The Francesca | 1465 Elm St
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The Francesca 1465 Elm St
15 Unit Apartment Building $3,495,000 ($233,000/Unit) 5.53% Cap Rate Denver, CO 80220
Investment Highlights
- Classic Post-War Building
- New Vinyl Windows
- Dedicated Parking for Each Apartment
- Desirable Mix of 1 Bedroom and 2 Bedroom Units
- Renovated Hallways and Common Areas
Executive Summary
The Francesca is an attractive 1940’s apartment building in Denver’s popular Mayfair neighborhood. The 15-unit building features seven large 1 bed/1 bath and eight 2 bed/1 bath apartments. The units offer designer upgrades tastefully integrated with charming vintage touches including refinished hardwood floors, coved ceilings, picture molding, large windows, and spacious closets.
The building features onsite laundry, comfortable outdoor spaces for tenants and their pets, and 15 off-street parking spaces. Recent capital improvements include brand new windows, fully-renovated hallways and common areas, new exterior flatwork, a stamped concrete patio with firepit and seating area, and a dog run. The location, which is just blocks from the dining, retail and entertainment found in the brand-new “9+CO” development, and nearby City Park, offers endless recreational options. Rents can be further improved with modest cosmetic upgrades to kitchens and bathrooms.
The building features onsite laundry, comfortable outdoor spaces for tenants and their pets, and 15 off-street parking spaces. Recent capital improvements include brand new windows, fully-renovated hallways and common areas, new exterior flatwork, a stamped concrete patio with firepit and seating area, and a dog run. The location, which is just blocks from the dining, retail and entertainment found in the brand-new “9+CO” development, and nearby City Park, offers endless recreational options. Rents can be further improved with modest cosmetic upgrades to kitchens and bathrooms.
Property Facts
| Price | $3,495,000 | Building Class | C |
| Price Per Unit | $233,000 | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 12,855 SF |
| Cap Rate | 5.53% | Average Occupancy | 93% |
| No. Units | 15 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1945 |
| Property Subtype | Apartment | Parking Ratio | 3.32/1,000 SF |
| Apartment Style | Low Rise |
| Price | $3,495,000 |
| Price Per Unit | $233,000 |
| Sale Type | Investment |
| Cap Rate | 5.53% |
| No. Units | 15 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 12,855 SF |
| Average Occupancy | 93% |
| No. Stories | 2 |
| Year Built | 1945 |
| Parking Ratio | 3.32/1,000 SF |
Unit Amenities
- Heating
- Kitchen
- Range
Site Amenities
- Laundry Facilities
- Security System
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 7 | - | 600 |
| 2+1 | 8 | - | 750 |
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Walk Score ®
Very Walkable (80)
Bike Score ®
Very Bikeable (77)
PROPERTY TAXES
| Parcel Number | 6061-07-022 | Improvements Assessment | $131,300 |
| Land Assessment | $81,630 | Total Assessment | $212,930 |
PROPERTY TAXES
Parcel Number
6061-07-022
Land Assessment
$81,630
Improvements Assessment
$131,300
Total Assessment
$212,930
zoning
| Zoning Code | R-2 |
| R-2 |
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The Francesca | 1465 Elm St
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