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3650 S Lincoln St 11 Unit Apartment Building $1,500,000 ($136,364/Unit) 5.35% Cap Rate Englewood, CO 80113
Investment Highlights
- (11) 1 BR/1BA UNITS
- PRIVATE SECOND STORY PATIO TENANTS USE AS BUILDING AMENITY
- ON SITE LAUNDRY & STORAGE LOCKERS AVAILABLE
- VALUE-ADD OPPORTUNITY LISTED SIGNIFICANTLY BELOW RECENT SOLD COMPS
- LOCATED JUST BLOCKS AWAY FROM SWEDISH MEDICAL CENTER, CRAIG HOSPITAL, AND NUMEROUS RESTAURANTS AND RETAIL STORES
- BOILERS REPLACED IN 2019
Executive Summary
The South Lincoln Apartments, located at 3650 S. Lincoln Street in Englewood, Colorado, present a compelling investment opportunity consisting of 11
well-maintained apartment units in a highly desirable infill location within the South Broadway corridor. Positioned just blocks from the major employment
anchors of Swedish Medical Center and Craig Hospital, the property benefits from consistent renter demand supported by healthcare employment, nearby
amenities, and limited new multifamily supply in the immediate area.
South Lincoln Apartments offers investors a rare opportunity to acquire a value-add asset at a basis well below recent comparable sales in the submarket,
creating immediate upside potential. Additional value can be achieved through operational efficiencies and a targeted unit renovation program, providing
a clear path to increased rental income, improved operating margins, and overall yield enhancement. Supported by strong location fundamentals and
favorable submarket dynamics, the property presents an opportunity to drive both near-term cash flow growth and long-term appreciation.
well-maintained apartment units in a highly desirable infill location within the South Broadway corridor. Positioned just blocks from the major employment
anchors of Swedish Medical Center and Craig Hospital, the property benefits from consistent renter demand supported by healthcare employment, nearby
amenities, and limited new multifamily supply in the immediate area.
South Lincoln Apartments offers investors a rare opportunity to acquire a value-add asset at a basis well below recent comparable sales in the submarket,
creating immediate upside potential. Additional value can be achieved through operational efficiencies and a targeted unit renovation program, providing
a clear path to increased rental income, improved operating margins, and overall yield enhancement. Supported by strong location fundamentals and
favorable submarket dynamics, the property presents an opportunity to drive both near-term cash flow growth and long-term appreciation.
Financial Summary (Pro Forma - 2026) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$155,100
|
$19.44
|
| Other Income |
$10,223
|
$1.28
|
| Vacancy Loss |
$7,755
|
$0.97
|
| Effective Gross Income |
$157,568
|
$19.75
|
| Taxes |
$7,996
|
$1.00
|
| Operating Expenses |
$48,419
|
$6.07
|
| Total Expenses |
$56,415
|
$7.07
|
| Net Operating Income |
$101,153
|
$12.68
|
Financial Summary (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $155,100 |
| Annual Per SF | $19.44 |
| Other Income | |
|---|---|
| Annual | $10,223 |
| Annual Per SF | $1.28 |
| Vacancy Loss | |
|---|---|
| Annual | $7,755 |
| Annual Per SF | $0.97 |
| Effective Gross Income | |
|---|---|
| Annual | $157,568 |
| Annual Per SF | $19.75 |
| Taxes | |
|---|---|
| Annual | $7,996 |
| Annual Per SF | $1.00 |
| Operating Expenses | |
|---|---|
| Annual | $48,419 |
| Annual Per SF | $6.07 |
| Total Expenses | |
|---|---|
| Annual | $56,415 |
| Annual Per SF | $7.07 |
| Net Operating Income | |
|---|---|
| Annual | $101,153 |
| Annual Per SF | $12.68 |
Property Facts
| Price | $1,500,000 | Property Subtype | Apartment |
| Price Per Unit | $136,364 | Lot Size | 0.19 AC |
| Sale Type | Investment | Building Size | 7,980 SF |
| Cap Rate | 5.35% | No. Stories | 3 |
| No. Units | 11 | Year Built | 1960 |
| Property Type | Multifamily | Parking Ratio | 1.63/1,000 SF |
| Price | $1,500,000 |
| Price Per Unit | $136,364 |
| Sale Type | Investment |
| Cap Rate | 5.35% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Lot Size | 0.19 AC |
| Building Size | 7,980 SF |
| No. Stories | 3 |
| Year Built | 1960 |
| Parking Ratio | 1.63/1,000 SF |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 11 | - | - |
1 1
Moderately walkable
60/100
Moderately drivable
60/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2077-03-1-09-005 | Total Assessment | $110,000 (2025) |
| Land Assessment | $0 (2025) | Annual Taxes | $7,996 ($1.00/SF) |
| Improvements Assessment | $0 (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
2077-03-1-09-005
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$110,000 (2025)
Annual Taxes
$7,996 ($1.00/SF)
Tax Year
2026
(303) 962-9555
x150
Contacts
-
Quentin Shore -
Jim Knowlton -
Chris Knowlton -
Jennifer King -
Pinnacle Real Estate Advisors
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3650 S Lincoln St
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