UNIVERSITY OF DENVER SUBMARKET

PROPERTY HIGHLIGHTS

  • Value-Add Opportunity
  • Excellent DU Location
  • Solid Brick Construction
  • Low Maintenance Exterior Walk-Up
  • Central Gas Boiler System
  • Separately Metered Electric
  • New Windows, Hardwood Floors
  • 1/1 Reserved Parking

OPPORTUNITY

City Lofts is an excellent entry level investment opportunity that is ideally located next to the University of Denver. The 8-Unit Apartment building has professional management in place or new ownership can choose to self-manage and create additional returns. Recent property improvements combined with the overall low maintenance, will allow new ownership to focus on increasing rents to market rates, creating a true value add opportunity in the next 6-12 months.

PROPERTY SUMMARY

Address:

City, State:

County:

Units:

Year:

Buildings:

Building SF:

Lot SF:

Construction:

Type:

Boiler:

Electric:

Roof:

A/C:

Parking:

Unit Mix:

2456 S York Street

Denver, CO

Denver

8

1955

1

3,504 +/-

7,810 +/-

Brick

Outside Walk-Up

Gas, Central

Separate Meters

Pitched Asphalt

Wall Units

1/1 Reserved

8- Studios

PROPERTY DESCRIPTION

City Lofts is a two-story, garden-style building located in southeast Denver just ½ block from the University of Denver. Built in 1955, common area features consist of an attractive blonde brick exterior, newer vinyl windows and staircases, pitched asphalt roof, central boiler system and 1/1 off-street parking. City Lofts features eight large studio units with approximately 400 square feet of living space. There are four units on the main level and four units on the second level. A shared laundry facility, which is owned by the Seller, is located on the main level of the building. Each unit contains a full-size kitchen and bathroom, spacious living area with built in desk and hardwood floors. Additional storage space is provided to residents on the second level.

The mechanical system includes a central cast iron boiler with a newer pump, control valves and many other newer components including a new separate domestic hot water heater. Residents are responsible for paying their own electric to Xcel Energy via individual meters, while the owner currently pays for heat, water, sewer and trash services. Rental rates at City Lofts are below market, which will allow new ownership the ability to create value by increasing rents to market rates within the next 6-12 months.

LOCATION DESCRIPTION

City Lofts is conveniently located at the south-end of the University of Denver near University Boulevard and Interstate I-25. The property is also centrally located, approximately five miles south of Downtown Denver and five miles north of the Denver Tech Center. The University of Denver, with its 12,000+/- student base is a constant source of residents desiring affordable, off-campus housing solutions, within walking distance of the University. Within one block of the property, along University Boulevard, there is a multitude of dining options, fast food retailers, neighborhood bars, coffee shops, convenience stores and other local businesses. Close proximity to major arteries and the University Light Rail Station, City Lofts provides its’ residents with a fantastic and highly desirable location, which will always be in high demand.  

CONTACT US TO LEARN MORE

John Laratta

Senior Director

phone: 303.607.0025

email: john.laratta@berkadia.com

Nick Steele

Senior Director

phone: 303.699.8336

email: nick.steele@berkadia.com

Tyler King

Associate Director

phone: 303.607.0847

email: tyler.king@berkadia.com

Investment sales / real estate brokerage business is conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan banking and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc.

In California, Berkadia Real Estate Advisors Inc. conducts business under CA Real Estate Broker Lic. #01931050, Berkadia Commercial Mortgage LLC under CA Finance Lender & Broker Lic. #988-0701, Berkadia Commercial Mortgage Inc. under CA Real Estate Broker Lic. #01874116.  For state licensing details for the above entities, visit: www.berkadia.com/legal/licensing.aspx

Denver Office

1331 17th Street, Suite 550

Denver, CO 80202 // T. 303.689.8312

© 2018 :: Berkadia

Berkadia® is a trademark of Berkadia Proprietary Holding LLC.