1475 Cherry St - Apartments FOR SALE


Denver, CO 80220
$4,500,000 USD
720-996-2495
1475 Cherry St, Denver, CO for Sale
$4,500,000 USD
Apartments - FOR SALE
1/31
null | Request Cap Rate

1475 Cherry St
Denver, CO 80220


HIGHLIGHTS

  • Seller Financing/ Owner Carry
  • Oversized Lot
  • Built As Property
  • Prime Location

OVERVIEW

Prime Investment Opportunity With Seller Financing Available: 17-Unit Apartment Complex in Denver with Value-Add Potential Nestled just steps from Colfax Avenue, Denver's vibrant cultural and commercial corridor, this 17-unit apartment complex presents an unparalleled opportunity for investors. This property boasts a blend of urban convenience and untapped potential, making it an ideal choice for those seeking to maximize returns in one of Denver’s most dynamic neighborhoods. Property Highlights: Unit Mix: A built-for property with a versatile mix of 1-bedroom and 2-bedroom apartments, catering to a broad tenant base. Location: Situated within walking distance to Colfax Avenue, this property offers easy access to restaurants, breweries, coffee shops, and boutique retail. The proximity to public transportation and major thoroughfares ensures strong tenant demand. Upside Potential: While currently stabilized with consistent occupancy, this property offers significant room for upside potential through strategic upgrades. On-Site Amenities: Includes dedicated parking, a shared courtyard space, and on-site laundry facilities—features that are highly desirable for tenants in this area. Value-Add Opportunities: Renovation Potential: Cosmetic updates to kitchens, bathrooms, and flooring could drive up rental income. Energy Efficiency Upgrades: Implementing energy solutions like LED lighting, low-flow fixtures, and solar panels could lower operating costs. Reconfiguration Options: Certain units offer the potential for conversion or reconfiguration to maximize rental income. Neighborhood Features: Colfax Avenue is the heartbeat of Denver, offering entertainment venues, art galleries, and nightlife. This property’s location also benefits from proximity to several parks, schools, and employment hubs, ensuring a steady stream of qualified tenants. The area is experiencing continued growth, with developments and revitalization efforts enhancing its long-term value.

FOR SALE DETAILS

PRICE

$4,500,000 USD

PRICE/SF

$375 USD /SF

# OF UNITS

17

PRICE/UNIT

$264,706

CAP RATE

Request Cap Rate

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Cherry Manor Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1946

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.32 AC

LAND SF

14,100 SF

ZONING

R-2

APN/PARCEL ID

6062-03-018

ASK ABOUT THIS PROPERTY

Joseph PrinziOld Country Real Estate GroupMore Info
720-996-2495

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

Joseph PrinziOld Country Real Estate GroupMore Info
720-996-2495

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