44 S Sherman Street
Denver, CO 80209
8998 sqft | 0.15 acres | #4847818
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!
Property Details
- Utility FeaturesCable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected
- Lot DescriptionNear Public Transit
- Exterior MaterialsBalcony, Lighting
- Structure TypeLow Rise (1-3)
- Sewer InformationPublic Sewer
- Property SubtypeMulti-Family
- Original List Price$2,900,000
- Property TypePurchase
- Taxes Annual$18,265
- MLS #4847818
- Cost2900000
- MLS #4847818
- Utility SourcePublic
- CountyDenver
- Acres0.15
- Square Feet8998
- Year Built1960
Location
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Last Updated: . Source: RECOLORADO
Listing Courtesy
Listing Agent: Kevin Bunnell (#REC928425)
Listing Office: Bunnell Real Estate Services (#RECMB040)
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