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1860 S Grove St 18 Unit Apartment Building $2,100,000 ($116,667/Unit) 6.16% Cap Rate Denver, CO 80219
Investment Highlights
- Priced competitively compared to recent sales and active listings.
- Opportunity to push rents to market through renewals and new leases.
- Strong tenant base with historically consistent demand for rental housing in the surrounding area.
- Within Denver's adopted Southwest Area Plan, which prioritizes long-term investment in housing, infrastructure, mobility, parks, community amenities.
- Diverse unit mix of spacious one- and two-bedroom units.
Executive Summary
1860 S Grove St is an 18-unit, three-story brick multifamily asset located in Denver's Mar Lee neighborhood within Southwest Denver. Built in 1961, the property is positioned near Federal Boulevard, Sheridan Boulevard, and major west-side corridors, with convenient access to neighborhood retail, grocery, dining, transit, and employment drivers. The asset also falls within Denver's adopted Southwest Area Plan, which prioritizes long-term investment in housing, infrastructure, mobility, parks, and community amenities. The units feature new LVP flooring and updated cabinetry, countertops, kitchen appliances, and bathroom finishes, appealing to a historically strong workforce housing tenant base. In-place rents remain below market, which, combined with the near-term lease-up of currently available units, creates a defined path to grow income through renewals and new leases. 1860 S Grove offers investors a clean Denver infill basis play with current income and a credible path to improved yield.
Financial Summary (Actual - 2025) 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 (Actual - 2025) 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 | $2,100,000 | Apartment Style | Low-Rise |
| Price Per Unit | $116,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 6.16% | Building Size | 12,253 SF |
| No. Units | 18 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | ||
| Zoning | S-MU-3 | ||
| Price | $2,100,000 |
| Price Per Unit | $116,667 |
| Sale Type | Investment |
| Cap Rate | 6.16% |
| No. Units | 18 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.29 AC |
| Building Size | 12,253 SF |
| No. Stories | 2 |
| Year Built | 1961 |
| Zoning | S-MU-3 |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Range
- Vinyl Flooring
Site Amenities
- 24 Hour Access
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 12 | - | 700 |
| 2+1 | 6 | - | 800 |
1 1
Fairly walkable
50/100
Moderately drivable
70/100
Some public transit
40/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 5203-06-058 | Total Assessment | $220,930 |
| Land Assessment | $10,550 | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $10,550 | Tax Year | 2025 |
Property Taxes
Parcel Number
5203-06-058
Land Assessment
$10,550
Improvements Assessment
$10,550
Total Assessment
$220,930
Annual Taxes
($1) ($0.00/SF)
Tax Year
2025
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1860 S Grove St
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