651 29th St - Apartments FOR SALE


Denver, CO 80205- Five Points
$3,085,000 USD
303-909-2900
651 29th St, Denver, CO for Sale
$3,085,000 USD
Apartments - FOR SALE
1/39
null | 4.02% Cap Rate

651 29th St
Denver, CO 80205
Five Points


HIGHLIGHTS

  • Assumable 2.99% Freddie Mac Loan!
  • Offers spacious one- and two-bedroom floorplans combining vintage 1959 architecture with modern updates.
  • Select units feature stainless steel appliances, wood-style flooring, modern lighting, and French-door refrigerators.
  • Community amenities include on-site laundry and uncovered parking (subject to availability).
  • Prime location with convenient access to local cafés, music venues, RiNo Arts District, Curtis Park, and multiple public transit options.
  • Residents enjoy scenic views of both the mountains and the city.

OVERVIEW

MODUS Commercial Real Estate is pleased to present The Points at California 29, a 14-unit multifamily investment opportunity in Denver's historic Five Points neighborhood with a mid-century-modern design motif. The property has undergone a comprehensive capital improvement program, including a full HVAC replacement across all 14 units, a renovated laundry room, repaved and restriped parking, and rebuilt exterior walkways, stairwells, and railings, substantially reducing near-term capital exposure for a new owner. A defining feature of this offering is an assumable Freddie Mac loan with a $1,750,000 balance fixed at 2.99% through August 2027, providing a qualified buyer with below market financing that is difficult to replicate in today's rate environment. Professionally managed by Cornerstone and stabilized. Positioned within walking distance of RiNo, Larimer Street, Coors Field, and Downtown Denver, the asset pairs strong, transit-served urban demand with a clear value-add path: nearly half of the units have already been fully remodeled, with additional rent upside available as remaining leases turn.

FOR SALE DETAILS

PRICE

$3,085,000 USD

PRICE/SF

$267 USD /SF

# OF UNITS

14

PRICE/UNIT

$220,357

CAP RATE

4.02%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

The Points at California 29

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

3

YEAR BUILT

1959

PARKING SPACES

14

LAND DETAILS

LAND ACRES

0.21 AC

LAND SF

9,316 SF

ZONING

G-RH-3

APN/PARCEL ID

2276-14-011

ASK ABOUT THIS PROPERTY

Nik MacCarterMODUS Real EstateMore Info
303-909-2900

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

Nik MacCarterMODUS Real EstateMore Info
303-909-2900

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