551 S Fairfax St - Apartments FOR SALE


Denver, CO 80246- Washington Virginia Vale
$2,900,000 USD
303-903-9638
551 S Fairfax St, Denver, CO for Sale
$2,900,000 USD
Apartments - FOR SALE
1/18
null | 5.67% Cap Rate

551 S Fairfax St
Denver, CO 80246
Washington Virginia Vale


HIGHLIGHTS

  • Attractive Seller financing at 71% LTV and 4% interest
  • Proven value add strategy; proforma rents already being achieved!
  • Extensive recent updates including roof, boiler, electrical, windows, parking lot, exterior paint, landscaping, and more
  • Subject property falls into Arapahoe County, City of Glendale, & highly desirable Cherry Creek School District
  • Desirable location easily accessible to shopping/ dining in Cherry Creek; directly adjacent to renovated Glendale park with pickleball courts
  • Premium rooftop unit with private patio

OVERVIEW

551 S Fairfax St. is a unique value add opportunity with proven upside in a desirable location. The building is a diverse mix of (2) premium studios, (6) one beds, and (5) two beds. There have been extensive updates to major systems including roof, boiler, electrical, windows, and more (see Page 5). The subject property falls into Arapahoe County, City of Glendale, & highly desirable Cherry Creek School District. Tenants enjoy the recently renovated Glendale Park with pickleball courts directly adjacent to the property as well as nearby shopping and dining in Cherry Creek. This deal has attractive Seller financing available with 71% LTV and 4% interest. In addition, there are a few renovated units that prove a path to value add. For the right investor, this is a great opportunity to buy a well located deal with strong in place cash flow and proven upside potential.

FOR SALE DETAILS

PRICE

$2,900,000 USD

PRICE/SF

$273 USD /SF

# OF UNITS

13

PRICE/UNIT

$223,077

CAP RATE

5.67%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1961

PARKING SPACES

15

LAND DETAILS

LAND ACRES

0.16 AC

LAND SF

6,795 SF

ZONING

R-3, Denver

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Jack ShermanNorthPeak Commercial AdvisorsMore Info
303-903-9638

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

Jack ShermanNorthPeak Commercial AdvisorsMore Info
303-903-9638

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