Case Study: 1660 Franklin Street

Denver Investment Real Estate Multifamily Building

Investment Type:  Value Add Apartment Building

Six unit building in Central Denver's Uptown Neighborhood was purchased in 2003.  Since the time of the acquisition the surrounding neighborhood has transformed.  What used to be a low end dive bar in the adjacent building turned into a high end restaurant, the retail center immediatly north of the property was renovated and leased up, new high end lofts were built on the same block, and the office/retail building directly accross Franklin Street was demolished and a new mixed use project is underway.  The improving neighborhood allowed us to steadily outpace the market in terms of rent increases.  When the property was sold in 2012, rents had almost doubled which corresponded to a 40% and ROI to the ownership group.