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West Colfax/Sloan's Lake Development Deal-Build up to 4 units!
U-RH-2.5 Zoning
Property Highlights:
Current Structure- 2/1 with detached garage
Lot Size- 6,250 Sq. Ft.
Neighborhood- West Colfax/Sloan's Lake
Closing- August 31st
2 month post-occupancy agreement in place with tenant's covering utilities, taxes and insurance.
Incredible development opportunity in HOT West Colfax/Sloan's Lake. Property is located 1 block north of Perry Street Light Rail Station where new developments are happening all over the place, 2 blocks from St. Anthony's Redevelopment area. Zoning allows for Row Homes-2.5 stories high. 2 properties on same block are both just beginning to construct 4 row homes each on the same sized lots. These individual units are selling for upwards of $500k/door. Please do your own due diligence as property is being sold AS-IS. Minutes from downtown Denver.
PROPERTY IS CURRENTLY OCCUPIED DO NOT DISTURB TENANTS. Call for showing. Agents add commission to purchase price.
Comps:
Land Value Comp- 1316 Stuart St. Sold July 2017 at $425k as a scrape. Same lot size and zoning.
Row Home ARV- 1338 Quitman St. One of Four Units For Sale at $479,000 ($350/Sq Ft.)
Row Home ARV- 3960 W 13th Ave. Sold July 2017 for $449,000 ($360/ Sq Ft.)*
Row Home ARV- 3970 W 13th Ave. Sold July 2017 for $432,290 ($348/Sq Ft)*
Row Home ARV- 3980 W 13th Ave. Sold July 2017 for $449,000 ($360/ Sq Ft.)*
ARV- ~$1,800,000 (Projected ARV if building 4 units)
*All located on the corner of 13th and Perry St. facing 13th.