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551 S Fairfax St.

Denver, Colorado 80246

CONTACT BROKER
Price
$2,900,000
Property Type
Multifamily
# of Units
13
Building Size
10,620 SQFT
Lot Size
6,795 SQFT
Year Built
1961

Description

551 S Fairfax St. is a unique value add opportunity with proven upside in a desirable location. The building is a diverse mix of (2) premium studios, (6) one beds, and (5) two beds. There have been extensive updates to major systems including roof, boiler, electrical, windows, and more.

The subject property falls into Arapahoe County, City of Glendale, & highly desirable Cherry Creek School District. Tenants enjoy the recently renovated Glendale Park with pickleball courts directly adjacent to the property as well as nearby shopping and dining in Cherry Creek.

This deal has attractive Seller financing available with 71% LTV and 4% interest. In addition, there are a few renovated units that prove a path to value add. For the right investor, this is a great opportunity to buy a well located deal with strong in place cash flow and proven upside potential.

Highlights

  • Attractive Seller financing at 71% LTV and 4% interest
  • Proven value add strategy; proforma rents already being achieved!
  • Extensive recent updates including roof, boiler, electrical, windows, parking lot, exterior paint, landscaping, and more
  • Subject property falls into Arapahoe County, City of Glendale, & highly desirable Cherry Creek School District
  • Desirable location easily accessible to shopping/ dining in Cherry Creek; directly adjacent to renovated Glendale park with pickleball courts
  • Premium rooftop unit with private patio
  • Copper wiring and copper plumbing

Brokers

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Hunter Schaefer

. Senior Advisor
(925) 989-8930.
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Jack Sherman

. Senior Advisor
(303) 903-9638.

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