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477 N Pennsylvania St 4 Unit Apartment Building $929,401 CAD ($232,350 CAD/Unit) 5.15% Cap Rate Denver, CO 80203
EXECUTIVE SUMMARY
477 Pennsylvania St. offers an exceptional value-add opportunity in the heart of Denver’s Alamo Placita Historic District. Priced to sell, this charming 4-unit building consists of three 1-bedroom apartments and one studio. Each residence offers comfortable layouts with strong rental demand driven by the property’s central location near Broadway, Speer, Downtown and Cherry Creek. Well-maintained under the same ownership since 1996, the property presents clear upside for a new owner to add value through upgrades to the apartments or a complete reconfiguration of the building. Surrounded by historic homes on a quiet block, it’s priced accordingly for those seeking either a stable 4-unit
investment or the opportunity to reimagine it as a signature single-family residence.
investment or the opportunity to reimagine it as a signature single-family residence.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$71,461
|
$31.59
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$2,144
|
$0.95
|
| Effective Gross Income |
$69,317
|
$30.64
|
| Taxes |
$5,791
|
$2.56
|
| Operating Expenses |
$15,651
|
$6.92
|
| Total Expenses |
$21,442
|
$9.48
|
| Net Operating Income |
$47,874
|
$21.16
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $71,461 |
| Annual Per SF | $31.59 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $2,144 |
| Annual Per SF | $0.95 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $69,317 |
| Annual Per SF | $30.64 |
| Taxes (CAD) | |
|---|---|
| Annual | $5,791 |
| Annual Per SF | $2.56 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $15,651 |
| Annual Per SF | $6.92 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $21,442 |
| Annual Per SF | $9.48 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $47,874 |
| Annual Per SF | $21.16 |
PROPERTY FACTS Under Contract
| Price | $929,401 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $232,350 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.07 AC |
| Cap Rate | 5.15% | Building Size | 2,262 SF |
| No. Units | 4 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 2 |
| Property Subtype | Apartment | Year Built | 1908 |
| Zoning | U-SU-B1 | ||
| Price | $929,401 CAD |
| Price Per Unit | $232,350 CAD |
| Sale Type | Investment |
| Cap Rate | 5.15% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.07 AC |
| Building Size | 2,262 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1908 |
| Zoning | U-SU-B1 |
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 3 | $1,859 CAD | 500 |
| Studios | 1 | $998.25 CAD | 400 |
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