5-Unit Multifamily for Sale in Denver's Capitol Hill – 1235 N Pennsylvania St, 6.62% Cap

We are offering 1235 North Pennsylvania Street in Denver, Colorado, a five-unit multifamily property of about 4,520 square feet, for $975,000, or about $216 per square foot. The building was constructed in 1904 on a 6,250 square foot lot zoned G-MU-5.

The unit mix includes four one-bedroom, one-bath apartments and one studio, plus a separate art studio that is not counted in the unit total and provides extra income.

The property generates about $91,619 in gross operating income and $64,557 in net operating income, a 6.62 percent current cap rate. Income comes from rents, RUBS, laundry and miscellaneous fees, and modest rent growth brings the proforma to about $68,232 in net operating income, a 7.00 percent cap rate.

The building is in Capitol Hill, close to Downtown Denver, Civic Center Park and Cheesman Park. Contact Andy Monette of Pinnacle Real Estate Advisors for the offering memorandum and rent roll.