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The Elmira Apartments 2846 Federal Blvd 25 Unit Apartment Building $5,300,100 CAD ($212,004 CAD/Unit) 6.03% Cap Rate Denver, CO 80211
Investment Highlights
- Beautifully Renovated, Turn-Key Asset Including New: Electrical, Plumbing, HVAC, Kitchens, Bathrooms, Windows, Interior Hallways, Paint & Landscaping
- Excellent Neighborhood Demographics: $124,672 Average Household Income within a Two Mile Radius
- Walk Score: 92 - Short Distance Public Transportation, Parks, Shopping, Restaurants & Entertainment
- Superb Location in the Highlands Directly Across from Viking Park
- Rental Upside: Proforma Rents Already Being Achieved or Surpassed in 60% of the Units
- One Mile to Downtown Denver
Executive Summary
PRICE REDUCED! Renovated 25-Unit Apt Bldg in Highlands; Just $156k/Unit!
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$454,585
|
$44.78
|
| Other Income |
$59,324
|
$5.84
|
| Vacancy Loss |
$25,696
|
$2.53
|
| Effective Gross Income |
$488,214
|
$48.09
|
| Taxes |
$38,029
|
$3.75
|
| Operating Expenses |
$130,335
|
$12.84
|
| Total Expenses |
$168,364
|
$16.58
|
| Net Operating Income |
$319,850
|
$31.51
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $454,585 |
| Annual Per SF | $44.78 |
| Other Income (CAD) | |
|---|---|
| Annual | $59,324 |
| Annual Per SF | $5.84 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $25,696 |
| Annual Per SF | $2.53 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $488,214 |
| Annual Per SF | $48.09 |
| Taxes (CAD) | |
|---|---|
| Annual | $38,029 |
| Annual Per SF | $3.75 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $130,335 |
| Annual Per SF | $12.84 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $168,364 |
| Annual Per SF | $16.58 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $319,850 |
| Annual Per SF | $31.51 |
Property Facts
| Price | $5,300,100 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $212,004 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.03% | Building Size | 10,152 SF |
| No. Units | 25 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1924/2022 |
| Property Subtype | Apartment | ||
| Zoning | G-MU-5 | ||
| Price | $5,300,100 CAD |
| Price Per Unit | $212,004 CAD |
| Sale Type | Investment |
| Cap Rate | 6.03% |
| No. Units | 25 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 10,152 SF |
| No. Stories | 2 |
| Year Built/Renovated | 1924/2022 |
| Zoning | G-MU-5 |
Amenities
Unit Amenities
- Cable Ready
- Fireplace
- Heating
- Kitchen
- Refrigerator
- Tub/Shower
Site Amenities
- 24 Hour Access
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 25 | $1,556 CAD | 350 |
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Walk Score®
Walker's Paradise (92)
Bike Score®
Very Bikeable (80)
Property Taxes
| Parcel Number | 2294-20-001 | Total Assessment | $515,686 CAD |
| Land Assessment | $64,974 CAD | Annual Taxes | $38,029 CAD ($3.75 CAD/SF) |
| Improvements Assessment | $64,974 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
2294-20-001
Land Assessment
$64,974 CAD
Improvements Assessment
$64,974 CAD
Total Assessment
$515,686 CAD
Annual Taxes
$38,029 CAD ($3.75 CAD/SF)
Tax Year
2025
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The Elmira Apartments | 2846 Federal Blvd
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