961/2022 |
| Property Subtype | Apartment | Parking Ratio | 1.11/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | U-MS-5 - Applies primarily to collector or arterial street corridors, or may be embedded within a larger commercial shopping center or mixed use 1-5 stories | ||
| Price | $2,790,000 |
| Price Per Unit | $253,636 |
| Sale Type | Investment |
| Cap Rate | 7.01% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.22 AC |
| Building Size | 7,192 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1961/2022 |
| Parking Ratio | 1.11/1,000 SF |
| Zoning | U-MS-5 - Applies primarily to collector or arterial street corridors, or may be embedded within a larger commercial shopping center or mixed use 1-5 stories |
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Walk Score®
Very Walkable (84)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 5226-10-030 | Improvements Assessment | $191,450 (2024) |
| Land Assessment | $56,940 (2024) | Total Assessment | $248,390 (2024) |
PROPERTY TAXES
Parcel Number
5226-10-030
Land Assessment
$56,940 (2024)
Improvements Assessment
$191,450 (2024)
Total Assessment
$248,390 (2024)
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1755 S Broadway
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