2421-2423 S Marion St
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2421-2423 S Marion St
2 Unit Apartment Building $1,150,000 ($575,000/Unit) 5.05% Cap Rate Denver, CO 80210
Investment Highlights
- Opportunity to convert two spacious 4-bedroom units into four 2-bedroom units, maximizing rental income and appealing to a broader tenant base.
- Recently renovated (2022- 2023) with modern kitchens, bathrooms, new flooring, windows, appliances, and in-unit washer/ dryers.
- New roof (2018), water heaters, and furnaces, reducing future maintenance costs and enhancing property value.
- Ideally located near the University of Denver, Harvard Gulch Park, and major employment hubs, ensuring high demand and strong rental market appeal.
- Each unit offers 1,600 sq. ft of living space with private backyards, providing comfortable and desirable living arrangements for tenants.
Executive Summary
MMG is pleased to present an exceptional investment opportunity at 2421 S Marion St, this meticulously renovated duplex in Denver's sought-after University Park neighborhood. Featuring two expansive 4-bedroom units, each offering 1,600 sq. ft of modern living space, the property boasts comprehensive upgrades completed in 2022-2023, including new kitchens, bathrooms, flooring, windows, and in-unit washer/dryers. Investors will appreciate the prime location near the University of Denver, Harvard Gulch Park, and major employment hubs, ensuring strong rental demand. Additionally, the unique potential to convert the units into four 2-bedroom apartments provides a lucrative avenue to maximize rental income and appeal to a broader tenant base. This turn-key property, with new roof (2018), water heaters, and furnaces, represents a high-quality, low-maintenance investment poised for substantial returns.
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
-
|
-
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Actual - 2023) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $1,150,000 | Apartment Style | Low Rise |
| Price Per Unit | $575,000 | Building Class | B |
| Sale Type | Investment | Lot Size | 0.29 AC |
| Cap Rate | 5.05% | Building Size | 3,200 SF |
| No. Units | 2 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1951/2022 |
| Property Subtype | Apartment |
| Price | $1,150,000 |
| Price Per Unit | $575,000 |
| Sale Type | Investment |
| Cap Rate | 5.05% |
| No. Units | 2 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | B |
| Lot Size | 0.29 AC |
| Building Size | 3,200 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1951/2022 |
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 4+2 | 2 | $3,995 | 1,600 |
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Walk Score ®
Very Walkable (75)
Bike Score ®
Very Bikeable (78)
PROPERTY TAXES
| Parcel Number | 5265-07-009 | Improvements Assessment | $31,550 |
| Land Assessment | $29,790 | Total Assessment | $61,340 |
PROPERTY TAXES
Parcel Number
5265-07-009
Land Assessment
$29,790
Improvements Assessment
$31,550
Total Assessment
$61,340
zoning
| Zoning Code | U-TU-C (U-TU-C) |
| U-TU-C (U-TU-C) |
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2421-2423 S Marion St
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