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Highland Park Flats 3257 Irving St 6 Unit Apartment Building $2,550,000 ($425,000/Unit) 6.14% Cap Rate Denver, CO 80211
INVESTMENT HIGHLIGHTS
- Rare Condo Conversion Opportunity
- Highly Desirable Location Near 32nd in West Highlands Neighborhood
- All Units Live Like Single Family Homes with Basements, Washer/Dryers, Individual Front Yards, and Private, Fenced Backyards
- 6.14% Current CAP Rate!
- Recent Capital Improvements Include New Roof, New Electrical Panels, New Plumbing, Renovated Units, and Exterior Renovations
- Individually Metered for Gas & Electric
EXECUTIVE SUMMARY
PRICE REDUCED! 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 |
$195,600
|
$31.05
|
| Other Income |
$807
|
$0.13
|
| Vacancy Loss |
$9,820
|
$1.56
|
| Effective Gross Income |
$186,587
|
$29.62
|
| Taxes |
$8,293
|
$1.32
|
| Operating Expenses |
$21,675
|
$3.44
|
| Total Expenses |
$29,968
|
$4.76
|
| Net Operating Income |
$156,619
|
$24.86
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $195,600 |
| Annual Per SF | $31.05 |
| Other Income | |
|---|---|
| Annual | $807 |
| Annual Per SF | $0.13 |
| Vacancy Loss | |
|---|---|
| Annual | $9,820 |
| Annual Per SF | $1.56 |
| Effective Gross Income | |
|---|---|
| Annual | $186,587 |
| Annual Per SF | $29.62 |
| 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 | $156,619 |
| Annual Per SF | $24.86 |
PROPERTY FACTS
| Price | $2,550,000 | Apartment Style | Garden |
| Price Per Unit | $425,000 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.26 AC |
| Cap Rate | 6.14% | Building Size | 6,300 SF |
| No. Units | 6 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1914 |
| Property Subtype | Apartment | ||
| Zoning | U-SU-A | ||
| Price | $2,550,000 |
| Price Per Unit | $425,000 |
| Sale Type | Investment |
| Cap Rate | 6.14% |
| 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 |
| Zoning | U-SU-A |
AMENITIES
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 | $3,400 | - |
Walk Score®
Walker's Paradise (93)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 2292-27-020 | Total Assessment | $107,020 |
| Land Assessment | $56,880 | Annual Taxes | $8,293 ($1.32/SF) |
| Improvements Assessment | $50,140 | Tax Year | 2024 Payable 2024 |
PROPERTY TAXES
Parcel Number
2292-27-020
Land Assessment
$56,880
Improvements Assessment
$50,140
Total Assessment
$107,020
Annual Taxes
$8,293 ($1.32/SF)
Tax Year
2024 Payable 2024
MAP
ADDITIONAL PHOTOS
3257 Irving Street - Front 2
3257 Irving Street - Front 3
3257 Irving Street - Dining
3257 Irving Street - Dining 2
3257 Irving Street - Kitchen
3257 Irving Street - Living
3257 Irving Street - Living 2
3257 Irving Street - Living 3
3257 Irving Street - Bathroom
3257 Irving Street - Bathroom 2
3257 Irving Street - Bathroom 3
3257 Irving Street - Patio