880 N Marion St
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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.
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 | Apartment Style | Low Rise |
Price Per Unit | $254,324 CAD | Building Class | C |
Sale Type | Investment | Lot Size | 0.18 AC |
Cap Rate | 4.86% | Building Size | 3,935 SF |
No. Units | 6 | No. Stories | 2 |
Property Type | Multifamily | Year Built | 1900 |
Property Subtype | Apartment |
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 |
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Walk Score ®
Very Walkable (89)
Bike Score ®
Biker's Paradise (96)
zoning
Zoning Code | G-MU-3 |
G-MU-3 |
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880 N Marion St
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