4489 Grant St - 4489 Grant St
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4489 Grant St - 4489 Grant St
3 Unit Apartment Building Offered at $984,480 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 | $90,291 | $35.19 |
Other Income | $11,251 | $4.38 |
Vacancy Loss | $4,515 | $1.76 |
Effective Gross Income | $97,028 | $37.81 |
Taxes | $3,306 | $1.29 |
Operating Expenses | $27,962 | $10.90 |
Total Expenses | $31,268 | $12.19 |
Net Operating Income | $65,759 | $25.63 |
Financial Summary (Pro forma - 2024)
Gross Rental Income (CAD) | |
---|---|
Annual | $90,291 |
Annual Per SF | $35.19 |
Other Income (CAD) | |
---|---|
Annual | $11,251 |
Annual Per SF | $4.38 |
Vacancy Loss (CAD) | |
---|---|
Annual | $4,515 |
Annual Per SF | $1.76 |
Effective Gross Income (CAD) | |
---|---|
Annual | $97,028 |
Annual Per SF | $37.81 |
Taxes (CAD) | |
---|---|
Annual | $3,306 |
Annual Per SF | $1.29 |
Operating Expenses (CAD) | |
---|---|
Annual | $27,962 |
Annual Per SF | $10.90 |
Total Expenses (CAD) | |
---|---|
Annual | $31,268 |
Annual Per SF | $12.19 |
Net Operating Income (CAD) | |
---|---|
Annual | $65,759 |
Annual Per SF | $25.63 |
Property Facts
Unit Mix Information
Description | No. Units | Avg. Rent/Mo | SF |
---|---|---|---|
2+1 | 2 | $2,574 CAD | - |
1+1 | 1 | $2,018 CAD | - |
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Bike Score ®
Very Bikeable (86)
PROPERTY TAXES
Parcel Number | 2221-33-029 | Total Assessment | $41,400 CAD (2023) |
Land Assessment | $30,129 CAD (2023) | Annual Taxes | $3,306 CAD ($1.29 CAD/SF) |
Improvements Assessment | $11,270 CAD (2023) | Tax Year | 2024 |
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
$3,306 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.) |
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4489 Grant St - 4489 Grant St
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