54 Pennsylvania St
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54 Pennsylvania St
8 Unit Apartment Building $1,375,000 ($171,875/Unit) 6.59% Cap Rate Denver, CO 80209
Investment Highlights
- Value-Add Apartment Building with Carriage House
- Walking Distance to Local Retail and Restaurants on South Pennsylvania Street and South Broadway
- Located in the Speer Neighborhood Just North of Washington Park
- Future Development opportunity with G-MU-3 Zoning
Executive Summary
This vintage Victorian style mansion with a two story carriage house in the highly coveted West Washington Park Neighborhood is being offered for sale for the first time in 30 years. The property consists of 5 unique 1BR/1BA units, 2 boarding rooms, and a spacious 1BR/1.5BA unit on the first floor of the main house. 54 South Pennsylvania Street offers an investor a wide range of opportunities to create their own masterpiece. Zoned G-MU-3 on a 6,250 SF Lot, this gives an investor an opportunity to redevelop the site or renovate a piece of history. Located just steps away from local restaurants and night life like Carmines on Penn, Rise and Shine, Uncle, and The Spot situated on South Pennsylvania Street. The carriage house had a new roof put on in 2018 while the main house had a complete remodel of the interior hallways in 2019.
Financial Summary (Pro forma - 2024) 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 | $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 | $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 | $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 | $1,375,000 | Apartment Style | Low Rise |
Price Per Unit | $171,875 | Building Class | C |
Sale Type | Investment | Lot Size | 0.14 AC |
Cap Rate | 6.59% | Building Size | 4,195 SF |
No. Units | 8 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1890 |
Property Subtype | Apartment |
Price | $1,375,000 |
Price Per Unit | $171,875 |
Sale Type | Investment |
Cap Rate | 6.59% |
No. Units | 8 |
Property Type | Multifamily |
Property Subtype | Apartment |
Apartment Style | Low Rise |
Building Class | C |
Lot Size | 0.14 AC |
Building Size | 4,195 SF |
No. Stories | 2 |
Year Built | 1890 |
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
1+1 | 4 | - | 475 - 500 |
1+1.5 | 1 | - | 825 |
2+1 | 1 | - | 950 |
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Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (95)
PROPERTY TAXES
Parcel Number | 5104-14-010 | Total Assessment | $75,150 (2023) |
Land Assessment | $61,680 (2023) | Annual Taxes | ($1) ($0.00/SF) |
Improvements Assessment | $13,470 (2023) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5104-14-010
Land Assessment
$61,680 (2023)
Improvements Assessment
$13,470 (2023)
Total Assessment
$75,150 (2023)
Annual Taxes
($1) ($0.00/SF)
Tax Year
2024
zoning
Zoning Code | G-MU-3 |
G-MU-3 |
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54 Pennsylvania St
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