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The Elmira Apartments 2846 Federal Blvd 25 Unit Apartment Building $4,911,524 CAD ($196,461 CAD/Unit) 6.96% Cap Rate Denver, CO 80211
Investment Highlights
- 6.96% Actual CAP Rate (Trailing 12 Months)
- Superb Location in the Highlands Directly Across from Viking Park
- Rental Upside: Proforma Rents Already Being Achieved or Surpassed in 60% of the Units
- Beautifully Renovated, Turn-Key Asset Including New: Electrical, Plumbing, HVAC, Kitchens, Bathrooms, Windows, Interior Hallways & Exterior Paint
- Excellent Neighborhood Demographics: $124,672 Average Household Income within a Two Mile Radius
- Walk Score: 92 - Short Distance Public Transportation, Parks, Shopping, Restaurants & Entertainment
Executive Summary
Major Price Change: 25 Units in the Highlands; 6.96% Actual T12 CAP Rate!
Financial Summary (Actual - 2026) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$450,477
|
$44.37
|
| Other Income |
$57,104
|
$5.62
|
| Vacancy Loss |
$30,443
|
$3.00
|
| Effective Gross Income |
$477,139
|
$47.00
|
| Taxes |
$39,325
|
$3.87
|
| Operating Expenses |
$96,044
|
$9.46
|
| Total Expenses |
$135,368
|
$13.33
|
| Net Operating Income |
$341,770
|
$33.67
|
Financial Summary (Actual - 2026)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $450,477 |
| Annual Per SF | $44.37 |
| Other Income (CAD) | |
|---|---|
| Annual | $57,104 |
| Annual Per SF | $5.62 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $30,443 |
| Annual Per SF | $3.00 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $477,139 |
| Annual Per SF | $47.00 |
| Taxes (CAD) | |
|---|---|
| Annual | $39,325 |
| Annual Per SF | $3.87 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $96,044 |
| Annual Per SF | $9.46 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $135,368 |
| Annual Per SF | $13.33 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $341,770 |
| Annual Per SF | $33.67 |
Property Facts
| Price | $4,911,524 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $196,461 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.96% | 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 | $4,911,524 CAD |
| Price Per Unit | $196,461 CAD |
| Sale Type | Investment |
| Cap Rate | 6.96% |
| 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 | $1,502 CAD | 350 |
1 1
Moderately walkable
60/100
Exceptionally drivable
100/100
Good public transit
70/100
Fairly bikeable
50/100
Property Taxes
| Parcel Number | 2294-20-001 | Total Assessment | $539,099 CAD (2025) |
| Land Assessment | $67,924 CAD (2025) | Annual Taxes | $39,325 CAD ($3.87 CAD/SF) |
| Improvements Assessment | $67,924 CAD (2025) | Tax Year | 2026 |
Property Taxes
Parcel Number
2294-20-001
Land Assessment
$67,924 CAD (2025)
Improvements Assessment
$67,924 CAD (2025)
Total Assessment
$539,099 CAD (2025)
Annual Taxes
$39,325 CAD ($3.87 CAD/SF)
Tax Year
2026
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The Elmira Apartments | 2846 Federal Blvd
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