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$2,100,000
Est. payment /mo
0.31 Acres Lot
UPDATED:
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 8685558
HOA Y/N No
Year Built 1971
Lot Size 0.307 Acres
Acres 0.31
Property Sub-Type Multi Family
Property Description
11948 E. 17th Avenue presents an exceptional value-add opportunity with significant upside in one of Metro Denver's strongest rental markets. This approved short sale features 18 apartment units directly across from the CU Anschutz Medical Campus and is priced at just $2.1 million.
The property includes five (5) three-bedroom, twelve (12) two-bedroom, and one (1) one-bedroom apartments, offering multiple strategies for increasing NOI through lease-up, renovations, and operational improvements. Investors may also explore mid-term rental opportunities to serve the area's growing healthcare workforce.
With a projected after-repair value (ARV) of $2.8M–$2.9M, this is an outstanding opportunity for investors seeking immediate upside and long-term appreciation. Financial projections assume a $200,000 capital improvement investment during Year 1, resulting in a projected Year 2 pro forma cap rate of 8.84%.
Approved Short Sale – Seller Encourages All Offers. Contact the listing team for the Offering Memorandum, financials, and a private tour.
The property includes five (5) three-bedroom, twelve (12) two-bedroom, and one (1) one-bedroom apartments, offering multiple strategies for increasing NOI through lease-up, renovations, and operational improvements. Investors may also explore mid-term rental opportunities to serve the area's growing healthcare workforce.
With a projected after-repair value (ARV) of $2.8M–$2.9M, this is an outstanding opportunity for investors seeking immediate upside and long-term appreciation. Financial projections assume a $200,000 capital improvement investment during Year 1, resulting in a projected Year 2 pro forma cap rate of 8.84%.
Approved Short Sale – Seller Encourages All Offers. Contact the listing team for the Offering Memorandum, financials, and a private tour.
Location
State CO
County Adams
Zoning MU-FB
Exterior
Waterfront Description Public
Private Pool No
Building
Lot Description Corner Lot
Sewer Public Sewer
Water Public
Others
Tax ID R0097574
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed byKeller Williams Integrity Real Estate LLC
Nearby School & Business
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Joseph Newman
The Colorado Broker License ID: 069025
The Colorado Broker License ID: 069025
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