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The Points at California 29 651 29th St 14 Unit Apartment Building $3,085,000 ($220,357/Unit) 4.02% Cap Rate Denver, CO 80205
Investment Highlights
- Newly renovated, pet-friendly apartment community in Denver's historic Five Points neighborhood.
- Select units feature stainless steel appliances, wood-style flooring, modern lighting, and French-door refrigerators.
- Prime location with convenient access to local cafés, music venues, RiNo Arts District, Curtis Park, and multiple public transit options.
- Offers spacious one- and two-bedroom floorplans combining vintage 1959 architecture with modern updates.
- Community amenities include on-site laundry and uncovered parking (subject to availability).
- Residents enjoy scenic views of both the mountains and the city.
Executive Summary
MODUS Commercial Real Estate is pleased to present The Points at California 29, a 14-unit multifamily investment opportunity in Denver's historic Five Points neighborhood with a mid-century-modern design motif. The property has undergone a comprehensive capital improvement program, including a full HVAC replacement across all 14 units, a renovated laundry room, repaved and restriped parking, and rebuilt exterior walkways, stairwells, and railings, substantially reducing near-term capital exposure for a new owner. A defining feature of this offering is an assumable Freddie Mac loan with a $1,750,000 balance fixed at 2.99% through August 2027, providing a qualified buyer with below market financing that is difficult to replicate in today's rate environment. Professionally managed by Cornerstone and stabilized. Positioned within walking distance of RiNo, Larimer Street, Coors Field, and Downtown Denver, the asset pairs strong, transit-served urban demand with a clear value-add
path: nearly half of the units have already been fully remodeled, with additional rent upside available as remaining leases turn.
path: nearly half of the units have already been fully remodeled, with additional rent upside available as remaining leases turn.
Property Facts
| Price | $3,085,000 | Apartment Style | Low-Rise |
| Price Per Unit | $220,357 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.21 AC |
| Cap Rate | 4.02% | Building Size | 11,565 SF |
| No. Units | 14 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1959 |
| Property Subtype | Apartment | Parking Ratio | 1/1,000 SF |
| Zoning | G-RH-3 - G-RH-3 zoning allows attached row house residences up to three stories in general urban areas. | ||
| Price | $3,085,000 |
| Price Per Unit | $220,357 |
| Sale Type | Investment |
| Cap Rate | 4.02% |
| No. Units | 14 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.21 AC |
| Building Size | 11,565 SF |
| No. Stories | 3 |
| Year Built | 1959 |
| Parking Ratio | 1/1,000 SF |
| Zoning | G-RH-3 - G-RH-3 zoning allows attached row house residences up to three stories in general urban areas. |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | $1,350 | 550 |
| 2+1 | 6 | $1,600 | 750 |
Very walkable
80/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 2276-14-011 | Improvements Assessment | $49,630 |
| Land Assessment | $49,630 | Total Assessment | $236,780 |
Property Taxes
Parcel Number
2276-14-011
Land Assessment
$49,630
Improvements Assessment
$49,630
Total Assessment
$236,780
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The Points at California 29 | 651 29th St