All Forum Posts by: Stuart Crowell

I'm an Agent in Denver working with quite a few investors both in and out of state and I've seen a pretty big shift from Multifamily to Single Family investing by both mom & pop investors as well as institutional money YTD compared to 2017. I'm curious, other agents or investors in Colorado experiencing this as well? Might just be the clientele I'm attracting or being referred.. I'm really not sure.. thanks! 

Please note that address is intentionally incorrect. 

The building has not been priced yet (needed to input price on BP marketplace to post) contact me for details. Just West of Sheridan and South of 6th. Nice under market investment opportunity with solid cash flow and the ability to increase with ease. This is not my listing, looking to represent a qualified buyer. The building is in great shape with new roof and mechanicals. Market rents are $1150 a piece based on comps. 241 S Hazel - a similar quad just closed for 779K closer to Federal. Contact me for details or to set a showing! Won't last long... it's Denver after all :). 

If you're coming out of a 1031 and need to identify a property I want to throw this on your radar. 735 Clarkson St is a historic Governor's Park Mansion that awaits a conversion for the investor that wants to hold a cash flowing historic asset. Give me a call at 269-598-0003 for a private showing and more details. Potential for a four unit property (basement, main level, upper level and carriage house). If you've never seen property in the 7th Ave historic district and have the funds coming out of a 1031, don't miss this. 

@Robert Herrera that's so cool! The event company does great work with the space now. Glad you've had the opportunity to get up there. I'd love to see it converted to part-residential. We have a guy interested who would do an Airbnb concept. I think that would be such a fitting use for the space. Cheers. 

On rare occasion, truly historic properties present an opportunity for new ownership. The historic Daniels and Fisher Clock Tower in the heart of Denver was once the tallest building West of the Mississippi River. The top five levels of the D&F Tower have been listed for sale, providing an opportunity to create one of the most exquisite and timeless residences that the city of Denver has ever seen.

The Daniels and Fisher tower is a pinnacle of history and heritage in Denver. Originally constructed in 1911, the concrete structure stands 325 feet above the city. Renown architect Frederick Sterner created the tower to model the Campanile tower in Venice, Italy in order to bring iconic architecture to the American West. The top five levels of the tower boast incredible views of the city and the front range. With two 360 degree wraparound balconies on levels 17 and 20 respectively, the city is in the palm of your hand. As you travel through the levels, each floor boasts a dramatic and unique interpretation of old age architecture. A similar structure today would simply prove too cost prohibitive to build, making the space truly timeless. By converting the top five levels of the structure into a primary or secondary residence, the owner would occupy one of the most dramatic and captivating spaces in all of Colorado. The four clock faces can be converted to a transparent glass, allowing any viewer unobstructed interior views of the downtown and front range in such a way that no other condominium in the city can compare. The clock tower’s rich history and iconic architecture make it one of the most unique listings to be presented to market in Colorado.

The space is currently leased by an event company (Clock Tower Events) and is staged with event equipment and decorations. The county of Denver has permitted residential use in the building twice before and has expressed in writing the approval of a residential use on the top floors of the building. 

There are many possibilities for redeveloping or buying and holding this iconic space. Convert it to Denver's best Airbnb, Flip it, long term hold, create a private club. The space can suit anything but a medical facility per the city of Denver. Opportunites are endless!  

For pictures, floor plan, and video click here: https://www.stucrowellrealty.com/clocktower

For multifamily investors - I'm looking for buyers of two multifamily (one 5 unit and one 8 unit) properties in Capitol Hill. Solid cash flow and under market rent rates (current). Both are priced ~1.9M. I'm not going to inundate this post with details so please shoot me an email or give me a phone call if you have any interest in the details. 

Regards

Calling all BP Developers or interested Developers in the Denver/CO Front Range Area. I have an off-market Development opportunity for you with an insane amount of upside potential, a true buy-side winner. 

Details:

• Location: East Aurora (Close to Tower and Colfax)
• 2 Acre Lot (potential could go to 4)
• Can build 12 single family homes or 8 duplexes for a total of 16 units
• Currently NOT subdivided but the parcel has been through the zoning process with the city, just not executed due to cost. 
• Finished product can sell between 250-300K/unit 
• Next to new sports arena S of Colfax
• Purchase Price is still being deliberated, should end up around $600K

Basic Pro Forma:

• Gross Sales - ~$3,300,000
• Less Land - $600K
• Less Commission - $200,000
• Less Construction Costs - $1,500,000
• Less Development Fee - $50,000
• Net Profit: ~$950,000

I don't have to point out that this pro forma is HIGHLY variable and dependent on your particular scope of work. This factors sales of 12 single family spec homes at a base price of 275K. 

Please contact me for further details (map, comps, etc) and to set up a private showing. I urge readers to not go sniffing around on their own here, the sellers are very cautious and do not want any unwanted solicitation. 

Thank you!

Stuart

(269) 598-0003

[email protected]

Investors, Agents, BP friends... What is your impression of Globeville? The village of Globeville has become hot the past 12 months and I wonder if anyone has any thoughts or would share with me if you would invest there?

A little background for anyone not familiar with Globeville, it is an industrial neighborhood in North Denver nestled between Sunnyside and RINO (click  here). Location is prime but it is overall a very industrial area and not a desirable one in terms of current housing. Now, I've heard whispers that Globeville is about to go completely nuts and might be the only place to invest in Denver Proper for any B&H investor. 

Here's why I think this might be accurate. Development on either side of the neighborhood has gone berzerk. For those familiar with RINO, the Atkins Ct/Brighton Blvd corridor is about to get some SERIOUS facelift. New condos, mixed-use office space, hotels, parks, pedestrian/biker friendly European style roads, and walking bridges are all under construction right now. The city did this a few years ago connecting LoHi with LoDo and obviously, that worked out for them. Additionally, the city is rezoning much of 5 points/RINO from C-MX-8 to C-MX-16 (just don't tell anyone okay ;).

Now, I want your impression... to me this makes Globeville (below I70) a HUGE winner. As "overpriced" (market priced) as it may be, by buying and holding you're sitting on a gold mine of development potential. I would hazard a guess that we'll start seeing new townhomes spring up within the next 24 months. 

Thoughts?? Anyone have experience investing in Globeville? I would love to get lunch. 

-Stu

@Charles Peralta excellent! What is your handle? I'll have to be sure I follow back!