$1,225,000

Quadruplex In Denver

  • 3,844 Sqft
  • Updated: October 2
  • Source:
    REcolorado  MLS#2104014

About the Property

3251-3263 Olive St. is an attractive 6-unit apartment building located in the Park Hill neighborhood of Denver. The building features (5) 2Bd/1Ba and (1) 3Bd/1Ba units situated in a side-by-side layout which is always preferred by both tenants and investors. The property is currently 100% occupied with proven stability of income. This listing boasts a current 6.8% cap rate on real income and expen
3251-3263 Olive St. is an attractive 6-unit apartment building located in the Park Hill neighborhood of Denver. The building features (5) 2Bd/1Ba and (1) 3Bd/1Ba units situated in a side-by-side layout which is always preferred by both tenants and investors. The property is currently 100% occupied with proven stability of income. This listing boasts a current 6.8% cap rate on real income and expenses. With modest rent increases, investors can improve this to a 7.3% cap rate.

Current ownership completed a full overhaul of the property in 2016 including a new roof, full electrical upgrade, new plumbing throughout, new furnaces, in-unit laundry, and full unit remodels. All units have their own gas (separate furnaces) and electric meters which reduce ownership expenses. Tenants enjoy access to their private laundry, 7 parking spaces for the 6 units, and 4 of the units having access to fenced in back yards. For the right investor, this is a high cash flowing deal with no deferred maintenance in a great neighborhood of Denver.

Highlights:

Full property renovation in 2016 including new: roof, full electrical upgrade, furnaces, in-unit laundry, plumbing throughout, and full unit remodels
Premium 2bedroom and 3bedroom floor plans with in-unit laundry
Separately metered for both gas and electric which tenants pay directly
High returns on day 1 of ownership - 6.8% cap rate!
Attractive Park Hill location
…
  • Property type

    Other

  • Year built

    1955

  • Price/sqft

    $318

Features

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3251-3263 Olive Street, Denver, Colorado, United States View on Google Maps
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NorthPeak Commercial Advisors, LLC - DENVER

Joined 8 months ago
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NorthPeak Commercial Advisors, LLC - DENVER
Colorado, United States
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3
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2026
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NorthPeak Commercial Advisors, LLC - DENVER
DENVER, Colorado, United States
View agency profile
Last updated
October 2
First listed
October 2
Listing reference
2104014
Listing status
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