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422 E Tennessee 422 E Tennessee Ave 3 Unit Apartment Building $950,000 ($316,667/Unit) 5.04% Cap Rate Denver, CO 80209
Investment Highlights
- Located in a highly walkable Wash Park–adjacent neighborhood with strong long-term rental demand.
- Low-density asset offers simpler management compared to larger multifamily properties.
- Efficient unit layouts maximize livable space and support consistent tenant retention.
Executive Summary
422 E Tennessee Ave is a charming three-unit property that combines small-scale appeal with high-quality interiors. While the building is modest in size, each apartment has been thoughtfully updated and is exceptionally well-finished, offering modern layouts, attractive finishes, and a comfortable living experience. The property stands out for its strong unit quality and turnkey appeal, making it an excellent option for investors seeking a well-maintained triplex with desirable interiors.
Financial Summary (Actual - 2025) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$61,080
|
$33.18
|
| Other Income |
$1,200
|
$0.65
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$62,280
|
$33.83
|
| Taxes |
$4,955
|
$2.69
|
| Operating Expenses |
$7,642
|
$4.15
|
| Total Expenses |
$12,597
|
$6.84
|
| Net Operating Income |
$49,683
|
$26.99
|
Financial Summary (Actual - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $61,080 |
| Annual Per SF | $33.18 |
| Other Income | |
|---|---|
| Annual | $1,200 |
| Annual Per SF | $0.65 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $62,280 |
| Annual Per SF | $33.83 |
| Taxes | |
|---|---|
| Annual | $4,955 |
| Annual Per SF | $2.69 |
| Operating Expenses | |
|---|---|
| Annual | $7,642 |
| Annual Per SF | $4.15 |
| Total Expenses | |
|---|---|
| Annual | $12,597 |
| Annual Per SF | $6.84 |
| Net Operating Income | |
|---|---|
| Annual | $49,683 |
| Annual Per SF | $26.99 |
Property Facts
| Price | $950,000 | Apartment Style | Low-Rise |
| Price Per Unit | $316,667 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 5.04% | Building Size | 1,841 SF |
| No. Units | 3 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1910 |
| Zoning | U-SU-B | ||
| Price | $950,000 |
| Price Per Unit | $316,667 |
| Sale Type | Investment |
| Cap Rate | 5.04% |
| No. Units | 3 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 1,841 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1910 |
| Zoning | U-SU-B |
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Walk Score®
Very Walkable (85)
Bike Score®
Very Bikeable (70)
Property Taxes
| Parcel Number | 5156-21-027 | Total Assessment | $55,590 |
| Land Assessment | $21,620 | Annual Taxes | $4,955 ($2.69/SF) |
| Improvements Assessment | $21,620 | Tax Year | 2025 |
Property Taxes
Parcel Number
5156-21-027
Land Assessment
$21,620
Improvements Assessment
$21,620
Total Assessment
$55,590
Annual Taxes
$4,955 ($2.69/SF)
Tax Year
2025
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422 E Tennessee | 422 E Tennessee Ave
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