1235 N Pennsylvania St
- Additional art studio providing an opportunity for supplemental income outside of the five residential units
- Multiple income streams including rental income, RUBS, laundry, and miscellaneous income
- Modest rental upside through projected increases to studio and 1-bedroom rents
- $215.71 per SF offering a manageable basis for an income-producing Denver asset
Property Description
Pinnacle Real Estate Advisors is pleased to announce they have been retained as the exclusive marketing advisor for 1235 N Pennsylvania St. in Denver, Colorado. This offering presents an opportunity to acquire a 5-unit multifamily property totaling approximately 4,520 SF, featuring four 1-bedroom/1-bathroom units and one studio, plus an additional art studio that is not included in the total unit count. The property is currently generating approximately $91,619 in Gross Operating Income and $64,557 in Net Operating Income, resulting in a 6.62% current CAP rate at the asking price of $975,000. The property offers established in-place income with additional revenue from RUBS, laundry, and miscellaneous income, providing multiple sources of cash flow. Pro forma projections reflect modest rental growth, increasing NOI to approximately $68,232 and supporting a 7.00% pro forma CAP rate. Priced at $215.71/SF, 1235 N Pennsylvania St. provides an opportunity to acquire a small-scale Denver multifamily asset with current cash flow and potential for continued income growth.
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $975,000 |
| No. of Units: | 5 |
| Year Built: | 1904 |
| Lot Size: | 0.14 Acres |
| Opportunity Zone: | No |
| Price per unit: | $195,000 |
| Property Website | Click Here |
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