Active Under Contract Commercial MLS# 8299990

1600 Steele Street

Denver, CO 80206

$750,000

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About 1600 Steele Street

Exceptional opportunity in highly desirable South City Park! A 4,690sf corner lot zoned U-TU-O with UO-3 overlay offers incredible potential for live on, investors or developers looking to build equity through renovation. Whether you’re envisioning a thoughtful remodel, expansion, or redevelopment, the flexible zoning offers many possibilities. Priced well below replacement cost! This Denver Square has been thoughtfully converted into 7 apartments, 2- 2 beds, 5- 1 beds. Numerous charming and elegant Victorian details have been preserved, adding character to the living spaces. Heat is provided by a central boiler. Gas & electricity are separately metered and laundry is on site. The most compelling element of this asset is the significant upside in the rents. With strong management and targeted improvements, the property is ideal for an owner-occupant or investor, producing cash flow, tax write-offs and growth. 1600 Steele is on a tree-lined street surrounded by established homes, one block to City Park, the ultimate back yard! Easy access to Cherry Creek, Colfax Redevelopment, downtown Denver, and major thoroughfares. A rare chance to secure an asset with value-add potential in a great neighborhood.

Property details

Property

Type
Multi Family
MLS type
Commercial Sale
Status
Active Under Contract
Year built
1905
Lot
0.11 AC / 4,687 SF
MLS #
8299990

Exterior & lot

Roof
Shingle, Rolled/Hot Mop
Lot
Corner Lot
Parking
Driveway-Gravel

Utilities

Utilities
Cable Available, Electricity Available, Electricity Connected, Internet Access (Wired), Natural Gas Available, Natural Gas Connected, Sewer Connected
Water
Public
Sewer
Public Sewer

Financial

Annual tax
$9,235
Parcel
2364-08-013
Special conditions
None Known

Location

County
Denver

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Listed by Jeffrey Joyce, American City Real Estate

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