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880 N Marion St

6 Unit Apartment Building $1,525,944 CAD ($254,324 CAD/Unit) 4.86% Cap Rate Denver, CO 80218

Investment Highlights

  • Trophy Asset with Stunning Curb Appeal
  • Easy To Rent Unit Mix of Six 1-Bedroom Apartments
  • Immediate Opportunities to Increase Cashflow
  • Exceptional Cheesman Park location
  • High-Performing Rental Submarket

Executive Summary

880 Marion St. is a stunning turn-of-the-century converted mansion located in Denver’s highly desirable Cheesman Park neighborhood. The building offers a unit mix of six 1-bedroom apartments, with all the apartments being in exceptional condition. The units offer an elegant blend of historic charm and modern comfort, featuring spacious layouts, high ceilings, and generously sized windows that flood the interiors with natural light. The property presents immediate rental upside, with rents currently below market due to long-term ownership and tenancies. Additionally, the property includes five garage parking spaces, of which only two are capitalized by current ownership, providing even more untapped revenue potential for a new owner.
Situated on a prime 7,810 square foot corner lot just three blocks west of Cheesman Park, the building is surrounded by local grocers, cafes and restaurants that make it especially attractive to renters. With its blend of charm, location and growth potential, 880 Marion stands as a prime investment, well-positioned to maintain high-occupancy and reliable returns for years to come.

Financial Summary (Actual - 2023)

Annual (CAD) Annual Per SF (CAD)
Gross Rental Income $126,421 $32.13
Other Income $12,642 $3.21
Vacancy Loss $3,793 $0.96
Effective Gross Income $135,271 $34.37
Taxes $8,165 $2.07
Operating Expenses $27,391 $6.96
Total Expenses $35,557 $9.04
Net Operating Income $99,714 $25.34

Financial Summary (Actual - 2023)

Gross Rental Income (CAD)
Annual $126,421
Annual Per SF $32.13
Other Income (CAD)
Annual $12,642
Annual Per SF $3.21
Vacancy Loss (CAD)
Annual $3,793
Annual Per SF $0.96
Effective Gross Income (CAD)
Annual $135,271
Annual Per SF $34.37
Taxes (CAD)
Annual $8,165
Annual Per SF $2.07
Operating Expenses (CAD)
Annual $27,391
Annual Per SF $6.96
Total Expenses (CAD)
Annual $35,557
Annual Per SF $9.04
Net Operating Income (CAD)
Annual $99,714
Annual Per SF $25.34

Property Facts

Price $1,525,944 CAD
Price Per Unit $254,324 CAD
Sale Type Investment
Cap Rate 4.86%
No. Units 6
Property Type Multifamily
Property Subtype Apartment
Apartment Style Low Rise
Building Class C
Lot Size 0.18 AC
Building Size 3,935 SF
No. Stories 2
Year Built 1900

Unit Amenities

  • Heating
  • Kitchen
  • Refrigerator
  • Oven
  • Tub/Shower
  • Freezer

Unit Mix Information

Description No. Units Avg. Rent/Mo SF
1+1 6 - 500
Walk Score ®
Very Walkable (89)
Bike Score ®
Biker's Paradise (96)
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.®

zoning

Zoning Code G-MU-3
G-MU-3
  • Listing ID: 33845964

  • Date on Market: 2024-11-12

  • Last Updated:

  • Address: 880 N Marion St, Denver, CO 80218

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