960 Grant St
Denver, CO 80203
Capitol Hill
HIGHLIGHTS
- SIGNIFICANTLY BELOW-MARKET, LONG-TERM ASSUMABLE DEBT: 78% LTV INTEREST ONLY FINANCING, FIXED AT 3.59%, WITH APPROXIMATELY FOUR YEARS REMAINING
- PROJECTED YEAR 1 CASH-ON-CASH RETURNS EXCEEDING 9.5%!
- IMMEDIATE OPERATIONAL UPSIDE THROUGH STREAMLINED MANAGEMENT AND EXPENSE EFFICIENCIES
- OVER $2,300,000 IN RECENT CAPITAL IMPROVEMENTS
- TURNKEY CORE DENVER ASSET: TROPHY PROPERTY IN A PREMIER INFILL LOCATION FUTURE
- FUTURE DEVELOPMENT POTENTIAL WITH SDP APPROVED FOR 48 UNITS AT 951 LOGAN
OVERVIEW
Turnkey 69-Unit High-Rise in Capitol Hill with Assumable Financing at 3.59%. Rare opportunity to acquire The Novelist, a premier 69-unit multifamily high-rise at 960 Grant Street, paired with a shovel-ready development site located at 951 Logan Street. This offering combines a stabilized, high-cash-flow historic asset with an entitled
growth engine in the heart of Denver’s vibrant Capitol Hill.
FOR SALE DETAILS
PRICE
$12,000,000 USD
PRICE/SF
$353 USD /SF
# OF UNITS
69
PRICE/UNIT
$173,913
CAP RATE
Request Cap Rate
% LEASED
94%
SALE TYPE
Investment
BUILDING DETAILS
PROPERTY NAME
The Novelist
PROPERTY TYPE
Multi-Family
APARTMENT STYLE
Mid-Rise
PROPERTY SUBTYPE
Apartments
TOTAL BUILDING SIZE
-
STORIES
10
YEAR BUILT
1937
PARKING SPACES
50
LAND DETAILS
LAND ACRES
0.35 AC
LAND SF
15,246 SF
ZONING
C-MX-8
APN/PARCEL ID
5038-14-020
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