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982 S Sheridan Blvd 10 Unit Apartment Building $1,850,000 ($185,000/Unit) 6.37% Cap Rate Denver, CO 80226
Investment Highlights
- Delivers durable cash flow with below-market leases, enabling immediate NOI growth and cap rate expansion through natural lease renewals
- Immediate access to Alameda Ave and 6th Ave, the property benefits from proximity to major employment centers, retail corridors, and public transit
- Comprehensively renovated, positioning the property as a true turnkey investment with no anticipated near-term capital expenditure requirements
Executive Summary
Marcus & Millichap is pleased to present the exclusive opportunity to acquire 982 S Sheridan Blvd, a fully renovated, stabilized multifamily investment located in the desirable West Denver submarket. The property offers investors a compelling combination of strong in-place income, immediate upside through rent normalization, and additional NOI growth through utility reimbursement implementation.
With all major renovations completed, the asset is positioned as a low-risk, turnkey acquisition with predictable operations and limited ongoing capital requirements. Several in-place leases remain below market, allowing a new owner to enhance returns through natural lease turnover rather than speculative value-add strategies. Additionally, individual metering for gas and electricity provides a straightforward opportunity to improve expense recoveries and increase net operating income.
982 S Sheridan Blvd represents an attractive opportunity for investors seeking a stabilized multifamily asset with multiple day-one income growth levers, durable tenant demand, and long-term appreciation supported by Denver’s strong market fundamentals.
With all major renovations completed, the asset is positioned as a low-risk, turnkey acquisition with predictable operations and limited ongoing capital requirements. Several in-place leases remain below market, allowing a new owner to enhance returns through natural lease turnover rather than speculative value-add strategies. Additionally, individual metering for gas and electricity provides a straightforward opportunity to improve expense recoveries and increase net operating income.
982 S Sheridan Blvd represents an attractive opportunity for investors seeking a stabilized multifamily asset with multiple day-one income growth levers, durable tenant demand, and long-term appreciation supported by Denver’s strong market fundamentals.
Property Facts
| Price | $1,850,000 | Apartment Style | Low-Rise |
| Price Per Unit | $185,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.63 AC |
| Cap Rate | 6.37% | Building Size | 7,200 SF |
| No. Units | 10 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built/Renovated | 1956/2021 |
| Zoning | E-TU-C | ||
| Price | $1,850,000 |
| Price Per Unit | $185,000 |
| Sale Type | Investment |
| Cap Rate | 6.37% |
| No. Units | 10 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | B |
| Lot Size | 0.63 AC |
| Building Size | 7,200 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built/Renovated | 1956/2021 |
| Zoning | E-TU-C |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- 24 Hour Access
- Laundry Facilities
- Tenant Controlled HVAC
- Trash Pickup - Curbside
- Storage Space
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 10 | - | 785 |
1 1
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (76)
Property Taxes
| Parcel Number | 5183-00-882 | Improvements Assessment | $22,330 |
| Land Assessment | $22,330 | Total Assessment | $154,750 |
Property Taxes
Parcel Number
5183-00-882
Land Assessment
$22,330
Improvements Assessment
$22,330
Total Assessment
$154,750
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982 S Sheridan Blvd
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