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Multifamily

127 South 18th Avenue

127 South 18th Avenue, Brighton, CO 80601

Listing Price: $845,000

Cap Rate
5.36%
Number of Units
4
Occupancy
95.0%
Price/Unit
$211,250
Price/Gross SF
$234.72
Gross SF
3,600

Investment Overview

127 S. 18th is a four-unit apartment community centrally located in Brighton, Colorado. Brighton is considered one of the strongest and fastest growing rental markets in the Denver metropolitan area. Built in 1971, this building has an all-brick exterior, pitched roof replaced in 2018, in-ground sprinkler system, detached storage shed, and off-street parking. All units are two-bedroom/ one-bathroom with large 900SF floor plans, front and rear entrances in upper units, and eat-in kitchens with larger pantries. Most of the units have updated kitchens and bathrooms, hard surface flooring, and double-pane vinyl windows, There is an on-site common-area laundry for residents. The machines there could easily be switched out for coin-operated machines, producing additional income. All units are individually metered for electric and residents pay directly. The building has a central boiler and water heater, which provides heat and hot water to the units. The owner pays the gas, water, and sewer usage. Brighton is small city of approximately 42,000 (2019) located along the South Platte River. Situated 20 miles north of downtown, it is considered a suburb of metropolitan Denver but has its own unique history and identity. The city's population has almost doubled since 2000 and is expected to grow another 20% by 2025. Historically a farming community, manufacturing and retail have grown steadily over the last few decades, most notably with the opening of two Vestas manufacturing plants that build wind turbine blades and nacelles. Job growth, a young population, and a growing need for multifamily housing options have combined to create a strong rental market in the city and excellent opportunities for multifamily investors.

Investment Highlights

  • Well-Maintained Multifamily Property with Strong Cashflow
  • All Large Two-Bedroom (900 SF) Units
  • Updated Units with Hard Surface Flooring
  • New Pitched Roof in 2018; Most Windows are Newer Double-Pane Vinyl
  • On-Site Laundry; Off-Street Parking; In-Ground Sprinklers
  • Strong Brighton Rental Market

Exclusively Listed By

Listing Price: $845,000

Cap Rate
5.36%
Number of Units
4
Occupancy
95.0%
Price/Unit
$211,250
Price/Gross SF
$234.72
Gross SF
3,600

Investment Highlights

  • Well-Maintained Multifamily Property with Strong Cashflow
  • All Large Two-Bedroom (900 SF) Units
  • Updated Units with Hard Surface Flooring
  • New Pitched Roof in 2018; Most Windows are Newer Double-Pane Vinyl
  • On-Site Laundry; Off-Street Parking; In-Ground Sprinklers
  • Strong Brighton Rental Market

Investment Overview

127 S. 18th is a four-unit apartment community centrally located in Brighton, Colorado. Brighton is considered one of the strongest and fastest growing rental markets in the Denver metropolitan area. Built in 1971, this building has an all-brick exterior, pitched roof replaced in 2018, in-ground sprinkler system, detached storage shed, and off-street parking. All units are two-bedroom/ one-bathroom with large 900SF floor plans, front and rear entrances in upper units, and eat-in kitchens with larger pantries. Most of the units have updated kitchens and bathrooms, hard surface flooring, and double-pane vinyl windows, There is an on-site common-area laundry for residents. The machines there could easily be switched out for coin-operated machines, producing additional income. All units are individually metered for electric and residents pay directly. The building has a central boiler and water heater, which provides heat and hot water to the units. The owner pays the gas, water, and sewer usage. Brighton is small city of approximately 42,000 (2019) located along the South Platte River. Situated 20 miles north of downtown, it is considered a suburb of metropolitan Denver but has its own unique history and identity. The city's population has almost doubled since 2000 and is expected to grow another 20% by 2025. Historically a farming community, manufacturing and retail have grown steadily over the last few decades, most notably with the opening of two Vestas manufacturing plants that build wind turbine blades and nacelles. Job growth, a young population, and a growing need for multifamily housing options have combined to create a strong rental market in the city and excellent opportunities for multifamily investors.

Exclusively Listed By

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