$515,000
$530,000
2.8%For more information regarding the value of a property, please contact us for a free consultation.
4 Beds
2 Baths
1,992 SqFt
SOLD DATE : 11/15/2023
Key Details
Sold Price $515,000
Property Type Multi-Family
Sub Type Multi-Family
Listing Status Sold
Purchase Type For Sale
Square Footage 1,992 sqft
Price per Sqft $258
Subdivision North Park Hill
MLS Listing ID 5755943
Sold Date 11/15/23
Bedrooms 4
Full Baths 2
HOA Y/N No
Originating Board recolorado
Year Built 1953
Annual Tax Amount $2,263
Tax Year 2022
Lot Size 6,098 Sqft
Acres 0.14
Property Description
Introducing a promising investment opportunity in Northeast Park Hill. This 1953 raised brick up/down duplex boasts two separate units, each featuring two bedrooms and one bathroom, with 996 sq. ft. of living space per unit, totaling 1992 sq. ft in the building. The 6250 sq. ft. double lot showcases two trees gracing the front yard. The upper unit showcases cove ceilings, adding character to this investment property. While public records list the apartment address as 3563 Krameria, informally the garden level unit is known as 3561 Krameria. The lower unit enjoys plenty of natural light pouring in through large windows, thanks to its 8ft ceiling height. Each unit has its own gas meters and electrical panels. A shared coin-operated laundry room on the lower level provides an opportunity for additional income. The backyard offers a covered patio, a lawn area, and four off-street parking spaces. The previous owner used this property for Section 8 housing, making $1600 per unit, totaling $3200 per month. With renovations, you can expect rental rates in the range of $2k - $2.5K per unit, significantly increasing your income potential. The neighborhood is witnessing remarkable growth, with a recently remodeled single-family home across the street under contract for $635K, offering almost $100K more for half the space. With updates, I estimated the property could be worth approximately $775K (reference: Listing at 3334 Olive Street, Denver, CO 80207). Don’t miss out on this incredible investment opportunity in a rapidly appreciating area. Contact us today to explore the potential of this duplex and secure your foothold in the thriving Park Hill neighborhood!
Location
State CO
County Denver
Zoning E-SU-DX
Rooms
Basement Daylight, Exterior Entry, Finished, Full, Walk-Out Access
Main Level Bedrooms 2
Interior
Heating Forced Air
Cooling Evaporative Cooling, None
Flooring Laminate, Linoleum, Tile
Fireplace N
Laundry Common Area
Exterior
Exterior Feature Private Yard
Fence Partial
Roof Type Composition
Total Parking Spaces 4
Garage No
Building
Lot Description Near Public Transit
Story Two
Foundation Concrete Perimeter, Raised
Sewer Public Sewer
Water Public
Level or Stories Two
Structure Type Brick
Schools
Elementary Schools Smith Renaissance
Middle Schools Dsst: Conservatory Green
High Schools East
School District Denver 1
Others
Senior Community No
Ownership Estate
Acceptable Financing 1031 Exchange, Cash, Conventional, FHA, VA Loan
Listing Terms 1031 Exchange, Cash, Conventional, FHA, VA Loan
Special Listing Condition None, Third Party Approval
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