Description

The Green Meadow Apartments is a 23-unit (+1) multifamily complex located in Denver, Colorado. Primed for Value-Add Redevelopment, the property is currently rented 45% below comparable market rents. The property was built in 1969, with the same owner for the past 20+ years. Overall the property is in great condition, it is simply outdated.

The business plan includes unit-by-unit renovation plan that will match the quality of neighboring properties, increasing value significantly, creating a better place for tenants to live. Each unit will have Washer/Dryer added. Property has space for Addition of 1 unit, that alone will increase NOI by 6%, creating approximately $400,000 of value.

A mix of studio, 1- & 2-bedroom apartments with amenities a safe play-area for kids, newly added dog park and very
spacious units. The property recently had new water heater, boilers, and piping installed.