Midtown Gardens is a turnkey investment opportunity totaling 34 units and weighted towards renovated 1 bedrooms. Originally built in 1970-1972, the property has undergone extensive renovation totaling well over $1,000,000 in costs. Capital improvements in the past 2 years include roof, electrical, plumbing, windows, exterior stairs, exterior paint, landscaping, concrete, and more. In addition, all 34 interiors have been renovated with high end finishes, making this one of the most attractive workforce housing options in the area. Tenants enjoy easy access to Downtown Denver and Boulder via nearby Highway 36. However, the subject property actually falls into Adams county and is therefore not subject to many of Denver’s landlord laws.
For the right investor, this is an opportunity to buy a clean deal with attractive returns in the mid 6 CAP range.