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… Read More 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. Read Less
Building Class: Class C, Building Name: Ponderosa Apartments, Effective Year Built: 2021, Occupant Type: Tenant, Stories: 2, Total Area: 18482, Unit Count: 2, Unit Types: "Array", "Array", Built in 1961, 20 total units
Current Use: "Multi-Family", Property Sub Type: Multi Family, Zoning: E-MU-2.5
Sewer
Sewer: "Public Sewer"
Taxes
Annual Amount: 22548, Legal Description: ALL L 1 EXC W 150 FT & EXC S 72.5 FT OF L 1 BLK 9CARLSON-MCCLELLAND-FREDERICS GREEN ACRES FLG NO 1, Tax Year: 2024
Utilities
Power Production Count: 0, Water Included, Water Source: "Public"
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