Investment Overview

Marcus and Millichap is pleased to exclusively market for sale The Detroit and Detroit Terraces. The offering consists of two multifamily properties located in the City Park neighborhood. The Detroit is a 30-unit multifamily complex which was a historic building that was built in 1926 but completely renovated in 2012 as part of an adaptive reuse project. The capital improvements include windows, roof, electrical, common areas, and interior unit finishes. The unit mix consists of nine studios, sixteen one-bedroom/one-bathroom units, two two-bedroom/one-bathroom units, and three two-bedroom/two-bathroom units. The unit finishes include vinyl plank flooring, updated kitchens, and bathrooms, 13’ ceilings, individual AC units, and exposed brick walls. The Detroit Terraces is a 50-unit complex that was built in 2016 and consists of thirty-one large studios, fourteen one-bedroom/one-bathroom units, and five two-bedroom/two-bathroom units. The unit finishes are modern with vinyl plank flooring, designer kitchens with shaker style cabinets, quartz/granite countertops, stainless steel appliances, Juliette balconies, 9’ ceilings, large bathrooms with walk in showers, ample closet and storage space, ceiling fans, and in-unit washer and dryer. The Terraces amenities include a rooftop patio with lounge chairs, firepits and grills, garage parking, bike and motorcycle storage, a fitness center, and a game room with shuffleboard. The City Park neighborhood is filled with historical character and extremely walkable with a walking score of 90 and a bike score of 96. There are ample choices of restaurants, bars, grocery stores, bakeries, and breweries for residents to enjoy. The Detroit and Detroit Terraces are centrally located but also provide easy access to downtown Denver and surrounding areas via I25 and I70.