3100 W 18th Ave. is a 4-unit apartment building built in 1957, brick construction, set on a spacious corner lot zoned G-MU-3 just minutes from Sloan’s Lake and Empower Field at Mile High. Property is composed of 2 – 1Bd/1Ba (garden level) and 2 – 2Bd/1Ba units (ground floor). Both 2Bd/1Ba units have their own front and back entrances, and one has a private fenced-in backyard with a covered patio. Beyond the patio, a large, shared backyard gives tenants plenty of outdoor space. The top two units on the ground floor are heated via gas furnaces, both of which are located on the garden level, the bottom units are heated via electric baseboard heat. There is on-site shared laundry located in the garden-level.
One unit has been fully renovated. The remaining three are in average condition and rent well as they are, but each presents a clear opportunity for a full renovation that would support top of market rents for the location. The property appeals to a wide range of buyers. As a corner lot zoned G-MU-3 in a highly desirable location, it is a strong candidate for development. Owner-users can live in one unit and rent out the rest. Experienced investors can add it to an existing multifamily portfolio as a solid long-term hold with built-in upside.
