Saint Clair Place Apartments | 4510 W Saint Clair Pl
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Saint Clair Place Apartments 4510 W Saint Clair Pl
42 Unit Apartment Building $7,750,000 ($184,524/Unit) 5.70% Cap Rate Denver, CO 80212
Investment Highlights
- Profound value-add opportunity via modernizing and updating units for increased returns
- Situated on a massive 2.66-acre lot with a large vacant portion on the west side of the parcel for potential future development
- Affordable Denver city living tucked on a quiet cul-de-sac with a rural parklike setting
- Conveniently located eight blocks to Regis University, and close to some of the top neighborhoods, parks and lakes that Denver has to offer
- Low-maintenance exterior walk-up construction in great condition with ample parking
Executive Summary
Saint Clair Place Apartments is a 42-unit apartment building built in 1973 conveniently located in Northwest Denver. The all-brick, exterior walk-up building features thirty-four one-bed/one-bath units, eight two-bed/one-bath units, and an impressive 60 parking spaces onsite. Only three units have been significantly updated; twenty units have stainless steel appliances, and the remaining units have been well maintained over the past few ownership groups. The property features oversized living and dining rooms, large bedrooms, two separate onsite laundry facilities, elevator access, as well as a beautiful central courtyard with picnic tables, grills, and bench seating. The property also includes a large open area on the west portion of the parcel that could be developed with additional units.
Data Room Click Here to Access
- Offering Memorandum
Financial Summary (Actual - 2023) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| 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 | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| 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 | $7,750,000 | Apartment Style | Low Rise |
| Price Per Unit | $184,524 | Building Class | C |
| Sale Type | Investment | Lot Size | 3.87 AC |
| Cap Rate | 5.70% | Building Size | 28,728 SF |
| No. Units | 42 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1973/2018 |
| Property Subtype | Apartment | Parking Ratio | 2.09/1,000 SF |
| Price | $7,750,000 |
| Price Per Unit | $184,524 |
| Sale Type | Investment |
| Cap Rate | 5.70% |
| No. Units | 42 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 3.87 AC |
| Building Size | 28,728 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1973/2018 |
| Parking Ratio | 2.09/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Disposal
- Heating
- Ceiling Fans
- Kitchen
- High Speed Internet Access
- Refrigerator
- Oven
- Range
- Tub/Shower
- Grill
- Window Coverings
Site Amenities
- Courtyard
- Fenced Lot
- Laundry Facilities
- Elevator
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 34 | $1,275 | 600 - 680 |
| 2+1 | 8 | $1,600 | 800 |
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PROPERTY TAXES
| Parcel Number | 1825-18-2-01-006 | Improvements Assessment | $445,920 |
| Land Assessment | $68,420 | Total Assessment | $514,340 |
PROPERTY TAXES
Parcel Number
1825-18-2-01-006
Land Assessment
$68,420
Improvements Assessment
$445,920
Total Assessment
$514,340
zoning
| Zoning Code | R3 |
| R3 |
Contacts
-
Robert Lawson -
Luke Salazar -
Jim Knowlton -
Jennifer King -
Pinnacle Real Estate Advisors
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Saint Clair Place Apartments | 4510 W Saint Clair Pl
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