The Riverpoint Apartments
Stabilized 24-unit multifamily asset in South Denver offered at $3,720,000 at a 6.69% cap ($248,969 NOI). The Class C apartment building, built in 1982 and recently updated with major capital improvements, benefits from a prime location with direct access to South Broadway, Federal Boulevard, and I-25, anchoring a steadily improving submarket.
The three-story, 16,067 SF building sits on 0.425 acres zoned G-MU-5 with 30 parking spaces. Recent major systems and capital expenditures—including new windows, roof, upgraded electrical panels, refinished parking lot, new perimeter fencing, and rebuilt exterior stairs—position the asset competitively within the vintage multifamily inventory. The property has historically maintained high occupancy, supported by its updated condition and location advantage along the South Broadway corridor and Mississippi Avenue.
The South Denver trade area benefits from ongoing infrastructure investment and proximity to major arterials (Santa Fe Drive, Alameda Avenue) and I-25 access, offering strong connectivity and visibility.
- 24 units, 16,067 SF on 0.425 acres
- Major capital improvements completed: new windows, roof, electrical, parking lot, fencing, exterior stairs
- 6.69% cap rate, $248,969 NOI
- Prime South Denver location with I-25 and South Broadway access
- Historically high occupancy; well-positioned in improving submarket
More property details
Location
• Prime South Denver location with direct access to South Broadway, Federal Boulevard, Santa Fe Drive, Alameda Avenue, and I-25
• Major systems and capital expenditures already completed, including new windows, a newer roof, upgraded electrical panels, a refinished parking lot, new perimeter fencing, and rebuilt exterior stairs
• Historically high occupancy driven by the property’s vintage advantage and updated condition relative to competing inventory
• Well-positioned asset in a steadily improving submarket benefiting from infrastructure investment along Mississippi, Federal, and the South Broadway corridor