1733 Paris St

1733 Paris Street is an eight-unit apartment building well-located just one block from the Fitzsimons / Anschutz Medical Campus, which employs over 40,000 people. It has four garden-level units and four upstairs units, all of which are one-bed /one-bath units. The units at Paris Street include enhanced cabinetry, flooring, light fixtures, and paint. The grounds are xeriscaped and the building has a new roof. The building is heated by a central boiler and has energy efficient double-paned windows. There is space in the building to add a community laundry facility for residents, which would provide additional income to the new owner. There are eight off-street parking spaces to the rear of the property. Entry is through secure front and back doors.
Built in 1950, 1733 Paris Street offers residents a prime location next to Fitzsimons / Anschutz Medical Campus and the rest of the Fitzsimons Innovation District as well as surrounding development. This is a value-add opportunity with an achievable 6.60%+ market capitalization rate though improved operations and increasing rents to market. Given demand from traveling nurses at throughout the medical facilities at Fitzsimons, this creates option to convert leases to mid-term rentals. Mid-term rental rates typically increase monthly income by twenty percent.