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Multifamily

Main Street Duplexes

209, 217, & 233 South Main Street, Brighton, CO 80601

Listing Price: $1,170,000

Cap Rate
5.45%
Occupancy
95.0%

Investment Overview

209, 217, and 233 South Main Street is a rare opportunity to own three contiguous duplexes (six total units) in downtown Brighton, Colorado. All three buildings are up/down duplexes built in 1914 with newer pitched roofs, front and rear entrances on the upper levels and walk-out lower level units. The total unit mix is four two-bedroom / one-bath units and two one-bedroom / one-bath units. All units have been updated with hard surface flooring and have remodeled kitchens and bathrooms. Units in each building are individually metered for gas and electric usage which is paid directly by the residents. The buildings at 209 and 217 South Main Street have individual laundry hook-ups each of the units while 233 South Main Street has a shared area for laundry. There is a one-car garage behind 233 South Main Street and plenty of off-street parking for all of the buildings. These three parcels total 0.54 acres and while the properties currently operate as multifamily, the flexible downtown zoning allows for commercial/business use as well. These centrally-located properties border Main Street (180 feet of frontage) on the east and Pavilion Place on the west where there are multiple restaurants and the AMC movie theatre. 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

  • Three Contiguous Duplexes in Downtown Brighton
  • Great Unit Mix of One- and Two-Bedroom Units
  • Updated Kitchens and Bathrooms; Hard Surface Flooring Throughout
  • Individually Metered for Gas and Electric
  • Walkable Downtown Area; Close to Restaurants and Businesses
  • Flexible Downtown Zoning; Easily Converted to Commercial Use

Exclusively Listed By

Listing Price: $1,170,000

Cap Rate
5.45%
Occupancy
95.0%

Investment Highlights

  • Three Contiguous Duplexes in Downtown Brighton
  • Great Unit Mix of One- and Two-Bedroom Units
  • Updated Kitchens and Bathrooms; Hard Surface Flooring Throughout
  • Individually Metered for Gas and Electric
  • Walkable Downtown Area; Close to Restaurants and Businesses
  • Flexible Downtown Zoning; Easily Converted to Commercial Use

Investment Overview

209, 217, and 233 South Main Street is a rare opportunity to own three contiguous duplexes (six total units) in downtown Brighton, Colorado. All three buildings are up/down duplexes built in 1914 with newer pitched roofs, front and rear entrances on the upper levels and walk-out lower level units. The total unit mix is four two-bedroom / one-bath units and two one-bedroom / one-bath units. All units have been updated with hard surface flooring and have remodeled kitchens and bathrooms. Units in each building are individually metered for gas and electric usage which is paid directly by the residents. The buildings at 209 and 217 South Main Street have individual laundry hook-ups each of the units while 233 South Main Street has a shared area for laundry. There is a one-car garage behind 233 South Main Street and plenty of off-street parking for all of the buildings. These three parcels total 0.54 acres and while the properties currently operate as multifamily, the flexible downtown zoning allows for commercial/business use as well. These centrally-located properties border Main Street (180 feet of frontage) on the east and Pavilion Place on the west where there are multiple restaurants and the AMC movie theatre. 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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