2071 S Milwaukee Street

Denver, CO 80210

Incomes Property  $1,320,000  Active

10-25-2019 12:45pm

Property Description

Rare opportunity to acquire a multifamily investment in the prestigious Observatory Park neighborhood. The property has undergone extensive capital improvements over the last year and is in excellent condition. Six of the units feature upgraded kitchens and all the windows were recently replaced. The exterior stairs are brand new along with a new mail box. Additional exterior improvements include new siding and paint, new exterior lighting and upgraded landscaping. These extensive upgrades enable the buyer to capture future rent growth without needing to invest significant capital. The property is surrounded by high-end single family residences with limited multifamily inventory. Average household income within a one-mile radius is over $100,000. The property is ideally book-ended by the University of Denver to the west and the Colorado Boulevard retail corridor, and light rail, to the east.

Listing Details

MLS#
7160219
MLS Originator
REcolorado (Denver)
Original Price
$1,320,000

Property Details

Property
Income
Property Subtype
Income
Status
Active
Last Update
10-25-2019 12:45pm
Bedrooms
0
Bathrooms
8
SqFt
4160
Year Built
1955
Der PSF Total
317.31

Map

Property Level and Sizes

SqFt Lot
7500.00
SqFt Finished
3200
SqFt Above
4160

Financial Details

Previous Year Tax
$6,079
Terms and Conditions
Cash, Conventional, Exchange
Owner Paid Utilities
Electricity,Gas,Trash,Water
Transaction Type
For Sale

Interior Details

Cooling
None
Heating
Baseboard
Heating Fuel
Gas

Room Details

Laundry Availability
Coin-operated,Shared Laundry in Building,Washer/Dryer Included

Exterior Details

Base Floor Plan
Slab
Base Size
None
Parking Spaces
1
Vehicle Spaces
8
Type
# of Space
L x W
Description
Off-Street
8
-

Exterior Construction

Building Type
Low Rise (all units)
Roof
Composition Shingles
Construction
Brick
Construction Method
Frame

Schools

School District
Denver 1
Elementary School
University Park
Middle School
Merrill
High School
South

Condominium Projections

Annual Actual Expenses
30400
Annual Projected Expenses
33224
Annual Actual Income
90000
Annual Projected Income
103583
Annual Actual Net Income
59600
Annual Projected Net Income
70359
Unit Furnished
0

Land Details

PPA
7764705.88
Lot Width
0.00


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