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(720) 432-8695
New Horizons Real Estate
768 S Lincoln St, Denver, CO 80209
- $950,000
- 4
- BD
- 4
- BA
- 1,981
- SqFt
- List Price
- $950,000
- Status
- ACTIVE
- MLS#
- 6883828
- Year Built
- 1900
- Bedrooms
- 4
- Bathrooms
- 4
- Living Area
- 1,981
- Region
- Metro Denver
- Subdivision
- Washington Park West
Property Description
Rare West Wash Park fourplex priced below recent comps. 768 S Lincoln St offers four renovated units in one of Denver's most sought-after rental neighborhoods, at $237,500 per unit against a recent comparable-sale average of more than $340,000 per unit. The building has a history of staying full, with strong, consistent rental demand. The unit mix is two 2-bed/1-bath units and two 1-bed/1-bath units. The units were renovated with updated kitchens and baths, so a new owner has minimal near-term capital needs. Current rents produce a 5.50% cap rate at list price, with upside to a 6.04% pro forma as rents move to market. Location drives the demand. The property is just a short walk from the I-25 & Broadway light rail station, one of Denver's busiest transit hubs, and close to Washington Park, the South Broadway shops and restaurants, and quick routes to Downtown and I-25. Residents also have off-street parking, on-site laundry, basement storage and a fenced shared patio. A turnkey, fully leased asset with in-place income and room to grow, well suited to a 1031 exchange or a first step into small multifamily. Offering memorandum, rent roll and financials available upon request. Please do not disturb tenants. All showings by appointment with listing broker only.
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Additional Information
- Taxes
- $3,356
- School District
- Denver District 1
- Elementary School
- Lincoln
- Middle School
- Hill
- High School
- South
- Heating
- Radiant
- Cooling
- Window/Wall
- Utilities
- Master Metered, Separate Meters
- Garage Spaces
- 8
- Tenant Pays
- Electricity
- Zoning
- U-TU-B2
Listing courtesy of Jules "J.B." Hochman.
jb@brockman.group,303-668-4930
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