$990,000
$1,125,000
12.0%For more information regarding the value of a property, please contact us for a free consultation.
6 Beds
5 Baths
3,328 SqFt
SOLD DATE : 12/05/2019
Key Details
Sold Price $990,000
Property Type Single Family Home
Sub Type Income Property
Listing Status Sold
Purchase Type For Sale
Square Footage 3,328 sqft
Subdivision Platt Park
MLS Listing ID 5805463
Sold Date 12/05/19
Style Victorian
Bedrooms 6
HOA Y/N false
Abv Grd Liv Area 3,617
Originating Board REcolorado
Year Built 1891
Annual Tax Amount $2,873
Lot Size 9,147 Sqft
Acres 0.21
Property Description
1218-1220 South Sherman Street is a four-unit, value-add multifamily asset and a great opportunity in Platt Park. Renovating the units and adding additional space will achieve substantially higher rents than what is currently in place.
1218-1220 South Sherman Street is located on a large 9,000 square foot lot with U-SU-B1 zoning and has an extremely rare and valuable acceptable use compliance letter from the City of Denver which allows redevelopment as a four-unit development. This gives investors a lot of options in regard to strategy with the asset by renovating the existing structure, scraping and building now, or maintaining the existing asset and developing down the road.
The property is within a block of Sprouts Farmers Market and minutes from multiple light rail stations and the prestigious South Pearl Street district with some of Denver's best restaurants.
Location
State CO
County Denver
Area Metro Denver
Zoning U-SU-B1
Rooms
Basement Full, Partially Finished, Walk-Out Access
Interior
Interior Features Walk-In Closet(s)
Heating Forced Air
Appliance Refrigerator, Disposal
Laundry Common Area
Exterior
Garage Spaces 6.0
Utilities Available Natural Gas Available, Cable Available
Waterfront false
Roof Type Composition
Street Surface Paved
Porch Patio
Building
Story 2
Level or Stories Bi-Level
Structure Type Brick/Brick Veneer,Stone
New Construction false
Schools
Elementary Schools Lincoln
Middle Schools Grant
High Schools South
School District Denver 1
Others
Senior Community false
SqFt Source Assessor
Special Listing Condition Private Owner
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