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Multifamily

85 18th Avenue

85 18th Avenue, Brighton, CO 80601

Listing Price: $875,000

Cap Rate
6.80%
Number of Units
5
GRM
10.57
Occupancy
95.0%
Price/Unit
$175,000

Investment Overview

Built in 1972, 85 South 18th Avenue is a five-unit townhome community located in Brighton, Colorado, a growing city located 15 minutes northwest of Denver International Airport and 30 minutes northeast of downtown Denver. Each of the five are two-story, two-bedroom / one-bath units with front and rear entrances. Each unit has washer/dryer hook-ups, HVAC, and double pane windows. Two of the units have been renovated with hard surface flooring and updated kitchens and bathrooms.

Each unit has its own furnace and air conditioning unit and is individually metered for gas and electricity. There are individual water heaters for each unit that have recently been replaced. There is off-street parking and no landscaping to maintain. The building exterior is brick with siding on the upper half. The roof is a slopped TPO rubber membrane. The crawl space runs the length of the building, providing easy access to mechanicals and plumbing. The property is very well-maintained with upside in renovating the other three units when they vacate.

Investment Highlights

  • 6.8% Cap Rate Going into 2024; 7.3% Pro Forma
  • All Two-Bedroom / One-Bathroom Townhome Units
  • Central HVAC, Washer/Dryer Hook-Ups, and Front & Rear Entrances
  • Individually Metered for Gas and Electric; Tenants Pay
  • Double Pane Windows and Newer Water Heaters
  • Off-Street Parking and No Landscaping to Maintain

Exclusively Listed By

Multifamily

85 18th Avenue

Listing Price: $875,000

Cap Rate
6.80%
Number of Units
5
GRM
10.57
Occupancy
95.0%
Price/Unit
$175,000

Investment Highlights

  • 6.8% Cap Rate Going into 2024; 7.3% Pro Forma
  • All Two-Bedroom / One-Bathroom Townhome Units
  • Central HVAC, Washer/Dryer Hook-Ups, and Front & Rear Entrances
  • Individually Metered for Gas and Electric; Tenants Pay
  • Double Pane Windows and Newer Water Heaters
  • Off-Street Parking and No Landscaping to Maintain

Investment Overview

Built in 1972, 85 South 18th Avenue is a five-unit townhome community located in Brighton, Colorado, a growing city located 15 minutes northwest of Denver International Airport and 30 minutes northeast of downtown Denver. Each of the five are two-story, two-bedroom / one-bath units with front and rear entrances. Each unit has washer/dryer hook-ups, HVAC, and double pane windows. Two of the units have been renovated with hard surface flooring and updated kitchens and bathrooms. Each unit has its own furnace and air conditioning unit and is individually metered for gas and electricity. There are individual water heaters for each unit that have recently been replaced. There is off-street parking and no landscaping to maintain. The building exterior is brick with siding on the upper half. The roof is a slopped TPO rubber membrane. The crawl space runs the length of the building, providing easy access to mechanicals and plumbing. The property is very well-maintained with upside in renovating the other three units when they vacate.

Exclusively Listed By

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