2271-2275 S Cherokee St 5 Unit Apartment Building $1,499,000 ($299,800/Unit) 5.10% Cap Rate Denver, CO 80223

Amazing investment opportunity to buy, hold or redevelop in the very desirable Overland Park Neighborhood. 2275 & 2281 S Cherokee are two separate Mid-Century single family detached homes next door to each other that also have full basements. There are 4 two-bedroom units plus ADU that is large 625 SF studio. This is on a huge double oversized lot that is 12,500 square feet with mountain views and 100 SF of street frontage. There is new construction all around and the zoning allows for multiple units on this site (U-TU-C). These units have been nicely updated with wood flooring, newer carpet and appliances. The property also has a newer roof and many new windows. There is an on site Landry room. Plenty of privacy with huge fenced in backyards and sprinklers. This property provides a large amount of parking. There is a two car garage plus 8 off street parking spaces. The property is under rented and protected rents are higher. All units are licensed rentals with the City. 1 block to the light rail and public transportation!! This prime location puts you right at vibrant South Broadway where you can walk to a plethora of shops, restaurants, and bars. Also providing easy light rail access, and unbeatable proximity to DU, Overland Golf Cours, Levitt Pavilion, Platte River Trail, Evans Station and several parks including Ruby Hill, Rosedale and Harvard Park.
Both single family houses 2275 & 2281 S Cherokee plus ADU are included in the sale. Two units have been left vacant for easy showing. It is a go and show but the agent can meet you there. Rent Roll- $2000, 2000, 1600, 1600 (projected vacant unit) 500 ADU (this ADU rent is half price as the tenant does work for the property manager)
plus tenants pay utilities. Both upstairs units get 2k in monthly rents per unit. The basements are getting $1600 a
month per unit. The ADU is under rented at $500 (property managers handy man lives there for a reduced rent- should be closer to $1000). 2 Single family houses next to each other with a garage
built between the homes. Tenants pay flat rate for utilities that include trash, electric and gas. Currently zoned U-TU-C
allowing for multi units on this site. Buyers attorney said it is easy to rezone to U-TU-B to allow for 6 units. It is the buyers
responsibility to confirm this and all development information and the seller is not selling this as a 6 unit redevelopment. Don't let this rare opportunity pass you by! It is the buyer and buyers agents responsibility to verify total square foot and all building site details and redevelopment.