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6205 E Ohio Ave

3 Unit Apartment Building $999,000 ($333,000/Unit) 6.44% Cap Rate Denver, CO 80224

Investment Highlights

  • Lease Option
  • Will Trade
  • Owner Carry

Executive Summary

HOUSE HACK with OWNER FINANCING or BETTER yet, LEASE with OPTION TO BUY. LIVE IN ONE UNIT, RENT THE OTHERS!!
This well-maintained three-unit property really has a lot going for it. It’s in a great location, walkable to the grocery store, shopping center, restaurants and salons, close to the Cherry Creek Trail and Garland Park. In addition to the three rental unit’s there are two 10 x 10 sheds and 3 garage spaces.
Unit Mix:
(Unit A) Three bedroom / two full bathroom with 1 car garage and 1 space carport.
(Unit B) Two-bedroom / one-bath.
(Unit C) Two-bedroom / one-bath.
(Garage Unit) Attached two car garage.
(Two) 8 x 10 Sheds
The 3 bed / 2 bath (Unit A) is the largest just under 1500 sq ft, renovated in 2022, features hardwood floors, newer kitchen, appliances, paint, lights and offers a small fenced in yard perfect for summer BBQ’s. You’ll be surprised at how large the unit feels with this open layout. Attached to this unit is a 1 car garage and carport allowing for flexible parking/storage options. View it here @ tinyurl.com/6205Ohio
The up/down Duplex (Units B and C) are on the East side of the property both are 2bed / 1 bath approximately 950 sqft. The lower unit (C) is currently being renovated and is available for showings. There are 4 off-street parking spaces in front of the units.
In addition to these 3 rental units, is a standard 2 car Garage which is leased and two 8 x 10 sheds are on the east side of the property.
The units are individually metered for electric and natural gas, master metered for water, and sewer. The building has been repainted in the last 3 years. The landscaping and exterior is simple and requires low maintenance. This property is located in a solid south Denver sub-market with low vacancy.
Financing Terms: A minimum downpayment of 10% and Owner Carry starting at 8.25%. Flexible loan terms allow for amortization over 20 to 50 years (this is totally up to you), allowing you to adjust according to your financial preferences. Interest Only terms also available.
Please contact Adam Cole 720-985-4044 at AdamCole@Realtor.com for rent roll and financials.

Financial Summary (Actual - 2023) Click Here to Access

Annual Annual Per SF
Gross Rental Income $99,999 $9.99
Other Income - -
Vacancy Loss - -
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 (Actual - 2023) Click Here to Access

Gross Rental Income
Annual $99,999
Annual Per SF $9.99
Other Income
Annual -
Annual Per SF -
Vacancy Loss
Annual -
Annual Per SF -
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 $999,000
Price Per Unit $333,000
Sale Type Investment
Cap Rate 6.44%
Sale Conditions
1031 Exchange
  • Lease Option
No. Units 3
Property Type Multifamily
Property Subtype Apartment
Apartment Style Townhome
Building Class B
Lot Size 0.18 AC
Building Size 3,322 SF
No. Stories 1
Year Built/Renovated 1973/2022
Parking Ratio 2.41/1,000 SF

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Dishwasher
  • Disposal
  • Washer/Dryer
  • Ceiling Fans
  • Eat-in Kitchen
  • Granite Countertops
  • Hardwood Floors
  • Tub/Shower
  • Carpet
  • Double Pane Windows
  • Garden
  • Vinyl Flooring

Site Amenities

  • Public Transportation

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 $1,795 950
3+2 1 $2,590 1,422
Bike Score ®
Very Bikeable (86)
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.®

zoning

Zoning Code S-RH-2.5 (Allowing for Row Houses 2.5 Stories tall)
S-RH-2.5 (Allowing for Row Houses 2.5 Stories tall)
  • Listing ID: 33475693

  • Date on Market: 10/10/2024

  • Last Updated:

  • Address: 6205 E Ohio Ave, Denver, CO 80224

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