636 S Quitman Street

Denver, CO 80219

Incomes Property  $1,600,000  Active

08-01-2017 03:54pm

Charming 12 unit property on Morrison Road in the hot Westwood Neighborhood. With a great mix of studios, 1 bedrooms and 2 bedrooms, these units don't stay vacant long and regularly have a waiting list. 29 parking spaces offer untapped income potential and a parking convenience that tenants love. Recent Capital Improvements include new parking lot sealing and striping (2016), roof replacements (2013), rebuilt fencing around the property (2016), new breaker boxes to half of the units (2016), new individual heaters and A/C's for most units (2017), new floor tile, new carpeting and new paint in most units (2017).Set on a 21,000ft lot fronting Morrison Road, this location offers great potential for future development. With neighborhood plans approved to revamp the Morrison Corridor leading to Downtown Denver, the next owner will benefit from the influx of new development that is already underway all around the property. Great investment opportunity with lots of upside.

MLS#
5138798
MLS Originator
REcolorado (Denver)
Original Price
$1,600,000
Distance to Bus
0.30
Nearby Attraction
Near Public Transit

Property
Income
Property Subtype
Income
Status
Active
Last Update
08-01-2017 03:54pm
Bedrooms
7
Bathrooms
12
SqFt
3700
Year Built
1952
Der PSF Total
432.43

SqFt Lot
21088.00
SqFt Finished
3700
SqFt Above
3700

Previous Year Tax
$4,895
Terms and Conditions
Cash, Conventional
Owner Paid Utilities
Electricity,Gas,Water,Television,Internet,Trash
Transaction Type
For Sale

Interior Features
Cable Available, Double Pane Windows, Eating Space / Kitchen, Updated
Appliances
Dryer, Refrigerator (Kitchen), Smoke Alarm, Stove/Range/Oven, Washer
Flooring
Carpet, Laminate, Tile Floor
Cooling
Air Conditioning-Individual
Heating
Wall Heater
Heating Fuel
Gas

Baths Full
0
Laundry Availability
Coin-operated

General
Near Public Transit
Features
Fence, Gas Grill, Utility Shed
Base Size
None
Parking Spaces
1
Vehicle Spaces
29
Type
# of Space
L x W
Description
Reserved
29
-

Building Type
5+ Plex (all units),Low Rise (all units)
Structure
Ranch/1 Story
Roof
Rolled Roofing
Construction
Stucco
Exterior Features
Fence, Gas Grill, Utility Shed
Features
Residential Management,Vending Machines
Construction Method
Block

School District
Denver 1
Elementary School
Castro
Middle School
Kepner
High School
Abraham Lincoln

Annual Actual Expenses
37709
Annual Projected Expenses
36186
Annual Actual Income
146238
Annual Projected Income
154941
Annual Actual Net Income
108529
Annual Projected Net Income
118755
Unit Furnished
0

PPA
3333333.33
Lot Width
0.00

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Average Values based on MLS data (realtime)

The following Average Values are calculated based on the following property information
- Property Address: 636 S Quitman Street, Denver, CO 80219
- Property Type: Incomes Property, 7 beds, 12 baths, 3700 SqFT
- Selling Price: $1,600,000
 
Average Price (Cumulative Number of Properties)
 
Last 3 months
Last 6 months
Last 9 months
Last 12 months
Area 1 (< 1 mile)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
Area 2 (1-2 miles)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
Area 3 (2-3 miles)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
Area 4 (3-5 miles)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)
$1,600,000 (1)

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