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The Flats on 32nd 2860 W 32nd Ave 37 Unit Apartment Building $8,500,000 ($229,730/Unit) 5.54% Cap Rate Denver, CO 80211
Investment Highlights
- TURN-KEY 37 UNIT APARTMENT COMMUNITY IN THE HEART OF THE HIGHLANDS
- GATED COURTYARD WITH SHARED GREENSPACE, COMMUNAL PATIOS AND BIKE STORAGE
- UPDATED UNITS WITH STAINLESS STEEL APPLIANCES
- IDEAL UNIT MIX WITH STUDIOS, ONE AND TWO BEDROOM UNITS
- COVERED AND OFF-STREET PARKING AVAILABLE
- EXTENSIVE UPGRADES TO THE SYSTEMS OF THE BUILDINGS
Executive Summary
Flats on 32nd is a fully renovated 37-unit property in the Highlands. The property consists of 10 Studios, 5 Ones and 22 Two Bed units. The property has been meticulously maintained by current ownership and the building features, covered and gated parking along with newer windows and the majority of the plumbing has been replaced.
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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $8,500,000 | Building Class | B |
| Price Per Unit | $229,730 | Lot Size | 0.50 AC |
| Sale Type | Investment | Building Size | 24,069 SF |
| Cap Rate | 5.54% | Average Occupancy | 97% |
| No. Units | 37 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1961 |
| Property Subtype | Apartment | Parking Ratio | 1.32/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-3 | ||
| Price | $8,500,000 |
| Price Per Unit | $229,730 |
| Sale Type | Investment |
| Cap Rate | 5.54% |
| No. Units | 37 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.50 AC |
| Building Size | 24,069 SF |
| Average Occupancy | 97% |
| No. Stories | 3 |
| Year Built | 1961 |
| Parking Ratio | 1.32/1,000 SF |
| Zoning | R-3 |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Heating
- Kitchen
Site Amenities
- Laundry Facilities
- Gated
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 10 | - | 400 |
| 1+1 | 5 | - | 650 |
| 2+1 | 22 | - | 800 |
1 1
Moderately walkable
60/100
Exceptionally drivable
90/100
Good public transit
60/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2294-04-012 | Improvements Assessment | $116,180 |
| Land Assessment | $116,180 | Total Assessment | $642,210 |
Property Taxes
Parcel Number
2294-04-012
Land Assessment
$116,180
Improvements Assessment
$116,180
Total Assessment
$642,210
Contacts
-
Chris Knowlton -
Jim Knowlton -
Jennifer King -
Mark Knowlton -
Quentin Shore -
Pinnacle Real Estate Advisors
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The Flats on 32nd | 2860 W 32nd Ave
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