Active
3203 Albion Street
Denver CO, 80207
$2,350,000
$424.57 per sqft
Active
5,535 sqft
Commercial
Built in 1939
100% REMODELED/REBUILT 6 unit Legacy Multi-Fam in Park Hill. Take advantage of this property Being in an Opportunity Zone to avoid Cap Gains in a turn key completely Rehabbed property that will have no maintainance issues for a VERY long time. EVERYTHING has been replaced. HONEST 5.6 Cap Rate includes Operating Expenses, 3% Vacancy AND Management. ALL units are 100% electrified , Natural gas is available but not being used. Completely New Electric wiring and Electric Service, New HVAC in each unit with Central Air, ALL new plumbing supply lines and Drain lines, New Main Sewer Line and New Tap, New Roof on the House, Roof over garage is recent with 5 year cert, All new windows, doors, flooring, kitchen and bath finishes. New Sprinkler System in the front yard. Garage has new man doors and new garage doors with openers. All new fencing on the property. Each unit is set up so that it has its own garage and a fenced in private back yard. The 1 bed units have mulch in the back yard and the 2 larger 3 bed units have larger fenced in back yards with new hydroseed. Currently the property is vacant and the Parcel is in the process of being split but that could be put on hold for the future to keep taxes low. Cap Rate is based on Estimated Rents of $1,850 per 1 bed unit and $3,000 for the 3 bed units. These would be great rentals for CU Med students, young professionals wanted affordable but High End rentals in close proximity to downtown or the east side of town. This property is in an opportunity zone and since it has been completely overhauled it would make a perfect property to 1031 exchange into and avoid massive taxes. See the website here for more info: https://oedit.colorado.gov/colorado-opportunity-zone-program.
7444077
MLSⓇ ID
September 15, 2024
Listed
November 25, 2024
Updated
Map
3203 Albion Street
Denver CO, 80207
Interior Features
Fireplace
No
Cooling
No
Heating
No
Exterior/Building Features
Lot Size
0.43 Acres
Exterior Features
Dog Run
Lot Features
Corner Lot, Irrigated, Landscaped, Near Public Transit, Sprinklers In Front
Architectual Style
Traditional
Roof
Architecural Shingle
Sewer
Public Sewer
Other Property Details
Taxes
$8,414
Tax Frequency
Annually
Garage
Yes
Garage Spaces
6
Parking
Asphalt, Exterior Access Door, Lighted
Parking Total
6
View
No
County
Denver
Pool
No
Zoning
E-SU-DX
Listing History
Date | Event | Price |
|---|---|---|
10/18/2024 | Price change | $2,350,000 -3% |
9/27/2024 | Price change | $2,400,000 -4% |
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Data last updated 7:34 PM UTC, 11/25/2024
