Value-Add Opportunity – 1888-1894 South Garfield Street is well-maintained with numerous recent improvements including new vinyl, double-pane windows along with a handful of new appliances and electrical updates. Furthermore, the units feature private front and rear entrances, large kitchens, and off-street parking. This combination of recent upgrades and excellent unit features lends itself to a light value-add upgrade program focused on the unit interiors.
Steps to Light Rail – 1888-1894 South Garfield Street offers residents easy access to light rail with the Colorado Station only a five-minute walk from the property. This excellent proximity to public transportation provides residents access to downtown Denver, the southeast business corridor, and Denver International Airport.
Low Vacancy Submarket – The property is located in a submarket with a persistent low vacancy. The vacancy rate in the fourth quarter of 2017 was 3% and the average vacancy rate across all of 2017 was also incredibly low at 3.1%. This persistent low vacancy environment will continue to drive long-term rent growth at the property.
Blocks to Abundant Retail – 1888-1894 South Garfield Street is located on a quiet side-street while still offering residents a multitude of nearby retail and restaurant options. Natural Grocers is only a few blocks from 1888-1894 South Garfield Street along with a number of restaurant offerings including Pei Wei, Five Guys, and Dave and Buster’s.
