Description
The Mason is a stately multifamily asset located next door to Whole Foods’ Ideal Market in Denver’s Capitol Hill neighborhood, just steps to Cheesman Park. The Buyer will benefit from positive leverage (rare in today’s market) with the $6,050,000 assumable loan through Freddie Mac at 3.12%, fixed through May 2031.
With 42 one-bedrooms and 2 two-bedrooms, The Mason will attract tenants wanting to be in the center of the action at the most recognizable intersection in Capitol Hill, while also offering tenants who commute to work access to 22 off-street parking spaces. Built in 1966, the property has copper plumbing and modern electric service behind the walls which makes this a very low-maintenance building with predictable cashflow.
Recent capital improvements include new exterior paint, new windows, fully remodeled hallways and common areas, new flooring and stainless-steel appliances in most units, a Butterfly entry system, and an “Amazon Hub” package delivery station just inside the front door. Tenants also enjoy a community courtyard with a built-in grill and firepit.
Units feature air conditioning, dishwashers, disposals, hard surface flooring, and access to laundry facilities on each floor. Rents have been on the rise amid common area renovations and will continue even higher with future cosmetic improvements to the kitchens and bathrooms.
Highlights
- 3.12% Assumable Loan Fixed Until May 2031
- Tenant Courtyard with Grill, Seating & Firepit
- Renovated Common Areas
- Vinyl Windows Throughout
- Located Directly Next to Whole Foods’ Ideal Market
- 22 Off-Street Parking Spaces
Brokers
Conner Piretti
. Senior Advisor(303) 818-1805.Conner@NorthPeakCRE.com
