11948 E. 17th Avenue presents an exceptional value-add opportunity with significant upside in one of Metro Denver's strongest rental markets. This approved short sale features 18 apartment units directly across from the CU Anschutz Medical Campus and is priced at just $2.1 million.
The property includes five (5) three-bedroom, twelve (12) two-bedroom, and one (1) one-bedroom apartments, offering multiple strategies for increasing NOI through lease-up, renovations, and operational improvements. Investors may also explore mid-term rental opportunities to serve the area's growing healthcare workforce.
With a projected after-repair value (ARV) of $2.8M–$2.9M, this is an outstanding opportunity for investors seeking immediate upside and long-term appreciation. Financial projections assume a $200,000 capital improvement investment during Year 1, resulting in a projected Year 2 pro forma cap rate of 8.84%.
Approved Short Sale – Seller Encourages All Offers. Contact the listing team for the Offering Memorandum, financials, and a private tour.
Property details
Property
Type
Multi Family
MLS type
Commercial Sale
Status
Active
Year built
1971
Lot
0.31 AC / 13,373 SF
MLS #
8685558
Exterior & lot
Lot
Corner Lot
Utilities
Water
Public
Sewer
Public Sewer
Financial
Annual tax
$20,381
Parcel
R0097574
Location
County
Adams
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