1520 Wabash StDenver, CO 80220

This exceptional investment opportunity presents a fully leased, 14-unit apartment building located at 1520-1526 Wabash St, Denver, CO 80220. The property boasts 12,000 square feet on a 0.48-acre lot and features a diverse unit mix of studios, one, two, and three-bedroom apartments. Built in 1948, this two-story building has undergone extensive renovations, including new roofs, HVAC systems, windows, and boilers, minimizing future capital expenditures. The property offers a current NOI of $159,014 and a pro-forma NOI of $199,946, translating to a current cap rate of 5.78% and a pro-forma cap rate of 7.27%. The asking price is $2,750,000, or $196,429 per unit, and $229.17 per square foot. The convenient location in Denver's rapidly developing East Colfax neighborhood provides easy access to public transportation, downtown Denver, and the Colfax commercial corridor. The property includes a parking lot with 13 dedicated spaces and ample off-street parking. Its proximity to over $100 million in planned new developments further enhances its long-term investment potential. This turnkey property is ideal for both seasoned investors and those seeking stable cash flow and appreciation.