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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
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
Walk Score®
Very Walkable (89)
Bike Score®
Biker's Paradise (95)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

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
  • Listing ID: 33226226

  • Date on Market: 9/18/2024

  • Last Updated:

  • Address: 54 Pennsylvania St, Denver, CO 80209

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