thank you
Your email has been sent!
403 23rd St 11 Unit Apartment Building $2,750,000 ($250,000/Unit) 5.69% Cap Rate Golden, CO 80401
INVESTMENT HIGHLIGHTS
- 5 – Plex, 4 – Plex, Duplex for sale
- New roofs (2018); All units have been updated (6 have been fully renovated)
- Low vacancy and low turnover with many long term tenants
- Assumable financing available at 4.2% for another 6 years
- Located one block from Natural Grocers and a 10 minute walk to the School of Mines campus
- 1.5 Miles from the new Coors Redevelopment Project at Clayworks
EXECUTIVE SUMMARY
403 23rd Street in Golden, CO is an 11-unit apartment community, comprised of three buildings on one 26,250 square foot parcel. There are (3) 2 bedroom/1 bath units, and (8) 1 bedroom/1 bath units. The property is fully occupied, maintains a near zero vacancy annually, and has very low turnover. It is an easy-going community, mostly comprised of young professionals who work in Golden and a few students from the Colorado School of Mines. The property is located just 1.5 miles from the Coors redevelopment project at Clayworks, which will bring 1.2 million square feet of new office, residential, hotel and retail space to a five-block district.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$226,440
|
$36.41
|
| Other Income |
$2,600
|
$0.42
|
| Vacancy Loss |
$6,793
|
$1.09
|
| Effective Gross Income |
$222,247
|
$35.73
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$64,568
|
$10.38
|
| Net Operating Income |
$157,679
|
$25.35
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $226,440 |
| Annual Per SF | $36.41 |
| Other Income | |
|---|---|
| Annual | $2,600 |
| Annual Per SF | $0.42 |
| Vacancy Loss | |
|---|---|
| Annual | $6,793 |
| Annual Per SF | $1.09 |
| Effective Gross Income | |
|---|---|
| Annual | $222,247 |
| Annual Per SF | $35.73 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $64,568 |
| Annual Per SF | $10.38 |
| Net Operating Income | |
|---|---|
| Annual | $157,679 |
| Annual Per SF | $25.35 |
PROPERTY FACTS
| Price | $2,750,000 | Building Class | C |
| Price Per Unit | $250,000 | Lot Size | 0.60 AC |
| Sale Type | Investment | Building Size | 6,220 SF |
| Cap Rate | 5.69% | Average Occupancy | 100% |
| No. Units | 11 | No. Stories | 1 |
| Property Type | Multifamily | Year Built/Renovated | 1929/2018 |
| Property Subtype | Apartment | Parking Ratio | 3.86/1,000 SF |
| Apartment Style | Low-Rise | ||
| Zoning | R-1 | ||
| Price | $2,750,000 |
| Price Per Unit | $250,000 |
| Sale Type | Investment |
| Cap Rate | 5.69% |
| No. Units | 11 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.60 AC |
| Building Size | 6,220 SF |
| Average Occupancy | 100% |
| No. Stories | 1 |
| Year Built/Renovated | 1929/2018 |
| Parking Ratio | 3.86/1,000 SF |
| Zoning | R-1 |
AMENITIES
SITE AMENITIES
- Laundry Facilities
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 8 | - | 450 - 775 |
| 2+1 | 3 | - | 550 |
1 of 1
PROPERTY TAXES
| Parcel Number | 30-341-16-006 | Improvements Assessment | $95,392 (2024) |
| Land Assessment | $35,175 (2024) | Total Assessment | $130,567 (2024) |
PROPERTY TAXES
Parcel Number
30-341-16-006
Land Assessment
$35,175 (2024)
Improvements Assessment
$95,392 (2024)
Total Assessment
$130,567 (2024)
(303) 962-9543
x117
CONTACTS
-
Jim Knowlton -
Chris Knowlton -
Jennifer King -
Pinnacle Real Estate Advisors
1 of 29
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
1 of 1
Presented by
403 23rd St
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.