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3530 W Lehigh Ave

9 Unit Apartment Building $2,100,000 ($233,333/Unit) 6.50% Cap Rate Denver, CO 80236

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Investment Highlights

- Renovated 2020; New sewer line, New electrical and plumbing, New monitored fire sprinklers; 3.36% assumable loan, 100% occupancy since 2020

Executive Summary

Attention savvy investors! Presenting a rare opportunity to acquire a meticulously remodeled multi-family building with nine units. This property boasts a prime location and impeccable features designed to maximize returns and tenant satisfaction. Each unit has been tastefully renovated, offering a mix of three 2-bedroom units and six 1-bedroom units. The remodel in 2020 ensured modern living standards with brand new kitchens featuring new cabinets, stainless steel appliances, and granite countertops. Updated bathrooms, new flooring, in-unit washer and dryer and wall-mounted A/C units enhance comfort and appeal. Plus, one unit features handicap ramp access, ensuring inclusivity and compliance with accessibility standards. Investors will appreciate the added value of recent upgrades including new fire sprinklers with monitoring, new plumbing, new electrical system and new sewer line. The property is equipped with a bike rack and provides ample parking with nine dedicated spots, plus street parking for tenants. With a remarkable 100% occupancy rate since September 2020, this investment promises steady cash flow. Tenants enjoy the convenience of nearby public transportation, with the Light rail just 5 minutes away and a bus stop a mere 1 minute stroll. Additionally, the River Point shopping center is only 5 minutes away, adding to the property's desirability. With a current rental license up to date and a desirable assumable loan at a competitive rate of 3.36% through March 2031, this property offers a turnkey solution for investors seeking a reliable income stream in the commercial housing market. Act now to seize this exceptional opportunity and elevate your investment portfolio! Schedule your viewing today.

Financial Summary (Actual - 2023)	Annual	Annual Per SF
Gross Rental Income	$152,000	$15.64
Other Income	-	-
Vacancy Loss	-	-
Effective Gross Income	$152,000	$15.64
Taxes	-	-
Operating Expenses	-	-
Total Expenses	$36,900	$3.80
Net Operating Income	$115,100	$11.84

Financial Summary (Actual - 2023)

Gross Rental Income
Annual	$152,000
Annual Per SF	$15.64

Other Income
Annual	-
Annual Per SF	-

Vacancy Loss
Annual	-
Annual Per SF	-

Effective Gross Income
Annual	$152,000
Annual Per SF	$15.64

Taxes
Annual	-
Annual Per SF	-

Operating Expenses
Annual	-
Annual Per SF	-

Total Expenses
Annual	$36,900
Annual Per SF	$3.80

Net Operating Income
Annual	$115,100
Annual Per SF	$11.84

Property Facts

Price	$2,100,000	Building Class	C
Price Per Unit	$233,333	Lot Size	0.25 AC
Sale Type	Investment	Building Size	9,720 SF
Cap Rate	6.50%	Average Occupancy	100%
No. Units	9	No. Stories	3
Property Type	Multifamily	Year Built/Renovated	1972/2020
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory	Parking Ratio	1.23/1,000 SF
Apartment Style	Low Rise	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.

Price	$2,100,000
Price Per Unit	$233,333
Sale Type	Investment
Cap Rate	6.50%
No. Units	9
Property Type	Multifamily
Property Subtype	Apartment Multifamily Manufactured Housing Mobile Home Park Multifamily Dormitory
Apartment Style	Low Rise
Building Class	C
Lot Size	0.25 AC
Building Size	9,720 SF
Average Occupancy	100%
No. Stories	3
Year Built/Renovated	1972/2020
Parking Ratio	1.23/1,000 SF
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.