Investment Overview

Marcus & Millichap is pleased to present Boulevard Park Apartments, a 103-unit multifamily community located at 2449 S Colorado Boulevard in the heart of Denver, Colorado. Built in 1960, this garden-style property offers a compelling mix of generously sized studio, one-, two-, and three-bedroom units in a submarket that continues to exhibit strong rental performance, high barriers to entry, and limited multifamily supply. The property features 17 studio units (432 SF), 29 one-bedroom units (672 SF), 43 two-bedroom units (1,021 SF) and 14 three-bedroom units (1,125 SF), with two- and three-bedroom units exceeding the average unit sizes for comparable Denver assets. These larger floor plans are particularly attractive to renters seeking additional space in a central urban location. Boulevard Park benefits from its proximity to some of Denver’s most affluent residential neighborhoods, with single-family home prices in the adjacent Observatory Park neighborhood averaging over $2.78 million. This dynamic supports strong renter-by necessity demand, especially for spacious rental units that serve as viable alternatives to high-priced homeownership. Furthermore, there are few competing rental properties in the immediate vicinity, allowing Boulevard Park to capture strong tenant demand without oversupply pressures. The property’s location on South Colorado Boulevard offers residents access to an abundance of retail, restaurant, and entertainment options along one of Denver’s most active commercial corridors. Key destinations such as Cherry Creek, the University of Denver, and I-25 are minutes away, providing seamless access to major employment centers including downtown Denver and the Denver Tech Center. In-place cash flow, combined with the opportunity to modernize unit interiors and common areas, creates an attractive acquisition opportunity of a stabilized asset that still offers value-add potential. With its irreplaceable location, strong market fundamentals, and built-in upside, Boulevard Park Apartments presents an outstanding acquisition opportunity in one of Denver’s most stable and affluent rental corridors.