44 S Sherman ST Active Save Request In-Person Tour Request Virtual Tour
Denver,CO 80209
Key Details
Property Type Multi-Family, Commercial
Sub Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 4847818
Style Traditional
Year Built 1960
Annual Tax Amount $18,265
Tax Year 2024
Lot Size 6,534 Sqft
Property Sub-Type Multi-Family
Property Description
NICE 13-UNIT APARTMENT BUILDING WITH GREAT INCOME AND FABULOUS POTENTIAL! Great solid-brick apartment building in great condition in desirable quiet residential neighborhood. Walking distance to south Broadway corridor, including restaurants, retail, and nightlife. Close to Baker & West Washington Park neighborhoods. Professionally managed building & well-maintained with solid, strong income and tremendous upside potential! Newer windows throughout building, 8 of 13 units have been totally remodeled over past few years. Secure building, four off-street parking spot, four balcony units - building consists of two studio, ten one bedroom, and one two-bedroom penthouse apartment. Low vacancy rate. 2024 Cap Rate was 4.79, but 06/2025 rent increases bring projected new Cap Rate of 6.42 with room for additional increases. Operating costs included remodeling expenses of some units. 2024 assessed value is $3,497,000. This is truly a rare opportunityto own a great income-producing multi-familly property with tremendous upside. Hurry - this property will not last long!
Location
State CO
County Denver
Zoning G-MU-3
Exterior
Exterior Feature Balcony,Lighting
Parking Features Exterior Access Door,Lighted
Utilities Available Cable Available,Electricity Connected,Natural Gas Connected,Phone Connected,Sewer Connected
Roof Type Membrane
Building
Lot Description Near Public Transit
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None