Spectacular six-unit apartment complex with large units and a mix of four two-bedroom and two one-bedroom floorplans. Three story all-brick exterior, sitting on 0.14+ acres with an off street parking lot. 100% fully rented with on-site coin operated laundry and a newer water heater and high efficiency boiler. Average one-bedroom rents are $1,100 and two-bedroom rents are at $1,300. This asset is centrally located next to Powderhorn Park and has a stabilized in-place cap rate of 7.67% along with a 7.40 gross rent multiplier.
Property Facts
Year Built: 1961
Square Footage: 6,600
Units: 6
Zoning: Multiple-family District
Windows: Newer Vinyl Replacement Windows
Parking: 6 Off-Street Parking Spots
Exterior: Brick & Stucco
Heating: Newer High Efficiency Boiler
Unit Description
4 - 2 bedroom, 1 bath - Approx. 950+ Sqft.
2 - 1 bedroom, 1 bath - Approx. 650+ Sqft
Property Improvements
2024: New Commercial High-Efficiency Water Heater
2022: New Weil McLain High-Efficiency Hot Water Boiler
2015: Newer Black Rubber Roof
Price: $675,000
