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1540 Lowell Blvd Denver, CO 80204
4 Beds
2 Baths
2,200 SqFt
UPDATED:
Key Details
Property Type Multi-Family
Listing Status Coming Soon
Purchase Type For Sale
Square Footage 2,200 sqft
Bedrooms 4
Full Baths 2
Lot Size 4,410 Sqft
Property Description
Located in the desirable Sloans Lake neighborhood of Denver and blocks from Sloans Lake Park, Empower Field at Mile High Stadium, and the Raleigh Street developments, 1540 Lowell Boulevard is a modern up-down duplex and cash flowing opportunity for an investor in search of a 6-7 cap property or site development. The mortgage is currently an assumable FHA loan underwritten in early 2022.
The lot is favorably zoned as a G-MU-3 (G = General Urban, MU = Multi-unit, 3 = 3 stories), providing investors the flexibility to develop this lot however they would like. Link to Denver Zoning Map.
The property currently rents all-in at $5,300 per month and each unit has its own separate entrance. Each unit is a 2BR / 1 BA with a full kitchen, living room, and dining area. Each is about 1,100 square feet.
The mortgage is currently an assumable FHA loan underwritten in early 2022, and the current owners are willing to work with a buyer who would like to assume the existing mortgage. Prospective buyers should research this option on their own to understand the pros and cons. With rates at current levels over 6.5 percent, this may be an appealing option.
Investment has flooded this neighborhood in recent years. New duplex houses were renovated in 2023-2024 on neighboring Morse Street. A half-block north on Lowell are new duplex developments slated to start construction in 2024. New townhomes and four-plexes were developed all in the past 5-10 years. Multi-family properties in this neighborhood do not become available often.
List of recent home renovations:
Upstairs kitchen was renovated in Q2 2022 – new cabinets, new dishwasher, new refrigerator.
All interior paint was re-done in Q2 2022
Exterior landscaping was complete in Q4 2022
Small accessory office to accommodate remote work was installed in the garage in Q1 2023
All carpet was replaced in Q1 2023
Exterior paint was re-done in Q3 2023
The lot is favorably zoned as a G-MU-3 (G = General Urban, MU = Multi-unit, 3 = 3 stories), providing investors the flexibility to develop this lot however they would like. Link to Denver Zoning Map.
The property currently rents all-in at $5,300 per month and each unit has its own separate entrance. Each unit is a 2BR / 1 BA with a full kitchen, living room, and dining area. Each is about 1,100 square feet.
The mortgage is currently an assumable FHA loan underwritten in early 2022, and the current owners are willing to work with a buyer who would like to assume the existing mortgage. Prospective buyers should research this option on their own to understand the pros and cons. With rates at current levels over 6.5 percent, this may be an appealing option.
Investment has flooded this neighborhood in recent years. New duplex houses were renovated in 2023-2024 on neighboring Morse Street. A half-block north on Lowell are new duplex developments slated to start construction in 2024. New townhomes and four-plexes were developed all in the past 5-10 years. Multi-family properties in this neighborhood do not become available often.
List of recent home renovations:
Upstairs kitchen was renovated in Q2 2022 – new cabinets, new dishwasher, new refrigerator.
All interior paint was re-done in Q2 2022
Exterior landscaping was complete in Q4 2022
Small accessory office to accommodate remote work was installed in the garage in Q1 2023
All carpet was replaced in Q1 2023
Exterior paint was re-done in Q3 2023
Location
State CO
County Denver
Listed by Robert Tait • Engel & Völkers Denver - Downing Street Group
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