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$999,999
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6,534 Sqft Lot
UPDATED:
12/04/2024 09:54 PM
Key Details
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5811963
HOA Y/N No
Originating Board recolorado
Year Built 1950
Annual Tax Amount $8,023
Tax Year 2023
Lot Size 6,534 Sqft
Acres 0.15
Property Description
VALUE ADD OPPORTUNITY!!! Eight unit apartment building one block from the Fitzsimons / Anschutz Medical Campus. All units are 1 Bed/1 Bath, four garden-level units and four upstairs units, many updated with vinyl plank flooring. The grounds are xeriscaped and the building has a NEW roof. The building is heated by a central boiler, master metered for gas and electric, tenants are bill $100 per month for utility use. There is space in the building to add a community laundry facility for residents, which would provide additional income to the new owner. There are eight off-street parking spaces to the rear of the property. Entry is through secure front and back doors. Built in 1950, 1733 Paris Street offers residents a prime location next to Fitzsimons / Anschutz Medical Campus and the rest of the Fitzsimons Innovation District as well as surrounding development. This is a value-add opportunity with an achievable 6.60%+ market capitalization rate though improved operations and increasing rents to market, neighboring building is renting the same 1 bed unit for $1,300 per month. Given demand from traveling nurses at throughout the medical facilities at Fitzsimons, this creates option to convert leases to mid-term rentals. Mid-term rental rates typically increase monthly income by twenty percent.
Location
State CO
County Adams
Interior
Fireplace N
Exterior
Total Parking Spaces 8
Garage No
Building
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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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 by Marcus & Millichap Real Estate Investment Services of Atlanta, Inc. • clayton.primm@marcusmillichap.com,303-328-2075
