Investment Overview

Marcus & Millichap is pleased to present Monaco South, a 220-unit, multifamily community located at the intersection of South Monaco Parkway and Iliff Avenue in East Denver. Originally constructed in 1971, Monaco South offers a compelling blend of scale, location, and operational upside, supported by over $3.6 million in recent capital improvements and strong submarket fundamentals. The property benefits from high visibility at the northeast corner of South Monaco Parkway and Iliff Avenue, with immediate proximity to I-25 providing seamless access to Downtown Denver, the Denver Tech Center, Cherry Creek, and the broader metro area. Monaco South features a desirable unit mix of 69% one-bedrooms and 31% two-bedrooms, with an average unit size of 744 square feet. The community has undergone substantial renovations, with 96% of the units updated along with extensive improvements to common areas and building systems, including new HVAC systems, boiler and elevator upgrades, clubhouse and fitness center remodels, catwalk and stair repairs, outdoor kitchen installation, and refreshed signage. These updates position the property to operate with minimal deferred maintenance and allow a new owner to focus on operational efficiencies and targeted rent growth. The property’s robust amenity package includes two swimming pools, a fitness center, clubhouse, business center, dog park, playground, covered parking, and more—setting it apart from many competitors in the area. Residents also benefit from proximity to an abundance of retail, dining, and entertainment options including University Hills Plaza, Tamarac Square, Tiffany Plaza, and the Colorado Boulevard commercial corridor—all located within a 5- to 10-minute drive. Glendale–University submarket is a premier destination for affordable, high-quality workforce housing. Monaco South’s combination of quality finishes, exceptional amenities, and unmatched access to major employment and retail hubs positions it to attract long-term residents and capitalize on continued demand and future rent growth.