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Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 5863943
HOA Y/N No
Originating Board recolorado
Year Built 1956
Annual Tax Amount $40,568
Tax Year 2024
Property Sub-Type Multi Family
Property Description
The William Penn is a value-add opportunity in Denver's Uptown neighborhood. The property is just a few blocks east of the Central Business District, and adjacent to 17th Avenue: Denver's famed Restaurant Row. The building was completely vacated earlier this year and is positioned for immediate renovation. The attractive 4-story building consists of 35 one-bedroom apartments. These spacious apartments offer functional floor plans, abundant natural light, and many units enjoy stunning views of the downtown skyline. The existing $5,098,085 Freddie Mac loan is fixed at 3.43% through April 2032. The lender has indicated that the loan is assumable. The heating system consists of a natural gas boiler and hot water baseboard registers with thermostats in each apartment. The current electric service is 30 amps to each unit. The building also features an elevator, laundry room, storage lockers and onsite manager's office. The William Penn has a long-standing reputation as an exceptional building and deserves to be restored to its former glory.
Location
State CO
County Denver
Zoning C-MX-8
Interior
Fireplace N
Exterior
Garage No
Building
Sewer Public Sewer
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by NorthPeak Commercial Advisors, LLC
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