3203 Albion St
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3203 Albion St
6 Unit Apartment Building $2,400,000 ($400,000/Unit) 5.60% Cap Rate Denver, CO 80207
Investment Highlights
- 100% Remodel - all systems and finishes are new
- Located in Opportunity Zone - Central Location w/easy access to downtown and I70
- Side by side units - could be split off separately. Individual garages, yards, metered separately
Executive Summary
Completely Remodeled Turnkey multifamily building. Perfect opportunity to buy or exchange into this Essentially brand new building located in the Park Hill Opportunity Zone. Gutted and All systems are new, roof, sewer, windows, doors, everything is new. All units are metered separately 100% electrified building. All units have Private Garages and Fenced in Back yards. Large 18,700 sq foot lot. Unit mix is 4 - One Bedroom, One Bath Units and 2- Three Bed, 2 Bath Units. Location is prime for young professionals, med students etc. with easy access to Downtown and CU Anshutz campus. Perfect chance to buy and hold and save a lot of money on taxes by taking advantage of the Opportunity Zone designation. Property is also ready to be split with the county and can be sold as individual row-homes with a party wall agreement.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Pro forma - 2024) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro forma - 2024) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Operating Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $2,400,000 | Building Class | C |
| Price Per Unit | $400,000 | Lot Size | 0.43 AC |
| Sale Type | Investment | Building Size | 5,538 SF |
| Cap Rate | 5.60% | No. Stories | 1 |
| No. Units | 6 | Year Built/Renovated | 1939/2024 |
| Property Type | Multifamily | Parking Ratio | 1.08/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Townhome |
| Price | $2,400,000 |
| Price Per Unit | $400,000 |
| Sale Type | Investment |
| Cap Rate | 5.60% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Townhome |
| Building Class | C |
| Lot Size | 0.43 AC |
| Building Size | 5,538 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1939/2024 |
| Parking Ratio | 1.08/1,000 SF |
| Opportunity Zone |
Yes |
Amenities
- Smoke Detector
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Eat-in Kitchen
- Kitchen
- Granite Countertops
- Hardwood Floors
- Range
- Breakfast Nook
- Double Pane Windows
- Lawn
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 4 | $1,850 | 590 - 670 |
| 3+2 | 2 | $3,000 | 1,142 - 1,442 |
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Bike Score ®
Very Bikeable (79)
PROPERTY TAXES
| Parcel Number | 1302-08-007 | Total Assessment | $108,590 (2023) |
| Land Assessment | $26,420 (2023) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $82,170 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
1302-08-007
Land Assessment
$26,420 (2023)
Improvements Assessment
$82,170 (2023)
Total Assessment
$108,590 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
-
Aaron Graybill -
Goodhouse Real Estate LLC
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3203 Albion St
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