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Development -Up to 113 units 1899 Acoma St 68 Unit Apartment Building $3,200,000 ($47,059/Unit) Denver, CO 80223
INVESTMENT HIGHLIGHTS
- Most governmental licenses, permits and approvals completed
- Located one block off of Broadway and three blocks from Evans Light Rail Station
- Denver Multifamily Development is in the recovery phase of the market cycle
- Start construction in 2025 and to stabilize in as little as 18 months
- Completed: Architectural drawings, SDP, Specs Manual, Surveys, MEP, Structural, Civil, Environmental and Landscaping plans
EXECUTIVE SUMMARY
Sperry, Rocky Mountain Commercial is pleased to present SoBo 42. A fully entitled and planned development for 5-stories, 42- unit multifamily site, with new Architectural plans proposing - 68 units at 5 stories, or 113 Units at 8 stories.
| Located just south of downtown and near the Evans Light rail station and one block off of Broadway and is on a quieter street, yet walking distance to entertainment and dining.
| Most governmental licenses and approvals, allow a buyer the opportunity to start construction in 2025 and to stabilize in as little as 18 months.
| Fully Entitled Site - Exceptional opportunity to acquire Denver land that comes with SDP’s, approvals, permits, and everything needed to start construction immediately.
| 100% Market Rate Units - This project is grandfathered in from the Denver Affordable housing ordinances with the current permits to build 42 units. Adding additional units as proposed would require affordable units.
| Light Rail in Walking Distance – Quick Access to downtown Denver and the entire metroplex means increased potential for investors.
| Significant decrease in time to Stabilization – With all planning and approvals done, as well as soft costs paid, this project will save 18-24 months in a buyers development process.
| Located just south of downtown and near the Evans Light rail station and one block off of Broadway and is on a quieter street, yet walking distance to entertainment and dining.
| Most governmental licenses and approvals, allow a buyer the opportunity to start construction in 2025 and to stabilize in as little as 18 months.
| Fully Entitled Site - Exceptional opportunity to acquire Denver land that comes with SDP’s, approvals, permits, and everything needed to start construction immediately.
| 100% Market Rate Units - This project is grandfathered in from the Denver Affordable housing ordinances with the current permits to build 42 units. Adding additional units as proposed would require affordable units.
| Light Rail in Walking Distance – Quick Access to downtown Denver and the entire metroplex means increased potential for investors.
| Significant decrease in time to Stabilization – With all planning and approvals done, as well as soft costs paid, this project will save 18-24 months in a buyers development process.
PROPERTY FACTS
| Price | $3,200,000 | Building Class | B |
| Price Per Unit | $47,059 | Lot Size | 0.29 AC |
| Sale Type | Investment | Construction Status | Proposed |
| Sale Condition | Build to Suit | Building Size | 55,438 SF |
| No. Units | 68 | No. Stories | 5 |
| Property Type | Multifamily | Year Built | 2026 |
| Property Subtype | Apartment | Parking Ratio | 0.69/1,000 SF |
| Apartment Style | Mid-Rise |
| Price | $3,200,000 |
| Price Per Unit | $47,059 |
| Sale Type | Investment |
| Sale Condition | Build to Suit |
| No. Units | 68 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Construction Status | Proposed |
| Building Size | 55,438 SF |
| No. Stories | 5 |
| Year Built | 2026 |
| Parking Ratio | 0.69/1,000 SF |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 60 | - | - |
| 1+1 | 4 | - | - |
| 2+1 | 4 | - | - |
1 1
Walk Score®
Very Walkable (80)
Bike Score®
Very Bikeable (70)
PROPERTY TAXES
| Parcel Number | 5226-16-032 | Improvements Assessment | $5,360 |
| Land Assessment | $346,490 | Total Assessment | $351,850 |
PROPERTY TAXES
Parcel Number
5226-16-032
Land Assessment
$346,490
Improvements Assessment
$5,360
Total Assessment
$351,850
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Development -Up to 113 units | 1899 Acoma St
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