Off Market Quadplex in the Heart of Denver

[Stuart Crowell]

BP Investors, 

I have an off market, high-end Victorian quadplex available in the heart of Denver with multiple investment opportunities and options. 

Details: 

• Victorian 4Plex built in 1890
• 3 2b/2b units and 1 basement studio
• Modern and new finishes, the place was ripped to the studs and is now back on the market
• This is a high-end rental close to E Colfax, 17th Street shopping & dining, City Park, Cheesman Park, and Downtown 
• Exposed brick, granite, fireplaces, SS appliance package, hardwood, All new home systems 
• 6 parking spots (not easily found near City Park)
• A few houses off of Colfax on High St (first block N of Colfax) 

Options: 

1. Buy as a rental investment. Could rent for $6500/mo (more if you wanted to push premium rents). 7% Cap Rate. 8% Cash on Cash return for those putting 20% down.
2. High-end house hack. If you have the funds, this would be a cushy way to house hack while you live comfortably in a fantastic part of town 
3. Zoned for residential or retail - lots of options for an investor purchasing now with a long term view of the E Colfax corridor, which is becoming more and more commercial. 
4. Buy and split the units, selling them off individually. High end 2/2's in the area are going north well of 400. Depending on timing, you would stand to net $200-400K if you sold in the short term. 
5. Combine any of these options depending on your situation. 

Things I don't know (yet): 

1. I f any sqft was added during the renovation of the property (County records show 3769)
2. Exact details of the finishes (brand name, builder, etc) 
3. Exact sqft per unit 

Comps: 

• 1530 Gaylord Active @ 1,250,000. On market since 7/11
• 1433 N Downing in Cap Hill. Sold for 1,018,300 in July. Not even close on condition. 

Call/email/comment/PM/whatever with questions!