$880,000
$850,000
3.5%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
4 Baths
1,876 SqFt
SOLD DATE : 11/23/2021
Key Details
Sold Price $880,000
Property Type Multi-Family
Sub Type Quadplex
Listing Status Sold
Purchase Type For Sale
Square Footage 1,876 sqft
Price per Sqft $469
Subdivision Capitol Hill
MLS Listing ID 2914180
Sold Date 11/23/21
Style Victorian
Bedrooms 4
HOA Y/N No
Originating Board recolorado
Year Built 1892
Annual Tax Amount $3,223
Tax Year 2021
Lot Size 2,613 Sqft
Acres 0.06
Property Description
1138 Clarkson is a 4-Unit building which features an attractive unit mix that consists of one studio, two 1Br/1Ba and one 2Br/1Ba apartment. The property presents plenty of value-add opportunity as the owner currently occupies the 2br/1ba unit, the studio is vacant and and the 2 one-bedrooms are renting for an average of just $540/month. These 2 one-bedroom units can easily be rented for over $1,100 with no work to the apartments - the Seller has kept the rents low because she is the kindest landlord in Capitol Hill! There are two leases in place - one is month to month and the second expires 1/31/22. An investor can cashflow a well-kept building in an A+ location or make cosmetic updates to the units and increase rents and value considerably. With little to no work, this will be above a 5.5% CAP rate by February. Common area laundry in the basement, a large communal backyard and 4 parking spaces round out this investment opportunity.
Location
State CO
County Denver
Zoning G-MU-3
Rooms
Basement Unfinished
Interior
Heating Forced Air
Cooling None
Flooring Carpet, Tile, Wood
Fireplaces Number 1
Fireplace Y
Laundry Common Area
Exterior
Exterior Feature Private Yard
Fence Full
Utilities Available Electricity Connected, Natural Gas Connected, Phone Available
Roof Type Architecural Shingle
Total Parking Spaces 4
Garage No
Building
Story Three Or More
Sewer Public Sewer
Water Public
Level or Stories Three Or More
Structure Type Brick
Schools
Elementary Schools Dora Moore
Middle Schools Dora Moore
High Schools East
School District Denver 1
Others
Senior Community No
Ownership Individual
Acceptable Financing 1031 Exchange, Cash, Conventional
Listing Terms 1031 Exchange, Cash, Conventional
Special Listing Condition None
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