1465 Elm StDenver, CO 80220

This attractive 15-unit apartment building, The Francesca, is located in Denver's desirable Mayfair neighborhood at 1465 Elm St, Denver, CO 80220. Built in 1945, this classic post-war building offers a desirable mix of seven spacious one-bedroom/one-bathroom and eight two-bedroom/one-bathroom apartments, each featuring tasteful designer upgrades blended with charming vintage details like refinished hardwood floors, coved ceilings, picture molding, large windows, and ample closet space. The 10,541 square foot building sits on an 18,700 square foot lot and includes 15 off-street parking spaces, a significant amenity in this location. Recent capital improvements include brand new vinyl windows throughout, fully renovated hallways and common areas, new exterior flatwork, a stamped concrete patio with a firepit and seating area, and a dedicated dog run. The building boasts onsite laundry facilities. The property's location offers easy access to the dining, retail, and entertainment options of the nearby 9+CO development and a city park, providing residents with abundant recreational opportunities. The current Net Operating Income (NOI) is $207,004, with a pro-forma NOI of $214,572, resulting in a 5.50% cap rate and a pro-forma cap rate of 5.70%. The asking price is $3,495,000, or $250,000 per unit. Further rental income increases are possible with modest kitchen and bathroom upgrades. The property is zoned U-TU-C.