$890,000
$995,000
10.6%For more information regarding the value of a property, please contact us for a free consultation.
2,605 SqFt
SOLD DATE : 08/25/2023
Key Details
Sold Price $890,000
Property Type Multi-Family
Sub Type Quadplex
Listing Status Sold
Purchase Type For Sale
Square Footage 2,605 sqft
Price per Sqft $341
Subdivision Capitol Hill
MLS Listing ID 6581479
Sold Date 08/25/23
HOA Y/N No
Originating Board recolorado
Year Built 1886
Annual Tax Amount $4,237
Tax Year 2023
Lot Size 3,920 Sqft
Acres 0.09
Property Description
1330 Downing St. is a stunning 4-unit converted mansion in Denver’s highly coveted Capitol Hill neighborhood. The building exterior boasts a rare facade built from rhyolite stone locally sourced in Castle Rock, CO. The interior is equally impressive with spacious layouts, 10+ foot ceilings and large windows that flood the apartments with natural light.
The property presents plenty of value-add opportunity as the owner currently occupies the 2br/1ba unit and is receiving well below market rent for the other three units. Another unit is also on a month to month leases which will allow the new owner to immediately
increase rents or begin renovations.
An investor can cashflow a well-kept building in an A+ location or make cosmetic updates to the units and increase rents considerably. Common area laundry in the basement, a communal backyard and 3 off-street parking spaces round out this
investment opportunity.
Location
State CO
County Denver
Zoning U-RH-3A
Rooms
Basement Unfinished
Interior
Interior Features High Ceilings
Heating Baseboard
Cooling None
Flooring Carpet, Laminate, Vinyl
Fireplace N
Appliance Oven, Range, Refrigerator
Laundry Common Area, In Basement
Exterior
Exterior Feature Balcony, Private Yard
Fence Full
Utilities Available Electricity Connected, Natural Gas Connected, Phone Available
Roof Type Rolled/Hot Mop
Total Parking Spaces 3
Garage No
Building
Lot Description Landscaped
Story Two
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick,Stone
Schools
Elementary Schools Dora Moore
Middle Schools Dora Moore
High Schools East
School District Denver 1
Others
Senior Community No
Ownership Individual
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition None
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Bought with NorthPeak Commercial Advisors, LLC
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Consultant | Broker Associate | FA100030130