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254, 256, 258 & 260 Delaware 254 Delaware St

4 Unit Apartment Building $1,725,000 ($431,250/Unit) 5.60% Cap Rate Denver, CO 80223

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Investment Highlights

Parcel Split Opportunity for Immediate Highest & Best ROI
4 Car Garage
Vintage Details

High Demand Walkable Neighborhood
Possibility to Demo Garage & Build Duplex
Multiple Investment Strategies

Executive Summary

Traditional Side-by-Side Red Brick Quadplex in Premium Baker Location with Four Car Garage on 9,379 Sq Ft Lot. Spacing Between the Duplexes, so Each Unit Only has One Attached Wall. All Units Now Vacant for Easy Project Management and Economies of Scale. For Immediate Highest and Best ROI, Parcel Split and Sell Individually. Or, Retain as an Income Producing Rental Plus the Option of Living in One Unit and Renting the Other Three. Further, Garage Could Be Scraped with New Multi-Unit Constructed or Garages Rented Separately. Unit #254 is a Blank Slate that Has Been Used as Storage. Period Details Abound Featuring High Ceilings, Tall Baseboards, Original Hardwoods, Solid Doors, Tiled Fireplaces, Wood Mantels, Clawfoot Tubs and Classic Stain Grade Millwork. Spacious Kitchens Featuring Voluminous Cabinetry and Compatible for a Large Island. Formal Dining Room, Large Living Area and Good Sized Bedrooms. Basements Accessible from the Interiors and Provide Abundant Storage or Easy Conversion to Finished Space. Full Basements in #258 & #260, Already with Partially Finished Spaces. Basement Bedroom and Rough-In Plumbing in #258 and Quarter Bath in #260 Basement. Private Fenced Yards and Covered Front Porches. Dedicated Garage Space Per Unit if Reconfigured. Walker's Paradise to Broadway, Shops, Restaurants, Parks, Yoga, Gyms and Retail. Close Proximity to Downtown and Wash Park with Easy Access to Major Thoroughfares. Multiple Investment Opportunities for this Vintage Charmer.

Delaware Parcel Split Valuation (24-0919)

Income & Expenses 254-260 Delaware (24-0919)

Financial Summary (Pro forma - 2024)	Annual	Annual Per SF
Gross Rental Income	$115,200	$19.83
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$115,200	$19.83
Taxes	$7,645	$1.32
Operating Expenses	$11,060	$1.90
Total Expenses	$18,705	$3.22
Net Operating Income	$96,495	$16.61

Financial Summary (Pro forma - 2024)

Gross Rental Income
Annual	$115,200
Annual Per SF	$19.83

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$115,200
Annual Per SF	$19.83

Taxes
Annual	$7,645
Annual Per SF	$1.32

Operating Expenses
Annual	$11,060
Annual Per SF	$1.90

Total Expenses
Annual	$18,705
Annual Per SF	$3.22

Net Operating Income
Annual	$96,495
Annual Per SF	$16.61

Property Facts

Price	$1,725,000	Apartment Style	Low Rise
Price Per Unit	$431,250	Building Class	C
Sale Type	Investment	Lot Size	0.22 AC
Cap Rate	5.60%	Building Size	5,810 SF
Gross Rent Multiplier	19.69	Average Occupancy	75%
No. Units	4	No. Stories	2
Property Type	Multifamily	Year Built	1927
Property Subtype	Apartment	Parking Ratio	0.69/1,000 SF

Price	$1,725,000
Price Per Unit	$431,250
Sale Type	Investment
Cap Rate	5.60%
Gross Rent Multiplier	19.69
No. Units	4
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low Rise
Building Class	C
Lot Size	0.22 AC
Building Size	5,810 SF
Average Occupancy	75%
No. Stories	2
Year Built	1927
Parking Ratio	0.69/1,000 SF

Unit Amenities

Dishwasher
Fireplace
Storage Space
Washer/Dryer Hookup
Ceiling Fans
Eat-in Kitchen

Kitchen
Hardwood Floors
Refrigerator
Range
Tub/Shower

Yard
Basement
Breakfast Nook
Dining Room
Lawn

Mud Room
Patio
Porch
Recreation Room
Skylights

Site Amenities

Fenced Lot
Laundry Facilities

Recycling
Trash Pickup - Curbside

Vintage Building
Storage Space

Composting

Links

1 of 1

Walk Score ®

Walker's Paradise (90)

Bike Score ®

Very Bikeable (85)

What is a Walk Score®, Transit Score® & Bike Score®?

Walk Score® measures the walkability of any address.

Transit Score® measures access to public transit.

Bike Score® measures bikeability of a location.

What is a Walk Score®

, Transit Score® & Bike Score?

Walk Score® measures the walkability

of any address. Transit Score®

measures access to public transit. Bike Score®

measures bikeability of a location.®

Learn How It Works Detailed Scores

zoning

Zoning Code	U-RH-2.5 (Multi unit district allows up to 2.5 story row house building. Also, allows urban house, detached accessory dwelling, duplex and tandem house.)
U-RH-2.5 (Multi unit district allows up to 2.5 story row house building. Also, allows urban house, detached accessory dwelling, duplex and tandem house.)