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Asbury Gardens 4640 E Asbury Cir 22 Unit Apartment Building $3,595,000 ($163,409/Unit) 6.52% Cap Rate Denver, CO 80222
Investment Highlights
- All units updated in 2020-2021 ($300k spent)
- On-site common laundry for tenant use (seller owned)
- 3 off-street parking spaces (additional income)
- Individual furnace/hot water in units, tenants billed directly
- Tenants pay for gas/unit electric directly; billed back for water/sewer/trash
- Assumable debt at 2.95%
Executive Summary
NorthPeak Commercial Real Estate Advisors is pleased to present Asbury Gardens, a turn-key 22-unit apartment community with (2) 1Bd/1Ba units, (19) 2Bd/1Ba units and (1) 3Bd/1Ba unit. All units show very well having received a total renovation since 2021 by current ownership.
Asbury Gardens is well-located between Cherry Creek and the Denver Tech Center (DTC) with great access to all of Denver. Tenants are also a short walk to the RTD Light Rail via a pedestrian bridge that begins just steps from the front of the property. The asset also offers great curb appeal with a mid century aesthetic and a nicely landscaped courtyard that anchors this quiet community.
Finally, Asbury Gardens is brought to market with the option of assumable debt at just 2.95%. Please contact listing brokers for details and showings.
Asbury Gardens is well-located between Cherry Creek and the Denver Tech Center (DTC) with great access to all of Denver. Tenants are also a short walk to the RTD Light Rail via a pedestrian bridge that begins just steps from the front of the property. The asset also offers great curb appeal with a mid century aesthetic and a nicely landscaped courtyard that anchors this quiet community.
Finally, Asbury Gardens is brought to market with the option of assumable debt at just 2.95%. Please contact listing brokers for details and showings.
Property Facts
| Price | $3,595,000 | Apartment Style | Low-Rise |
| Price Per Unit | $163,409 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.38 AC |
| Cap Rate | 6.52% | Building Size | 15,980 SF |
| No. Units | 22 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1962 |
| Property Subtype | Apartment | Parking Ratio | 0.19/1,000 SF |
| Zoning | S-MU-5 - Residential | ||
| Price | $3,595,000 |
| Price Per Unit | $163,409 |
| Sale Type | Investment |
| Cap Rate | 6.52% |
| No. Units | 22 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.38 AC |
| Building Size | 15,980 SF |
| No. Stories | 2 |
| Year Built | 1962 |
| Parking Ratio | 0.19/1,000 SF |
| Zoning | S-MU-5 - Residential |
Amenities
Unit Amenities
- Kitchen
- Refrigerator
- Oven
- Tub/Shower
Site Amenities
- Trash Pickup - Curbside
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 2 | - | 630 |
| 2+1 | 19 | - | 662 |
| 3+1 | 1 | - | 850 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 6302-23-009 | Improvements Assessment | $19,190 |
| Land Assessment | $19,190 | Total Assessment | $296,710 |
Property Taxes
Parcel Number
6302-23-009
Land Assessment
$19,190
Improvements Assessment
$19,190
Total Assessment
$296,710
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Asbury Gardens | 4640 E Asbury Cir
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