9 Denver Metro Condos for $1.2MM - Gross $11k a month - 7% Cap

[Phillip Bicker]

I just came across a portfolio of 9 Denver Metro Condos (across the metro from Westminster to Lakewood). The numbers are pretty enticing for the Denver market!  One 2 bed/2 bath, five 2 bed/1 bath, and three 1 bed/1 bath.

9 Condos - $1.2MM ask - Averaging $133k per unit. 

Current tenants in place renting at $950-$1,370 per unit / month for a total of $10,920/month or $131k per year. 

The listed annual expenses are $46,616 leaving $84k NOI or just over 7% cap.

So Gross $131k, Expenses $47k, NOI $84k, Cap 7%. To my knowledge, they are not willing to separate at this time.

Let me know if you have any interest - it is hard to find condos with tenants at this rate right now.

Phill Bicker

303-250-5090 or email/text me if you want to see the flyer with individual addresses, beds/baths, sq ft, and rent rates.

Listing was provided by Madison & Company Properties, LTD