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Highland Park Flats 3257 Irving St 6 Unit Apartment Building $2,700,000 ($450,000/Unit) 5.72% Cap Rate Denver, CO 80211
INVESTMENT HIGHLIGHTS
- Rare Condo Conversion Opportunity
- Recent Capital Improvements Include New Roof, New Electrical Panels, New Plumbing, Renovated Units, and Exterior Renovations
- Individually Metered for Gas & Electric
- Highly Desirable Location Near 32nd in West Highlands Neighborhood
- Single Story Side-by-Side Units with Basements, Individuals Front Yards, and Private, Fenced Backyards
- In-Unit Washers and Dryers
EXECUTIVE SUMMARY
3257 N Irving Street is a well-located 6-Unit Property steps away from 32nd Ave retail, parks, and the library. These six well-maintained vintage townhomes feature a diverse range of one, two, and three-bedroom units that could be a fantastic condo conversion opportunity. All units live like single family homes with front and rear entrances, front patios and back decks.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$193,200
|
$30.67
|
| Other Income |
$807
|
$0.13
|
| Vacancy Loss |
$9,700
|
$1.54
|
| Effective Gross Income |
$184,307
|
$29.26
|
| Taxes |
$8,293
|
$1.32
|
| Operating Expenses |
$21,675
|
$3.44
|
| Total Expenses |
$29,968
|
$4.76
|
| Net Operating Income |
$154,339
|
$24.50
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $193,200 |
| Annual Per SF | $30.67 |
| Other Income | |
|---|---|
| Annual | $807 |
| Annual Per SF | $0.13 |
| Vacancy Loss | |
|---|---|
| Annual | $9,700 |
| Annual Per SF | $1.54 |
| Effective Gross Income | |
|---|---|
| Annual | $184,307 |
| Annual Per SF | $29.26 |
| Taxes | |
|---|---|
| Annual | $8,293 |
| Annual Per SF | $1.32 |
| Operating Expenses | |
|---|---|
| Annual | $21,675 |
| Annual Per SF | $3.44 |
| Total Expenses | |
|---|---|
| Annual | $29,968 |
| Annual Per SF | $4.76 |
| Net Operating Income | |
|---|---|
| Annual | $154,339 |
| Annual Per SF | $24.50 |
PROPERTY FACTS
| Price | $2,700,000 | Apartment Style | Garden |
| Price Per Unit | $450,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 5.72% | Building Size | 6,300 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment |
| Price | $2,700,000 |
| Price Per Unit | $450,000 |
| Sale Type | Investment |
| Cap Rate | 5.72% |
| No. Units | 6 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 0.26 AC |
| Building Size | 6,300 SF |
| No. Stories | 1 |
| Year Built | 1914 |
UNIT AMENITIES
- Air Conditioning
- Fireplace
- Kitchen
- Hardwood Floors
- Refrigerator
- Oven
- Range
- Basement
- Lawn
- Porch
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 2 | $2,288 | - |
| 2+1 | 3 | $2,800 | - |
| 3+2 | 1 | $3,500 | - |
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Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 2292-27-020 | Total Assessment | $107,020 (2023) |
| Land Assessment | $56,880 (2023) | Annual Taxes | $8,293 ($1.32/SF) |
| Improvements Assessment | $50,140 (2023) | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
2292-27-020
Land Assessment
$56,880 (2023)
Improvements Assessment
$50,140 (2023)
Total Assessment
$107,020 (2023)
Annual Taxes
$8,293 ($1.32/SF)
Tax Year
2024 Payable 2024
ZONING
| Zoning Code | U-SU-A |
| U-SU-A |
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Highland Park Flats | 3257 Irving St
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