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$ 2,100,000
Est. payment | /mo
20,858 SqFt
$ 2,100,000
Est. payment | /mo
20,858 SqFt
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 20,858 sqft
Price per Sqft $100
MLS Listing ID 2647831
HOA Y/N No
Year Built 1972
Annual Tax Amount $606
Tax Year 2024
Property Sub-Type Multi Family
Source recolorado
Property Description
Rare opportunity to acquire a 33-unit condo portfolio offered as a distressed investment due to fire incidents that occurred in 2022 and 2023. As a result, pricing reflects a significant discount, currently estimated at approximately 50–60% below prior market values.
This portfolio is best suited for experienced investors with a medium- to long-term investment horizon and may not fit all buyer profiles. Several units are impacted and pending future renovation coordination through the HOA. Based on current HOA communication, reconstruction and remodeling of fire-affected units are anticipated to begin within approximately two years, subject to HOA timelines and approvals.
Prior to the fire events, comparable units within the community historically traded between $125,000–$180,000 per unit, presenting potential upside as restoration progresses and market conditions stabilize (buyers to independently verify all projections).
The current owner is actively working to lease up additional units, with plans to add approximately seven more rental units, which may improve future income performance and NOI.
Prime investment opportunity for value-add investors seeking long-term appreciation and income growth potential.
This portfolio is best suited for experienced investors with a medium- to long-term investment horizon and may not fit all buyer profiles. Several units are impacted and pending future renovation coordination through the HOA. Based on current HOA communication, reconstruction and remodeling of fire-affected units are anticipated to begin within approximately two years, subject to HOA timelines and approvals.
Prior to the fire events, comparable units within the community historically traded between $125,000–$180,000 per unit, presenting potential upside as restoration progresses and market conditions stabilize (buyers to independently verify all projections).
The current owner is actively working to lease up additional units, with plans to add approximately seven more rental units, which may improve future income performance and NOI.
Prime investment opportunity for value-add investors seeking long-term appreciation and income growth potential.
Location
State CO
County Arapahoe
Interior
Fireplace N
Exterior
Exterior Feature Balcony, Lighting, Tennis Court(s)
Utilities Available Cable Available, Electricity Available
Roof Type Concrete
Total Parking Spaces 500
Garage No
Building
Lot Description Landscaped
Sewer Public Sewer
Water Public
Structure Type Stucco
Others
Acceptable Financing Cash, Conventional, Owner Will Carry
Listing Terms Cash, Conventional, Owner Will Carry
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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 HomeSmart