Multifamily Development at Trophy Cap Rate

The Impossibly Too Good To Be True.. and True Shovel Ready.
Location: Denver Metro
Investors will enjoy the advantage of minimal maintenance and construction costs required for this multifamily asset under 100 units for its strong proforma with portfolio diversity. Subject property is nestled blocks between two national feasibility studies for long term vision of an Urban Renewal Plan initiated in 2013 at final stages of completion. Lot includes seller's reinvestment into soft costs of ALL approved improvements including signed permits for utilities, water, and master plans guaranteed by the City and County for 3 years.

Land value climbing at a conservative $90,000 - $120,000 a month as is. With the lot vacant, and master plans approved, construction on horizontal and vertical could be completed within 12 months for a seasoned developer dropping expenses under 30% to further improve cap rate and rapid stabilization. With rapid equity value of land increasing for a hold, and a net income equivalent to 175 units for Denver Metro median this neighborhood performing above the feasibility study estimates bringing predictable income projections therefore rapid stabilization in a few short years or months. Attractively, when the seller reclassified assets to multifamily for highest and best use with the unimaginable approval for doubling the door on this scale project added a conservative 40% cash flow profit of gross base rents and increasing the land value and have a cap rate potential 2x higher than Denver Metro's median for the new owner for a superior capital asset.

Seller Seller will only consider reasonable offers, and will move forward on construction and hold if there are no attractive offers to take. Seller is willing to guarantee their construction budgets along with the architect and engineer who spearheaded the expedition of approvals on reclassifying development to all new code requirements.

Lot size 2.55 acres (DealStream only allows whole numbers)
Under market base rents still has the Cap Rate at 7.25%

*Supplements Upon Request and Signed NDA.
*Listing Consultant is traveling but available on WhatsApp for text or calls. Emails will be checked regularly.