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The Elmira Apartments 2846 Federal Blvd 25 Unit Apartment Building $5,533,560 CAD ($221,342 CAD/Unit) 6.33% 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
JUST LISTED! Renovated 25-Unit Apt Bldg in Highlands; Just $160k/Unit!
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$470,878
|
$46.38
|
| Other Income |
$62,791
|
$6.19
|
| Vacancy Loss |
$26,683
|
$2.63
|
| Effective Gross Income |
$506,986
|
$49.94
|
| Taxes |
$38,711
|
$3.81
|
| Operating Expenses |
$160,358
|
$15.80
|
| Total Expenses |
$199,070
|
$19.61
|
| Net Operating Income |
$307,916
|
$30.33
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $470,878 |
| Annual Per SF | $46.38 |
| Other Income (CAD) | |
|---|---|
| Annual | $62,791 |
| Annual Per SF | $6.19 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $26,683 |
| Annual Per SF | $2.63 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $506,986 |
| Annual Per SF | $49.94 |
| Taxes (CAD) | |
|---|---|
| Annual | $38,711 |
| Annual Per SF | $3.81 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $160,358 |
| Annual Per SF | $15.80 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $199,070 |
| Annual Per SF | $19.61 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $307,916 |
| Annual Per SF | $30.33 |
PROPERTY FACTS
| Price | $5,533,560 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $221,342 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.33% | 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 | $5,533,560 CAD |
| Price Per Unit | $221,342 CAD |
| Sale Type | Investment |
| Cap Rate | 6.33% |
| 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 | $1,612 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 | $480,953 CAD (2024) |
| Land Assessment | $58,909 CAD (2024) | Annual Taxes | $38,711 CAD ($3.81 CAD/SF) |
| Improvements Assessment | $422,044 CAD (2024) | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
2294-20-001
Land Assessment
$58,909 CAD (2024)
Improvements Assessment
$422,044 CAD (2024)
Total Assessment
$480,953 CAD (2024)
Annual Taxes
$38,711 CAD ($3.81 CAD/SF)
Tax Year
2025
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The Elmira Apartments | 2846 Federal Blvd
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