636 S Quitman Street

Denver, CO 80219

Incomes Property  $1,350,000  Active

09-21-2017 09:48am

Highest in-place CAP rate in the Denver Multifamily Market... 8.11%! Huge existing cash flow of $109,529 with an incredible opportunity for future development of this 21,000sf site on Morrison Road. The Denver City Council has just approved a $12,200,000 revitalization project for the Morrison Road Corridor which aims to bring in new businesses and restaurants - creating a walk-able "downtown" feel. New construction has already been completed nearby with many more projects under construction and in permitting... a $40,000,000 development is nearing completion just 4 blocks away. Enjoy the highest return on the market while the last "up and coming" neighborhood in Denver improves around you and values rise! See attachments for the Morrison Road Revitalization Plan as well as the rezoning proposal from 3 to 5 stories which has already been adopted by the Denver City Council.

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
09-21-2017 09:48am
Bedrooms
7
Bathrooms
12
SqFt
3700
Year Built
1952
Der PSF Total
364.86

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
147238
Annual Projected Income
154941
Annual Actual Net Income
109529
Annual Projected Net Income
118755
Unit Furnished
0

PPA
2812500.00
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: $1,350,000
 
Average Price (Cumulative Number of Properties)
 
Last 3 months
Last 6 months
Last 9 months
Last 12 months
Area 1 (< 1 mile)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
Area 2 (1-2 miles)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
Area 3 (2-3 miles)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
Area 4 (3-5 miles)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)
$1,350,000 (1)

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