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4489 Grant St - 4489 Grant St

3 Unit Apartment Building Offered at $985,026 CAD at a 5.15% Cap Rate in Denver, CO 80216

Investment Highlights

  • Development Potential with Mixed Use Zoning
  • 6 Off-Street Parking Spaces
  • Fully Leased

Executive Summary

Introducing an exceptional investment opportunity in Denver, Colorado - 4489 Grant Street. This historic 2,566 SF multi-use building, offers three spacious units in mixed used E-MX-2 zoning. Priced at $700,000 with an as-is 5.15% Cap Rate and first year Cap rate at 6.68% this property presents compelling potential for multifamily or high-rise investors looking to capitalize on Denver's growing market. With concept plans in place, this property provides development opportunities in a prime location. Surrounded by a robust demographic with an average household income of $114,004 within a 1-mile radius, this property is a promising investment. For those seeking a strategic move in the bustling Denver real estate market, 4489 Grant Street stands as a promising venture in a thriving community.

Financial Summary (Pro forma - 2024)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $90,341 $35.21
Other Income $11,257 $4.39
Vacancy Loss $4,517 $1.76
Effective Gross Income $97,081 $37.83
Taxes $3,308 $1.29
Operating Expenses $27,978 $10.90
Total Expenses $31,286 $12.19
Net Operating Income $65,796 $25.64

Financial Summary (Pro forma - 2024)

Gross Rental Income (CAD)
Annual $90,341
Annual Per SF $35.21
Other Income (CAD)
Annual $11,257
Annual Per SF $4.39
Vacancy Loss (CAD)
Annual $4,517
Annual Per SF $1.76
Effective Gross Income (CAD)
Annual $97,081
Annual Per SF $37.83
Taxes (CAD)
Annual $3,308
Annual Per SF $1.29
Operating Expenses (CAD)
Annual $27,978
Annual Per SF $10.90
Total Expenses (CAD)
Annual $31,286
Annual Per SF $12.19
Net Operating Income (CAD)
Annual $65,796
Annual Per SF $25.64

Property Facts

Price $985,026 CAD
Price Per Unit $328,342 CAD
Sale Type Investment
Cap Rate 5.15%
Sale Conditions
1031 Exchange
  • Redevelopment Project
No. Units 3
Property Type Multifamily
Building Class B
Lot Size 0.22 AC
Building Size 2,566 SF
No. Stories 2
Year Built 1894

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
2+1 2 $2,575 CAD -
1+1 1 $2,019 CAD -
Bike Score ®
Very Bikeable (86)
What is a Walk Score®, Transit Score® & Bike Score®?
Walk Score® measures the walkability of any address.
Transit Score® measures access to public transit.
Bike Score® measures bikeability of a location.
What is a Walk Score®
, Transit Score® & Bike Score?
Walk Score® measures the walkability
of any address. Transit Score®
measures access to public transit. Bike Score®
measures bikeability of a location.®

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
2221-33-029
Land Assessment
$30,129 CAD (2023)
Improvements Assessment
$11,270 CAD (2023)
Total Assessment
$41,400 CAD (2023)
Annual Taxes
$3,308 CAD ($1.29 CAD/SF)
Tax Year
2024

zoning

Zoning Code E-MX-2 (Mixed use zoning perfect for development projects.)
E-MX-2 (Mixed use zoning perfect for development projects.)
  • Listing ID: 33998673

  • Date on Market: 2024-11-25

  • Last Updated:

  • Address: 4489 Grant St, Denver, CO 80216

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