1361 Humboldt St - Apartments FOR SALE


Denver, CO 80218- Cheesman Park
$1,400,000 USD
303-590-4537
1361 Humboldt St, Denver, CO for Sale
$1,400,000 USD
Apartments - FOR SALE
1/18
null | Request Cap Rate

1361 Humboldt St
Denver, CO 80218
Cheesman Park


HIGHLIGHTS

  • Great Central Denver Location; Historic Cheesman Park Neighborhood
  • Low Price Per Unit and Price Per SF
  • Strong Value-Add by Increasing Rents to Market
  • Well-Maintained Systems: Boiler Replaced 2024; Electrical & Plumbing Replaced 2007
  • Nine Units: Eight One-Bedrooms & One Two-Bedroom
  • Low Maintenance Exterior; Brick Building; Pitched Roof; On-Site Laundry; Zero Landscaping

OVERVIEW

1361 Humboldt Street is a nine-unit multifamily located in Central Denver's historic Cheesman Park Neighborhood, one of the most popular rental markets in metropolitan Denver. The 80-acre Cheesman Park is within walking distance of the property and includes large open spaces, the Denver Botanical Gardens, numerous festivals and events throughout the year, and popular restaurants and bars that surround the park in this dense residential area. There are eight one-bedroom units and one two-bedroom unit, all having various upgrades over the last 10 years. Built in 1928, this all-brick building sits on a 4,690-SF lot. There is a pitched roof estimated at 15 years old and updated systems and mechanicals. The main boiler that provides heat to the building was completely replaced in 2024 with plumbing and electrical replaced in 2007. The building is individually metered for electricity, paid directly by the residents, and master metered for gas and water, which the owner pays and is not currently being reimbursed by the residents. The property has an on-site laundry facility that is currently free to the residents, zero landscaping to maintain, and street parking only, so no parking lot to maintain. This is a strong value-add for an investor to increase rent to market plus collect additional income by charging for utilities, pets, and laundry.

FOR SALE DETAILS

PRICE

$1,400,000 USD

PRICE/SF

$310 USD /SF

# OF UNITS

9

PRICE/UNIT

$155,556

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1928

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.11 AC

LAND SF

4,626 SF

ZONING

R3, Denver

APN/PARCEL ID

5022-17-025

ASK ABOUT THIS PROPERTY

Clayton PrimmMarcus & MillichapMore Info
303-590-4537

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Clayton PrimmMarcus & MillichapMore Info
303-590-4537

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.