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The Elmira Apartments 2846 Federal Blvd 25 Unit Apartment Building $3,900,000 ($156,000/Unit) 6.03% Cap Rate Denver, CO 80211
Investment Highlights
- Beautifully Renovated, Turn-Key Asset Including New: Electrical, Plumbing, HVAC, Kitchens, Bathrooms, Windows, Interior Hallways, Paint & Landscaping
- Excellent Neighborhood Demographics: $124,672 Average Household Income within a Two Mile Radius
- Walk Score: 92 - Short Distance Public Transportation, Parks, Shopping, Restaurants & Entertainment
- Superb Location in the Highlands Directly Across from Viking Park
- Rental Upside: Proforma Rents Already Being Achieved or Surpassed in 60% of the Units
- One Mile to Downtown Denver
Executive Summary
PRICE REDUCED! Renovated 25-Unit Apt Bldg in Highlands; Just $156k/Unit!
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$334,500
|
$32.95
|
| Other Income |
$43,653
|
$4.30
|
| Vacancy Loss |
$18,908
|
$1.86
|
| Effective Gross Income |
$359,245
|
$35.39
|
| Taxes |
$27,983
|
$2.76
|
| Operating Expenses |
$95,905
|
$9.45
|
| Total Expenses |
$123,888
|
$12.20
|
| Net Operating Income |
$235,357
|
$23.18
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $334,500 |
| Annual Per SF | $32.95 |
| Other Income | |
|---|---|
| Annual | $43,653 |
| Annual Per SF | $4.30 |
| Vacancy Loss | |
|---|---|
| Annual | $18,908 |
| Annual Per SF | $1.86 |
| Effective Gross Income | |
|---|---|
| Annual | $359,245 |
| Annual Per SF | $35.39 |
| Taxes | |
|---|---|
| Annual | $27,983 |
| Annual Per SF | $2.76 |
| Operating Expenses | |
|---|---|
| Annual | $95,905 |
| Annual Per SF | $9.45 |
| Total Expenses | |
|---|---|
| Annual | $123,888 |
| Annual Per SF | $12.20 |
| Net Operating Income | |
|---|---|
| Annual | $235,357 |
| Annual Per SF | $23.18 |
Property Facts
| Price | $3,900,000 | Apartment Style | Low-Rise |
| Price Per Unit | $156,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.03% | Building Size | 10,152 SF |
| No. Units | 25 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1924/2022 |
| Property Subtype | Apartment | ||
| Zoning | G-MU-5 | ||
| Price | $3,900,000 |
| Price Per Unit | $156,000 |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 10,152 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1924/2022 |
| Zoning | G-MU-5 |
Amenities
Unit Amenities
- Cable Ready
- Fireplace
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 25 | $1,145 | 350 |
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Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 2294-20-001 | Total Assessment | $379,460 |
| Land Assessment | $47,810 | Annual Taxes | $27,983 ($2.76/SF) |
| Improvements Assessment | $47,810 | Tax Year | 2025 |
Property Taxes
Parcel Number
2294-20-001
Land Assessment
$47,810
Improvements Assessment
$47,810
Total Assessment
$379,460
Annual Taxes
$27,983 ($2.76/SF)
Tax Year
2025
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The Elmira Apartments | 2846 Federal Blvd
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