NoCo Flats - 1525 Yates St, Denver, CO 80204

1525 Yates Street in Denver, CO (NoCo Flats) is a fully-renovated 24-unit multifamily property located on the South side of Sloan’s Lake neighborhood, just 100 feet to the north of the highly trafficked West Colfax corridor. Both neighborhoods have experienced significant rehabilitation during the current economic cycle with thousands of new apartments and condo units and increased bar, restaurant and retail amenities coming to the area. The property is also just a short drive or bike ride away from Denver’s Downtown Central Business District, Sloan’s Lake Recreation Area, Jefferson Park, Mile High Stadium, the Broncos Stadium at Mile High Station LRT stop, Edgewater entertainment district and more. The Seller is offering a Buyer the opportunity to purchase the fee simple interest in this tremendously located, maintained and stabilized multifamily asset in one Denver’s most highly coveted rental districts. The Buyer will benefit from low maintenance nature of this asset due to the Seller’s meticulous care and will also benefit from both short and long-term rental rate growth, as current rents are pushed closer to market rents and the commercial districts in the surrounding area continue to be rehabilitated. The number of new residential units being delivered in the area should not be of concern to a potential buyer due to the non-competing nature of this product versus new, ground-up construction. A buyer should be able to comfortably push rents for the foreseeable future and still remain well below the $2.50-3.00/SF asking rents of new multifamily projects coming to the area.