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The Novelist 960 Grant St 69 Unit Apartment Building $12,000,000 ($173,913/Unit) Denver, CO 80203
Investment Highlights
- SIGNIFICANTLY BELOW-MARKET, LONG-TERM ASSUMABLE DEBT: 78% LTV INTEREST ONLY FINANCING, FIXED AT 3.59%, WITH APPROXIMATELY FOUR YEARS REMAINING
- IMMEDIATE OPERATIONAL UPSIDE THROUGH STREAMLINED MANAGEMENT AND EXPENSE EFFICIENCIES
- TURNKEY CORE DENVER ASSET: TROPHY PROPERTY IN A PREMIER INFILL LOCATION FUTURE
- PROJECTED YEAR 1 CASH-ON-CASH RETURNS EXCEEDING 9.5%!
- OVER $2,300,000 IN RECENT CAPITAL IMPROVEMENTS
- FUTURE DEVELOPMENT POTENTIAL WITH SDP APPROVED FOR 48 UNITS AT 951 LOGAN
Executive Summary
growth engine in the heart of Denver’s vibrant Capitol Hill.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2025) 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 |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2025) 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 | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $12,000,000 | Building Class | B |
| Price Per Unit | $173,913 | Lot Size | 0.35 AC |
| Sale Type | Investment | Building Size | 70,000 SF |
| No. Units | 69 | Average Occupancy | 91% |
| Property Type | Multifamily | No. Stories | 10 |
| Property Subtype | Apartment | Year Built | 1937 |
| Apartment Style | Mid-Rise | Parking Ratio | 1.47/1,000 SF |
| Zoning | C-MX-8 | ||
| Price | $12,000,000 |
| Price Per Unit | $173,913 |
| Sale Type | Investment |
| No. Units | 69 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.35 AC |
| Building Size | 70,000 SF |
| Average Occupancy | 91% |
| No. Stories | 10 |
| Year Built | 1937 |
| Parking Ratio | 1.47/1,000 SF |
| Zoning | C-MX-8 |
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Heating
- Ceiling Fans
- Double Pane Windows
Site Amenities
- Business Center
- Fitness Center
- Laundry Facilities
- Pool
- Security System
- Grill
- Bicycle Storage
- Multi Use Room
- Pet Care
- Pet Washing Station
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 40 | - | 259 - 410 |
| 1+1 | 28 | - | 523 - 614 |
| 2+1 | 1 | - | 810 |
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Property Taxes
| Parcel Number | 5038-14-020 | Improvements Assessment | $151,080 |
| Land Assessment | $151,080 | Total Assessment | $1,036,940 |
Property Taxes
Contacts
-
Jim Knowlton -
Chris Knowlton -
Mark Knowlton -
Jennifer King -
Pinnacle Real Estate Advisors
