2940 W Arkansas AvenueDenver, CO 80219
Due to the health concerns created by Coronavirus we are offering personal 1-1 online video walkthough tours where possible.
Ponderosa Apartments represents a quality multifamily investment opportunity situated within a high-demand, transit-oriented Denver submarket. The property distinguishes itself by offering an exceptional 7% CAP rate based on actual trailing 12 month numbers, providing investors with immediate and robust cash flow that outperforms typical market yields for stabilized assets. This strong day-one return is coupled with a significant reduction in risk, as ownership has recently addressed the property’s major infrastructure needs. These critical capital improvements include the installation of a new boiler system, a full electrical upgrade with the replacement of all electrical panels, and the professional resurfacing of the asphalt parking lot. The asset features a strategic unit mix consisting of large two-bedroom and three-bedroom floor plans. The spacious layouts allow the property to attract and retain a stable, long-term tenant base. Further enhancing the investment thesis is a proven value-add track record; with 50% of the units already fully renovated, there is a clear proof of concept regarding the rent premiums achievable in the local market. A new owner can focus on finishing the remaining classic units to capture additional upside and drive net operating income. 7% CAP RATE ON ACTUAL NUMBERS, 9.5% CASH ON CASH RETURN. (19) 2BR/1BA & (1) 3BR/2BA UNITS. NEW BOILER. UPDATED WINDOWS. NEW PARKING LOT ASPHALT RESURFACING. NEWER ROOF. ALL ELECTRIC PANELS REPLACED. 50% OF THE UNITS HAVE BEEN FULLY RENOVATED WITH NEW FLOORING CABINETS, COUNTERTOPS, APPLIANCES, AND FULL BATHROOM REMODELS.
| 21 hours ago | Listing updated with changes from the MLS® | |
| 21 hours ago | Listing first seen on site |
The content relating to real estate for sale in this Web site comes in part from the Internet Data eXchange ("IDX") program of METROLIST, INC., DBA RECOLORADO real estate listings held by brokers other than Pinnacle Real Estate Advisors are marked with the IDX Logo. This information is being provided for the consumers' personal, non-commercial use and may not be used for any other purpose. All information subject to change and should be independently verified.