Corona Apartments | 1228 N Corona St
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Corona Apartments 1228 N Corona St
7 Unit Apartment Building $1,300,000 ($185,714/Unit) 5.20% Cap Rate Denver, CO 80218
Investment Highlights
- Fully Leased
Executive Summary
Fully Leased, easy to manage, rent growth potential. Huge opportunity for redevelopment. Zoning allows for 5 stories.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$84,000
|
$35.35
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$84,000
|
$35.35
|
| Taxes |
$5,588
|
$2.35
|
| Operating Expenses |
$10,500
|
$4.42
|
| Total Expenses |
$16,088
|
$6.77
|
| Net Operating Income |
$67,912
|
$28.58
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $84,000 |
| Annual Per SF | $35.35 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $84,000 |
| Annual Per SF | $35.35 |
| Taxes | |
|---|---|
| Annual | $5,588 |
| Annual Per SF | $2.35 |
| Operating Expenses | |
|---|---|
| Annual | $10,500 |
| Annual Per SF | $4.42 |
| Total Expenses | |
|---|---|
| Annual | $16,088 |
| Annual Per SF | $6.77 |
| Net Operating Income | |
|---|---|
| Annual | $67,912 |
| Annual Per SF | $28.58 |
Property Facts
| Price | $1,300,000 | Building Class | C |
| Price Per Unit | $185,714 | Lot Size | 0.14 AC |
| Sale Type | Investment | Building Size | 2,376 SF |
| Cap Rate | 5.20% | Average Occupancy | 100% |
| No. Units | 7 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1892 |
| Property Subtype | Apartment | Parking Ratio | 2.1/1,000 SF |
| Price | $1,300,000 |
| Price Per Unit | $185,714 |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 7 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 2,376 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1892 |
| Parking Ratio | 2.1/1,000 SF |
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 6 | - | - |
| 1+1 | 1 | - | - |
1 of 1
Walk Score ®
Walker's Paradise (92)
Bike Score ®
Biker's Paradise (98)
PROPERTY TAXES
| Parcel Number | 5022-23-007 | Total Assessment | $96,450 (2023) |
| Land Assessment | $27,140 (2023) | Annual Taxes | $5,588 ($2.35/SF) |
| Improvements Assessment | $69,310 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5022-23-007
Land Assessment
$27,140 (2023)
Improvements Assessment
$69,310 (2023)
Total Assessment
$96,450 (2023)
Annual Taxes
$5,588 ($2.35/SF)
Tax Year
2024
zoning
| Zoning Code | g-mu-5 (g-mu-5) |
| g-mu-5 (g-mu-5) |
-
Mike Christensen -
Aspen Gold Realty, Inc
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Corona Apartments | 1228 N Corona St
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