Denver, CO 80220,1371 Xenia ST
Denver, CO 80220,1371 Xenia ST
Denver, CO 80220,1371 Xenia ST
17
$3,075,000
$3,350,000
8.2%
Est.Price: ?

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0.29 Acres Lot

1371 Xenia ST Denver, CO 80220

Est. payment /mo
SOLD DATE : 09/18/2024

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Key Details

Sold Price $3,075,000

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Sold

Purchase Type For Sale

MLS Listing ID 5983128

Year Built 1961

Annual Tax Amount $20,149

Tax Year 2022

Lot Size 0.290 Acres

Property Description

VALUE-ADD OPPORTUNITY!! STABILILIZED BUILDING WITH BELOW MARKET RENT, LOW PRICE PER UNIT, TONS OF UPSIDE!! Contact Clayton for marketing material 303-590-4537, [email protected]. 23-unit apartment community located in East Denver at the SWC of 14th Avenue and Xenia Street. Built in 1961, this ?L? shaped 3-story exterior walk-up building is low maintenance with a sturdy all-brick and cinderblock exterior and flat roof. The roof was replaced less than 10 years ago. The 23 units consist of 2 studios, 19 one-bedroom units, and 2 two-bedroom units, most of which have been updated in the last 10 years with hard surface flooring and updated kitchens and bathrooms. Each unit is individually metered for electricity, paid directly by the residents. The building is heated by a central boiler replaced in 2018/2019 and a sidearm water heater was added at the same time for domestic hot water. Gas and Water is master metered paid by the owner, who recently implemented a $50 utility bill-back to recent move-ins. The building offers a central laundry facility with 3 washers and 2 dryers. All are coin-operated and owned by the building. There are 20 off-street parking spaces. The building is well protected with a new security door to the front of the building and a security gate from the alley to the central courtyard, all monitored by security cameras. The property has recently been xeriscaped for water conservancy with artificial grass added to the front of the building and to the renovated central courtyard. 1371 Xenia Street is conveniently located between the popular Lowry Neighborhood and Denver's Central Park Neighborhood and just a 5-minute drive to Fitzsimons Medical Campus. Residents enjoy a property that is walking distance to restaurants, shopping, parks, and public transportation. There is strong upside for a potential buyer by raising rents to market and continuing to implement the utility bill-back system.

Location

State CO

County Denver

Zoning G-MU-5

Exterior

Exterior Feature Playground

Garage Concrete

Utilities Available Cable Available, Electricity Connected, Internet Access (Wired), Natural Gas Connected, Phone Connected, Sewer Connected

Roof Type Membrane

Building

Lot Description Corner Lot, Landscaped

Story 3

Sewer Public Sewer

Water Public

Structure Type Block,Brick,Frame

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

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REColorado (REColorado MLS)
Listed by Marcus & Millichap Real Estate Investment Services of Atlanta, Inc. • [email protected],303-328-2075
Bought with Marcus & Millichap Real Estate Investment Services of Atlanta, Inc.

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Robert Hryniewich

Broker Associate | FA039371

+1(303) 564-8900

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