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Mayor Apartments 4720 E 8th Ave 12 Unit Apartment Building $2,295,000 ($191,250/Unit) 5.90% Cap Rate Denver, CO 80220
INVESTMENT HIGHLIGHTS
- New boiler; Upgraded electrical panels
- New key code entry system to both front and back doors
- Four blocks from 9+CO Redevelopment; Centrally located close to Rose Medical Center and Cherry Creek
- New double pain glass windows; New washer and dryer
- New hot water heater
- Close to a cluster of new development including restaurants, grocery stores, and retail stores
EXECUTIVE SUMMARY
Blocks from the 9+ CO redevelopment next to Rose Medical Center. Can be purchased separately or with 830 Dexter Street and 801 Dahlia Street.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$198,000
|
$30.03
|
| Other Income |
$19,849
|
$3.01
|
| Vacancy Loss |
$5,940
|
$0.90
|
| Effective Gross Income |
$211,909
|
$32.14
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$58,590
|
$8.89
|
| Net Operating Income |
$153,319
|
$23.25
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $198,000 |
| Annual Per SF | $30.03 |
| Other Income | |
|---|---|
| Annual | $19,849 |
| Annual Per SF | $3.01 |
| Vacancy Loss | |
|---|---|
| Annual | $5,940 |
| Annual Per SF | $0.90 |
| Effective Gross Income | |
|---|---|
| Annual | $211,909 |
| Annual Per SF | $32.14 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $58,590 |
| Annual Per SF | $8.89 |
| Net Operating Income | |
|---|---|
| Annual | $153,319 |
| Annual Per SF | $23.25 |
PROPERTY FACTS
| Price | $2,295,000 | Apartment Style | Low-Rise |
| Price Per Unit | $191,250 | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.90% | Building Size | 6,593 SF |
| No. Units | 12 | No. Stories | 3 |
| Property Type | Multifamily | Year Built | 1958 |
| Property Subtype | Apartment | Parking Ratio | 1.06/1,000 SF |
| Zoning | R-3, Denver | ||
| Price | $2,295,000 |
| Price Per Unit | $191,250 |
| Sale Type | Investment |
| Cap Rate | 5.90% |
| No. Units | 12 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 6,593 SF |
| No. Stories | 3 |
| Year Built | 1958 |
| Parking Ratio | 1.06/1,000 SF |
| Zoning | R-3, Denver |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 1 | - | 450 |
| 1+1 | 11 | - | 550 |
Walk Score®
Very Walkable (74)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 6063-08-001 | Improvements Assessment | $104,970 (2024) |
| Land Assessment | $32,050 (2024) | Total Assessment | $137,020 (2024) |
PROPERTY TAXES
Parcel Number
6063-08-001
Land Assessment
$32,050 (2024)
Improvements Assessment
$104,970 (2024)
Total Assessment
$137,020 (2024)
MAP
ADDITIONAL PHOTOS
4720 E 8th Ave 2025-8
4720 E 8th Ave 2025-5
4720 E 8th Ave 2025-6
4720 E 8th Ave 2025-4
4720 E 8th Ave 2025-1
4720 E 8th Ave 2025-2
4720 E 8th Ave 2025-3