1560 Sherman St
Distinctive 33-unit multifamily asset in Central Denver, steps from the Colorado State Capitol, offered at $5,800,000 at a 4.76% cap ($276,026 NOI). The elevator-served community features recently renovated units and common areas, including a fitness center, resident lounge with full kitchen, dog wash, and private storage. A significant value-add component is the approximately 7,400 SF of largely underutilized basement space—historically the Le Profile restaurant—offering potential for restaurant, retail, creative office, or other commercial uses to generate additional income.
Built in 1952 and situated on an 8,513 SF lot in the C-MX-16 zone, the 31,670 SF building benefits from a newer roof and prime downtown positioning. The property is positioned as a turnkey multifamily investment with near-term income stability and meaningful upside from the basement redevelopment opportunity, appealing to investors seeking both existing cash flow and value-add potential in one of Denver's most walkable, amenity-rich neighborhoods.
- 33-unit elevator-served building with recently renovated units and common areas
- 7,400 SF underutilized basement space—former Le Profile restaurant—ready for commercial redevelopment
- Newer roof; C-MX-16 zoning supports mixed-use expansion
- Steps from Colorado State Capitol; prime Central Denver location
- Turnkey asset with fitness center, resident lounge, dog wash, and private storage
More property details
Location
The Profile presents a distinctive multifamily investment opportunity in Central Denver, ideally located just steps from the Colorado State Capitol. The 33-unit, elevator-served apartment community has undergone recent renovations to numerous units and common areas, offering a turnkey asset with an elevated level of finishes that differentiates it within the submarket. Resident amenities include a fitness center, laundry facilities, private storage, dog wash, and a spacious resident lounge with a full kitchen. A key value-add component is the approximately 7,400 SF of largely underutilized basement space, which historically housed the well-known Le Profile restaurant. This expansive area provides an opportunity to create additional income through a variety of potential uses, including a restaurant, neighborhood retail, creative office, or other commercial concepts. Additional property features include a newer roof, renovated units, an elevator, a prime downtown location, and favorable C-MX-16 zoning, making The Profile a compelling opportunity for an investor seeking both existing multifamily income and future value-add potential.