9
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$1,350,000
Est. payment /mo
3,101 SqFt
Price Dropped by $150K
1200 E 24th AVE Denver, CO 80205
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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 3,101 sqft
Price per Sqft $435
MLS Listing ID 4895373
Style Traditional
HOA Y/N No
Year Built 1945
Annual Tax Amount $4,618
Tax Year 2024
Lot Size 0.291 Acres
Acres 0.29
Property Sub-Type Multi Family
Source recolorado
Property Description
Tremendous opportunity with this very unique situation! This listing includes both 2344/2346 Downing Street & 1200-1206 E 24th Ave. Two separate legal parcels allow you to get two conventional (even FHA) loans and two insurance policies offering better rates and terms than commercial products. You could sell the parcels separately or go one step further and sell each unit individually through a party wall split. However, this also makes a great hold! Offered at a 6.47% cap rate on actual numbers, this turnkey asset boasts 2 to 1 parking, WA/DR in each unit, separate hot water heaters and HVAC systems. (5 of the 6 have central air) Large lot that would allow you to build additional units through an ADU. Long term tenants who pay their own electric and gas. Ideally located close to downtown, Rino, RTD, parks, shopping, restaurants, etc. Current rent roll and 2025 I&E's can be found in supplements.
Location
State CO
County Denver
Zoning U-SU-B1
Interior
Fireplace N
Exterior
Utilities Available Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
Roof Type Composition
Total Parking Spaces 12
Garage No
Building
Lot Description Corner Lot, Near Public Transit
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Synergy Associates Inc
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TESTIMONIALS
Travis helped me buy my house and sell it. He's thorough and on top of every step in the buying/selling process. I've had friends deal with lackadaisical realtors who are impossible to get ahold of and Travis does not fit that mould. He has a great team on his side who did all of the heavy lifting and kept me in the loop throughout the entire selling process. He got my house under contract in less than a week for well over what I thought I'd sell for. He went above and beyond from start to finish. I'm so grateful for the opportunity to work with Travis!