4489 Grant St - 4489 Grant St
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4489 Grant St - 4489 Grant St
3 Unit Apartment Building Offered at $700,000 at a 5.15% Cap Rate in Denver, CO 80216
Investment Highlights
- Development Potential with Mixed Use Zoning
- 6 Off-Street Parking Spaces
- Fully Leased
Executive Summary
Introducing an exceptional investment opportunity in Denver, Colorado - 4489 Grant Street. This historic 2,566 SF multi-use building, offers three spacious units in mixed used E-MX-2 zoning. Priced at $700,000 with an as-is 5.15% Cap Rate and first year Cap rate at 6.68% this property presents compelling potential for multifamily or high-rise investors looking to capitalize on Denver's growing market. With concept plans in place, this property provides development opportunities in a prime location. Surrounded by a robust demographic with an average household income of $114,004 within a 1-mile radius, this property is a promising investment. For those seeking a strategic move in the bustling Denver real estate market, 4489 Grant Street stands as a promising venture in a thriving community.
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$64,200
|
$25.02
|
| Other Income |
$8,000
|
$3.12
|
| Vacancy Loss |
$3,210
|
$1.25
|
| Effective Gross Income |
$68,990
|
$26.89
|
| Taxes |
$2,351
|
$0.92
|
| Operating Expenses |
$19,882
|
$7.75
|
| Total Expenses |
$22,233
|
$8.66
|
| Net Operating Income |
$46,757
|
$18.22
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $64,200 |
| Annual Per SF | $25.02 |
| Other Income | |
|---|---|
| Annual | $8,000 |
| Annual Per SF | $3.12 |
| Vacancy Loss | |
|---|---|
| Annual | $3,210 |
| Annual Per SF | $1.25 |
| Effective Gross Income | |
|---|---|
| Annual | $68,990 |
| Annual Per SF | $26.89 |
| Taxes | |
|---|---|
| Annual | $2,351 |
| Annual Per SF | $0.92 |
| Operating Expenses | |
|---|---|
| Annual | $19,882 |
| Annual Per SF | $7.75 |
| Total Expenses | |
|---|---|
| Annual | $22,233 |
| Annual Per SF | $8.66 |
| Net Operating Income | |
|---|---|
| Annual | $46,757 |
| Annual Per SF | $18.22 |
Property Facts
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 2 | $1,830 | - |
| 1+1 | 1 | $1,435 | - |
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Bike Score ®
Very Bikeable (86)
PROPERTY TAXES
| Parcel Number | 2221-33-029 | Total Assessment | $29,460 (2023) |
| Land Assessment | $21,440 (2023) | Annual Taxes | $2,351 ($0.92/SF) |
| Improvements Assessment | $8,020 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
2221-33-029
Land Assessment
$21,440 (2023)
Improvements Assessment
$8,020 (2023)
Total Assessment
$29,460 (2023)
Annual Taxes
$2,351 ($0.92/SF)
Tax Year
2024
zoning
| Zoning Code | E-MX-2 (Mixed use zoning perfect for development projects.) |
| E-MX-2 (Mixed use zoning perfect for development projects.) |
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4489 Grant St - 4489 Grant St
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