"The Kelly" is a 12 unit apartment building located in one of the most profitable sub-markets in metro Denver. The neighborhood continues to grow immensely and has enjoyed an average annual growth rate of 18% since 2012. The area is surrounded by new development with Stapleton & Stanley Marketplace to the north, Anschutz Medical Campus to the east, and Lowry to the south. The building sits on a peaceful, quiet block surrounded by single family homes. $10,000 in new, low maintenance landscaping provides great curb appeal for current and prospective tenants. The common areas and many of the apartment interiors have new hard surface flooring to give the building a modern feel while helping keep unit turnover costs low. Listed at just $1,440,000, The Kelly is being sold at the lowest price per door in metro Denver at $120,000 per unit. This price provides an unbeatable 7% cap rate on pro forma financials. A hidden gem just across the boarder from Denver, the building could be a great fit for any investor looking to outpace broader market returns in the coming years. Kellen Reilly 3 0 3 9 1 0 4 7 3 2
This property is off market, which means it's not currently listed for sale or rent on Zillow. This may be different from what's available on other websites or public sources.
