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$ 1,225,000
Est. payment /mo
Pending
3251-3263 Olive ST Denver, CO 80207
3,844 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Quadruplex
Listing Status Pending
Purchase Type For Sale
Square Footage 3,844 sqft
Price per Sqft $318
Subdivision Elmwood
MLS Listing ID 2104014
HOA Y/N No
Year Built 1955
Property Sub-Type Quadruplex
Property Description
3251-3263 Olive St. is an attractive 6-unit apartment building located in the Park Hill neighborhood of Denver. The building features (5) 2Bd/1Ba and (1) 3Bd/1Ba units situated in a side-by-side layout which is always preferred by both tenants and investors. The property is currently 100% occupied with proven stability of income. This listing boasts a current 6.8% cap rate on real income and expenses. With modest rent increases, investors can improve this to a 7.3% cap rate.
Current ownership completed a full overhaul of the property in 2016 including a new roof, full electrical upgrade, new plumbing throughout, new furnaces, in-unit laundry, and full unit remodels. All units have their own gas (separate furnaces) and electric meters which reduce ownership expenses. Tenants enjoy access to their private laundry, 7 parking spaces for the 6 units, and 4 of the units having access to fenced in back yards. For the right investor, this is a high cash flowing deal with no deferred maintenance in a great neighborhood of Denver.
Highlights:
Full property renovation in 2016 including new: roof, full electrical upgrade, furnaces, in-unit laundry, plumbing throughout, and full unit remodels
Premium 2bedroom and 3bedroom floor plans with in-unit laundry
Separately metered for both gas and electric which tenants pay directly
High returns on day 1 of ownership - 6.8% cap rate!
Attractive Park Hill location
Current ownership completed a full overhaul of the property in 2016 including a new roof, full electrical upgrade, new plumbing throughout, new furnaces, in-unit laundry, and full unit remodels. All units have their own gas (separate furnaces) and electric meters which reduce ownership expenses. Tenants enjoy access to their private laundry, 7 parking spaces for the 6 units, and 4 of the units having access to fenced in back yards. For the right investor, this is a high cash flowing deal with no deferred maintenance in a great neighborhood of Denver.
Highlights:
Full property renovation in 2016 including new: roof, full electrical upgrade, furnaces, in-unit laundry, plumbing throughout, and full unit remodels
Premium 2bedroom and 3bedroom floor plans with in-unit laundry
Separately metered for both gas and electric which tenants pay directly
High returns on day 1 of ownership - 6.8% cap rate!
Attractive Park Hill location
Location
State CO
County Denver
Zoning E-SU-DX
Interior
Heating Floor Furnace
Cooling Other
Exterior
Roof Type Shingle
Private Pool No
Building
Lot Description Level
Story One
Sewer Public Sewer
Schools
School District Elementary: Denver 1, Middle/Junior: Denver 1, High: Denver 1
Others
Senior Community No
Tax ID 1291-13-010
Special Listing Condition None Known
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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 byNorthPeak Commercial Advisors, LLC