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The Glenellen Apartments 1432 Pennsylvania St 8 Unit Apartment Building $3,627,780 CAD ($453,473 CAD/Unit) 5.20% Cap Rate Denver, CO 80203
Investment Highlights
- RARE ASSUMABLE FINANCING AT 3.79% FIXED, INTEREST-ONLY THROUGH MAY 2031
- BUILT BACK FROM THE STUDS IN 2010 – NEWER PLUMBING AND ELECTRICAL
- FIVE PRIVATE GARAGE SPACES - A HIGHLY DIFFERENTIATED AMENITY IN AN URBAN SUBMARKET WHERE OFF-STREET PARKING IS SCARCE
- EIGHT LARGE CONDO-STYLE 2BD/2BA UNITS WITH OFFICE NOOKS
- TURN-KEY ASSET - UPGRADED WITH DESIGNER LVP FLOORING, NEW KITCHENS, UPDATED BATHS, STAINLESS APPLIANCES, IN-UNIT WASHER/DRYER, AND MODERN LIGHTING
- POTENTIAL FOR CONDO CONVERSION AND/OR ADU ADDITIONS
Executive Summary
3.79% Assumable IO Loan through May 2031 | $82K Cash Flow | 6.8% Total Return
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$260,763
|
$30.10
|
| Other Income |
$24,627
|
$2.84
|
| Vacancy Loss |
$13,038
|
$1.50
|
| Effective Gross Income |
$272,351
|
$31.43
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$83,796
|
$9.67
|
| Net Operating Income |
$188,556
|
$21.76
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $260,763 |
| Annual Per SF | $30.10 |
| Other Income (CAD) | |
|---|---|
| Annual | $24,627 |
| Annual Per SF | $2.84 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $13,038 |
| Annual Per SF | $1.50 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $272,351 |
| Annual Per SF | $31.43 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $83,796 |
| Annual Per SF | $9.67 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $188,556 |
| Annual Per SF | $21.76 |
Property Facts
| Price | $3,627,780 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $453,473 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.14 AC |
| Cap Rate | 5.20% | Building Size | 8,013 SF |
| No. Units | 8 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1919/2010 |
| Property Subtype | Apartment | Parking Ratio | 0.62/1,000 SF |
| Zoning | G-RO-5 | ||
| Price | $3,627,780 CAD |
| Price Per Unit | $453,473 CAD |
| Sale Type | Investment |
| Cap Rate | 5.20% |
| No. Units | 8 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.14 AC |
| Building Size | 8,013 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1919/2010 |
| Parking Ratio | 0.62/1,000 SF |
| Zoning | G-RO-5 |
Amenities
Unit Amenities
- Air Conditioning
- Dishwasher
- Disposal
- Microwave
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Kitchen
- Refrigerator
- Range
Site Amenities
- 24 Hour Access
- Controlled Access
- Fenced Lot
- Tenant Controlled HVAC
- Public Transportation
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+2 | 8 | - | 890 - 925 |
1 1
Moderately walkable
70/100
Moderately drivable
60/100
Strong public transit
80/100
Moderately bikeable
60/100
Property Taxes
| Parcel Number | 5031-03-004 | Improvements Assessment | $52,516 CAD |
| Land Assessment | $52,516 CAD | Total Assessment | $226,145 CAD |
Property Taxes
Parcel Number
5031-03-004
Land Assessment
$52,516 CAD
Improvements Assessment
$52,516 CAD
Total Assessment
$226,145 CAD
Contacts
-
Luke Salazar -
Jim Knowlton -
Chris Knowlton -
Jennifer King -
Pinnacle Real Estate Advisors
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The Glenellen Apartments | 1432 Pennsylvania St
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