UPDATED:
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 3,613 sqft
Subdivision Sloan'S Lake
MLS Listing ID IRE4673068
Bedrooms 5
HOA Y/N No
Year Built 1954
Annual Tax Amount $5,745
Tax Year 2025
Lot Size 9,583 Sqft
Acres 0.22
Source ires
Property Description
The existing units benefit from strong rental demand, quick leasing, and phenomenal tenant retention, making this an attractive opportunity for both immediate income and future development potential.
Adding to the appeal, the City of Denver plans to invest $50 million in improvements to Sloan's Lake, including shoreline restoration and water-quality improvements. These significant enhancements are expected to further improve the surrounding area and enhance the long-term appeal of the property.
Immediate income upside: Two family members currently occupy two of the units at below-market rents. Bringing both units to market rents supports an estimated 4.5% cap rate.
The family member occupying the two-bedroom unit is vacating by the end of October, creating an opportunity to increase annual rental income by more than $7,500.
The family member residing at 1591 Utica is currently on a 30-day notice at a discounted rental rate. Bringing this unit to market rent could increase annual income by more than $9,000.
With strong existing rental performance, significant near-term income upside, desirable zoning, and a prime location near Sloan's Lake, this property presents an excellent combination of current cash flow and future development potential.
Showing Instructions: Listing agent Will McKinlay must be present for all showings. Please provide tenants with at least 24 hours' notice prior to any showing.
Location
State CO
County Denver
Community Sloan'S Lake
Area Metro Denver
Zoning U-RH-3A
Rooms
Basement Crawl Space
Interior
Interior Features Pantry
Heating Forced Air
Cooling Ceiling Fan(s)
Fireplaces Type None
Appliance Refrigerator, Washer, Dryer, Microwave, Gas Bar-B-Q, Disposal, Fire Alarm
Exterior
Exterior Feature Sprinkler System
Parking Features Carport
Garage Spaces 2.0
Fence Partial
Utilities Available Electricity Available, Separate Meter Electricity, Separate Meter Gas
View Y/N Yes
View Water
Roof Type Composition
Porch Patio
Garage Yes
Building
Lot Description Corner Lot, Level, House Faces North, Gutters
Sewer Public Sewer
Water City
Level or Stories Two
Structure Type Frame,Brick
New Construction false
Schools
Elementary Schools Colfax
Middle Schools Strive Lake
High Schools Denver District 1
School District Denver District 1
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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L. Clinton Porter
Broker Associate License ID: FA100029350
Broker Associate License ID: FA100029350