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2397 S Locust St
Denver, CO 80222
Multifamily Property For Sale
·
4 Units
Investment Highlights
- Fully renovated 4-unit asset with modern finishes, minimizing near-term capex and delivering stable, low-maintenance cash flow from day one.
- Rent vs. own gap supports durable tenant demand, reinforcing occupancy stability and consistent income performance.
- Central infill location between Downtown Denver and DTC, supporting consistent occupancy and rent growth driven by commuter convenience.
Executive Summary
2397 S Locust St is a fully renovated, turnkey 4-unit investment in the supply-constrained Virginia Village submarket, offering durable cash flow with minimal near-term capex. The property features modernized interiors that compete with newer products and support strong tenant demand, while in-place rents provide continued upside through organic lease roll without heavy repositioning. Centrally located between Downtown Denver and the Denver Tech Center, the asset benefits from strong commuter appeal, affluent demographics, and a widening rent-versus-own gap that reinforces long-term renter demand. Scarce small-bay competition, combined with optional operational upside through expense optimization, positions the property for stable occupancy, NOI growth, and long-term appreciation.
Property Facts
| Price Per Unit | $231,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 6.19% | Building Size | 3,234 SF |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1966 |
| Property Subtype | Apartment | Parking Ratio | 1.86/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R2A, Denver | ||
| Price Per Unit | $231,250 |
| Sale Type | Investment |
| Cap Rate | 6.19% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 3,234 SF |
| No. Stories | 2 |
| Year Built | 1966 |
| Parking Ratio | 1.86/1,000 SF |
| Zoning | R2A, Denver |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 4 | - | 800 |
Property Taxes
| Parcel Number | 6293-07-042 | Improvements Assessment | $14,960 |
| Land Assessment | $14,960 | Total Assessment | $63,480 |
Property Taxes
Parcel Number
6293-07-042
Land Assessment
$14,960
Improvements Assessment
$14,960
Total Assessment
$63,480
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