Samuel Apartments | 7121-7141 Samuel Dr
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Samuel Apartments 7121-7141 Samuel Dr
34 Unit Block of Flats £5,878,050 (£172,884/Unit) 6.28% Net Initial Yield Denver, CO 80221
Investment Highlights
- Turnkey deal - attractive returns in the mid 6 CA P range
- Built in 1970-72 with extensive recent improvements including roof, electrical, plumbing, windows, exterior stairs, exterior paint, landscaping
- Property falls into Adams County and is not subject to Denver landlord laws
- Highly renovated interiors – one of the more attractive housing options in the area
- Located near Highway 36 with great accessibility to Downtown Denver and Boulder
- Separately metered electric – tenants pay direct
Executive Summary
Midtown Gardens is a turnkey investment opportunity totaling 34 units and weighted towards renovated 1 bedrooms. Originally built in 1970-1972, the property has undergone extensive renovation totaling well over $1,000,000 in costs. Capital improvements in the past 2 years include roof, electrical, plumbing, windows, exterior stairs, exterior paint, landscaping, concrete, and more. In addition, all 34 interiors have been renovated with high end finishes, making this one of the most attractive workforce housing options in the area. Tenants enjoy easy access to Downtown Denver and Boulder via nearby Highway 36. However, the subject property actually falls into Adams county and is therefore not subject to many of Denver’s landlord laws.
For the right investor, this is an opportunity to buy a clean deal with attractive returns in the mid 6 CAP range.
For the right investor, this is an opportunity to buy a clean deal with attractive returns in the mid 6 CAP range.
Property Facts
| Price | £5,878,050 | Apartment Style | Low Rise |
| Price Per Unit | £172,884 | Building Class | C |
| Sale Type | Investment | Lot Size | 1.13 AC |
| Net Initial Yield | 6.28% | Building Size | 18,252 SF |
| No. Units | 34 | Number of Floors | 3 |
| Property Type | Residential | Year Built/Renovated | 1970/2023 |
| Property Subtype | Apartment | Parking Ratio | 3.29/1,000 SF |
| Price | £5,878,050 |
| Price Per Unit | £172,884 |
| Sale Type | Investment |
| Net Initial Yield | 6.28% |
| No. Units | 34 |
| Property Type | Residential |
| Property Subtype | Apartment |
| Apartment Style | Low Rise |
| Building Class | C |
| Lot Size | 1.13 AC |
| Building Size | 18,252 SF |
| Number of Floors | 3 |
| Year Built/Renovated | 1970/2023 |
| Parking Ratio | 3.29/1,000 SF |
Unit Amenities
- Dishwasher
- Disposal
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
Site Amenities
- Laundry Facilities
Unit Mix Information
| Description | No. Units | Avg. Rent.Mo | SF |
|---|---|---|---|
| 1+1 | 32 | - | 500 |
| 2+1 | 2 | - | 650 |
Walk Score ®
Very Walkable (70)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £296,744 | |
| Land Assessment | £15,745 | Total Assessment | £312,488 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£15,745
Improvements Assessment
£296,744
Total Assessment
£312,488
zoning
| Zoning Code | R-4 |
| R-4 |
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Hunter Schaefer -
Jack Sherman -
NorthPeak Commercial Advisors
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Samuel Apartments | 7121-7141 Samuel Dr
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