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5109 E 34th Ave 3 Unit Apartment Building Offered at $600,000 at a 5.97% Cap Rate Denver, CO 80207
Investment Highlights
- DIVERSIFIED UNIT MIX WITH ONE-, TWO-, AND FOUR-BEDROOM FLOOR PLANS
- ATTAINABLE ENTRY POINT FOR MULTIFAMILY OWNERSHIP IN NORTH PARK HILL
- DESIRABLE NORTH PARK HILL LOCATION WITH PROXIMITY TO DOWNTOWN DENVER
- STRONG CASH FLOW WITH 13%+ NOI GROWTH IN YEAR ONE
- STABILIZED THREE-UNIT ASSET WITH MEANINGFUL YIELD EXPANSION
- ORGANIC NOI GROWTH THROUGH BELOW-MARKET RENTS
Executive Summary
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 5109 E 34th Ave, a stabilized three-unit multifamily investment located in Denver’s North Park Hill neighborhood. Offered at $600,000, the property provides investors with an attractive 5.97% current cap rate with projected expansion to 6.75% in Year One, combining strong in-place cash flow with meaningful organic income growth.
The property generates $35,816 in current NOI with projected growth to $40,477 in Year One, representing approximately 13% NOI expansion. The diversified unit mix consists of one 1 Bed / 1 Bath, one 2 Bed / 1 Bath, and one 4 Bed / 1 Bath unit, providing exposure to multiple renter profiles within a single small-scale multifamily investment. Below-market rents on portions of the property create a clear path to additional income through natural lease rollover rather than significant capital investment.
Located in North Park Hill with convenient access to Downtown Denver, City Park, major transportation corridors, and the broader Central Denver employment base, 5109 E 34th St combines an established residential location with an attainable acquisition price and visible Year One yield expansion. The offering represents a differentiated opportunity for investors seeking stable in-place cash flow, manageable operations, and continued income growth within the Denver MSA.
The property generates $35,816 in current NOI with projected growth to $40,477 in Year One, representing approximately 13% NOI expansion. The diversified unit mix consists of one 1 Bed / 1 Bath, one 2 Bed / 1 Bath, and one 4 Bed / 1 Bath unit, providing exposure to multiple renter profiles within a single small-scale multifamily investment. Below-market rents on portions of the property create a clear path to additional income through natural lease rollover rather than significant capital investment.
Located in North Park Hill with convenient access to Downtown Denver, City Park, major transportation corridors, and the broader Central Denver employment base, 5109 E 34th St combines an established residential location with an attainable acquisition price and visible Year One yield expansion. The offering represents a differentiated opportunity for investors seeking stable in-place cash flow, manageable operations, and continued income growth within the Denver MSA.
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- Offering Memorandum
Property Facts
| Price | $600,000 | Property Type | Multifamily |
| Price Per Unit | $200,000 | Building Size | 2,650 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 5.97% | Year Built | 1959 |
| No. Units | 3 | Opportunity Zone |
Yes
|
| Price | $600,000 |
| Price Per Unit | $200,000 |
| Sale Type | Investment |
| Cap Rate | 5.97% |
| No. Units | 3 |
| Property Type | Multifamily |
| Building Size | 2,650 SF |
| No. Stories | 1 |
| Year Built | 1959 |
| Opportunity Zone |
Yes |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 1 | $1,060 | 600 |
| 2+1 | 1 | $1,300 | 850 |
| 4+1 | 1 | $2,000 | 1,200 |
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Fairly walkable
50/100
Very drivable
80/100
Some public transit
50/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 1301-15-023 | Improvements Assessment | $13,400 |
| Land Assessment | $13,400 | Total Assessment | $45,080 |
Property Taxes
Parcel Number
1301-15-023
Land Assessment
$13,400
Improvements Assessment
$13,400
Total Assessment
$45,080
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