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Night Window 8400 E Colfax Ave 25 Unit Apartment Building $2,780,000 ($111,200/Unit) Denver, CO 80220
INVESTMENT HIGHLIGHTS
- 25 Unit Multifamily (Artist Housing)
- E-MS-3 Zoning
- Redevelopment Potential
- Corner Location
- Fully Renovated
- Opportunity to Convert back to a Motel
EXECUTIVE SUMMARY
Hoff & Leigh brings you an incredible East Colfax opportunity! This rare opportunity can continue being operated as highly profitable multifamily, converted back to a motel, or utilized for its amazing location for a re-development project with income currently in place. There is endless potential with this unique property sitting on a highly visible corner of E Colfax. The property is currently a 25 unit multifamily property utilized for artist housing on nearly a half acre. Contact us today for more information.
Current NOI = $202,850.61
Proforma NOI = $227,150.61
Current Cap Rate = 7.3%
Proforma Cap Rate = 8.17%
Current NOI = $202,850.61
Proforma NOI = $227,150.61
Current Cap Rate = 7.3%
Proforma Cap Rate = 8.17%
PROPERTY FACTS
| Price | $2,780,000 | Lot Size | 0.42 AC |
| Price Per Unit | $111,200 | Building Size | 8,421 SF |
| Sale Type | Investment | Average Occupancy | 100% |
| No. Units | 25 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 2020 |
| Property Subtype | Apartment | Parking Ratio | 2.97/1,000 SF |
| Apartment Style | Low-Rise | Opportunity Zone |
Yes
|
| Building Class | C | ||
| Zoning | E-MS-3 | ||
| Price | $2,780,000 |
| Price Per Unit | $111,200 |
| Sale Type | Investment |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.42 AC |
| Building Size | 8,421 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 2020 |
| Parking Ratio | 2.97/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | E-MS-3 |
AMENITIES
SITE AMENITIES
- 24 Hour Access
- Business Center
- Clubhouse
- Courtyard
- Fenced Lot
- Picnic Area
- Property Manager on Site
- Laundry Service
- Pet Play Area
- Planned Social Activities
- Bicycle Storage
- Community-Wide WiFi
- Maintenance on site
- Multi Use Room
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 25 | - | 473 |
1 1
Walk Score®
Very Walkable (70)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Number | 6041-05-003 | Improvements Assessment | $154,170 |
| Land Assessment | $33,100 | Total Assessment | $187,270 |
PROPERTY TAXES
Parcel Number
6041-05-003
Land Assessment
$33,100
Improvements Assessment
$154,170
Total Assessment
$187,270
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Night Window | 8400 E Colfax Ave
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