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127 N Pearl Street, Denver, CO 80203

$1,650,000

For Sale

WhatsApp Facebook Twitter Pinterest Linkedin Email

For Sale

127 N Pearl Street, Denver, CO 80203

$1,650,000

Overview

Property ID: AMR30248106

Commercial Sale
Property Type

3553
Sqft

1922
Year Built

Description

Golden Opportunity in the Speer Neighborhood!
This enduring investment presents an opportunity with a very low vacancy rate in the highly sought-after Speer neighborhood. Ideal investment opportunity, with substantial upside. Currently boasting a 5% CAP rate, the rental market indicates a potential 5.6% CAP rate under new ownership (refer to pro-forma for details).
Situated in an excellent location for urban enthusiasts, the property is just 0.2 miles from the Cherry Creek bike path, less than half a mile from Alamo Placita Park, 1.5 miles to the Cherry Creek Mall, and a convenient 1/2 mile stroll to Broadway and 1st Avenue. It’s your urban renters’ dream locale.
Features include central heating and A/C, updated windows throughout, modernized electrical systems, individually metered units with tenant-paid electricity. The building boasts newer furnace, newer roofs and gutters, as well as a sprinkler system that keeps the landscape lush and green, front and back.
The kitchens are well-maintained, featuring painted cabinets, laminate counters (granite in one unit), and hardwood floors throughout. Utilities are divided with owners responsible for gas, A/C, common space electricity, water, sewer, and trash, while tenants cover unit electricity, cable, and internet. Additionally, a coin-operated laundry facility in the basement provides another income stream.
Showings can be scheduled through showingtime and/or by email. 1 unit is vacant and ready to show. For questions about the listing, please call Eddie at 303-564-5864