2940 W Arkansas Ave - Apartments FOR SALE


Denver, CO 80219- Ruby Hill
$3,600,000 USD
303-962-9543
2940 W Arkansas Ave, Denver, CO for Sale
$3,600,000 USD
Apartments - FOR SALE
1/29
null | 7.09% Cap Rate

2940 W Arkansas Ave
Denver, CO 80219
Ruby Hill


HIGHLIGHTS

  • 7% CAP RATE ON ACTUAL NUMBERS, 9.5% CASH ON CASH RETURN
  • (19) 2BR/1BA & (1) 3BR/2BA UNITS
  • NEW BOILER; UPDATED WINDOWS; NEWER ROOF
  • NEW PARKING LOT ASPHALT RESURFACING
  • ALL ELECTRIC PANELS REPLACED
  • 50% OF THE UNITS HAVE BEEN FULLY RENOVATED WITH NEW FLOORING, CABINETS, COUNTERTOPS, APPLIANCES, AND FULL BATHROOM REMODELS

OVERVIEW

Ponderosa Apartments represents a quality multifamily investment opportunity situated within a high-demand, transit-oriented Denver submarket. The property distinguishes itself by offering an exceptional 7% CAP rate based on actual trailing 12 month numbers. Recent capital improvements include the installation of a new boiler system, a full electrical upgrade with the replacement of all electrical panels, and the professional resurfacing of the asphalt parking lot.

FOR SALE DETAILS

PRICE

$3,600,000 USD

PRICE/SF

$195 USD /SF

# OF UNITS

20

PRICE/UNIT

$180,000

CAP RATE

7.09%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Ponderosa Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1961

PARKING SPACES

40

LAND DETAILS

LAND ACRES

0.94 AC

LAND SF

40,729 SF

ZONING

-

APN/PARCEL ID

5201-12-002

ASK ABOUT THIS PROPERTY

Jim KnowltonPinnacle Real Estate AdvisorsMore Info
303-962-9543

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Jim KnowltonPinnacle Real Estate AdvisorsMore Info
303-962-9543

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.