Investment Overview

Berkshire Square is a 126-unit multifamily community located at 2617, 2647, and 2667 W Evans Avenue in the College View neighborhood of southwest Denver. Built in 1972-1974, the property offers 65,812 rentable square feet across a 2.41-acre site and features an efficient mix of 97 one-bedroom units and 29 two-bedroom units. Floor plans average 522 square feet, with larger units exceeding 700 square feet, making the asset well-suited to a diverse tenant base ranging from students and young professionals to families and long-term renters. Berkshire Square’s location offers superior access to employment, education, and retail centers. Positioned approximately six miles southwest of Downtown Denver and three miles from the University of Denver, the property benefits from proximity to I-25, US-285, and RTD transit lines, including frequent bus routes and nearby light rail stations. Residents enjoy walkable access to neighborhood retail, dining options, Ruby Hill Park, and multiple schools, all contributing to high livability and long-term renter retention. The surrounding submarket is characterized by high barriers to homeownership and strong demographics. The average household income within a one-mile radius exceeds $90,000, while the median home sale price in the area is over $440,000, resulting in ownership costs that are more than twice as high as the average rents at Berkshire Square. This affordability gap supports enduring rent-by-necessity demand and mitigates long-term downside risk. Operationally, the property generates over $1.54 million in effective gross income, with a year-one net operating income of $833,000 based on market rents. Current in-place rents average $1,187 per unit, while market rents support an average of $1,211, creating an approximate 2.0% loss-to-lease and more than $249,000 in achievable upside through lease renewals and implementation of utility bill-back and other income generation. Competing assets in the immediate submarket capture utility bill-back and other income, validating the upside of Berkshire Square via the implementation of moderate utility bill-back equal to 75% of utility expense. With its strategic infill location, durable 1970s construction, stable in-place income, and a clear path to increased revenue through operational efficiency and other income generation, Berkshire Square presents a compelling opportunity to acquire a well-located, cash-flowing multifamily asset with long-term growth potential in one of Denver’s most supply-constrained and demand-driven rental markets.