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Acacia Apartments 429 E 14th Ave 55 Unit Apartment Building $7,700,000 ($140,000/Unit) 6.68% Cap Rate Denver, CO 80203
INVESTMENT HIGHLIGHTS
- Charming gem in an impeccable Capital Hill location
- 1920’s character with entirely modernized systems
- Potential for increased rental income and additional revenue streams through bike storage, lockers, and amenity fees
- Very Attractive Loan Assumption through August 2027; 4.02% Interest rate; Over 50% LTV
- Substantial CapEx completed with ability to implement a cosmetic value add in order to maximize income & tenant experience
- Close proximity to business district and all major employers
EXECUTIVE SUMMARY
The Acacia is a historic building located in the desirable Capitol Hill neighborhood, featuring a total of 55 units: 30 two-bedroom apartments and 25 studios that can be easily converted into one-bedroom units. The property has been meticulously maintained, showcasing updated mechanical systems, including the boiler, electrical panels, and plumbing (excluding unit bathrooms). Windows have also been replaced as necessary, enhancing both efficiency and aesthetics.
Investment Opportunity: This property presents a compelling investment opportunity, bolstered by an attractive loan assumption from Chase totaling $5,500,000 at a favorable interest rate of 4.02%. This financing structure facilitates a straightforward value-add strategy, allowing investors to enhance the property’s income potential gradually as leases turn, rather than requiring an immediate vacancy. Contact Kaufman Hagan Brokers for pricing.
Market Position: Situated in an established yet improving area, Acacia Apartments offers long-term cash flow potential in a vibrant neighborhood. The combination of its historic charm, updated systems, and strategic location makes it a prime candidate for sustained rental demand and potential appreciation.
Investment Opportunity: This property presents a compelling investment opportunity, bolstered by an attractive loan assumption from Chase totaling $5,500,000 at a favorable interest rate of 4.02%. This financing structure facilitates a straightforward value-add strategy, allowing investors to enhance the property’s income potential gradually as leases turn, rather than requiring an immediate vacancy. Contact Kaufman Hagan Brokers for pricing.
Market Position: Situated in an established yet improving area, Acacia Apartments offers long-term cash flow potential in a vibrant neighborhood. The combination of its historic charm, updated systems, and strategic location makes it a prime candidate for sustained rental demand and potential appreciation.
FINANCIAL SUMMARY (ACTUAL - 2023) 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 |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
FINANCIAL SUMMARY (ACTUAL - 2023) 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
PROPERTY FACTS
| Price | $7,700,000 | Apartment Style | Low-Rise |
| Price Per Unit | $140,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.36 AC |
| Cap Rate | 6.68% | Building Size | 32,675 SF |
| No. Units | 55 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1922 |
| Property Subtype | Apartment | ||
| Zoning | R-4 | ||
| Price | $7,700,000 |
| Price Per Unit | $140,000 |
| Sale Type | Investment |
| Cap Rate | 6.68% |
| No. Units | 55 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.36 AC |
| Building Size | 32,675 SF |
| No. Stories | 3 |
| Year Built | 1922 |
| Zoning | R-4 |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Microwave
- Storage Space
- Heating
- Ceiling Fans
- Hardwood Floors
- Vaulted Ceiling
- High Speed Internet Access
- Refrigerator
- Range
- Walk-In Closets
SITE AMENITIES
- Controlled Access
- Courtyard
- Fitness Center
- Laundry Facilities
- Security System
- Gated
- Video Patrol
- Grill
- Wi-Fi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 24 | - | 440 |
| 1+1 | 1 | - | 440 |
| 2+1 | 30 | - | 770 |
1 1
Walk Score®
Walker's Paradise (96)
Transit Score®
Excellent Transit (75)
Bike Score®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 5031-04-007 | Total Assessment | $768,560 (2024) |
| Land Assessment | $90,540 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $678,020 (2024) | Tax Year | 2023 |
PROPERTY TAXES
Parcel Number
5031-04-007
Land Assessment
$90,540 (2024)
Improvements Assessment
$678,020 (2024)
Total Assessment
$768,560 (2024)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2023
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Acacia Apartments | 429 E 14th Ave
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