Courtyard on Vine — Sale in Denver, CO

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Multifamily Property
  • Location: Denver, CO 80206

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Description

Marcus & Millichap is pleased to present the opportunity to acquire Courtyard on Vine, a 17-unit apartment community at 1399 Vine Street in the heart of Denver’s Cheesman Park neighborhood. Built in 1950 on a 0.29-acre site, the property features classic mid-century architecture and an efficient, highly rentable unit mix of 16 one-bedroom apartments averaging 497 square feet and one spacious 1,000-square-foot two-bedroom. Interiors offer hardwood floors, abundant natural light, and functional kitchens, while mature landscaping and an intimate central courtyard create a boutique residential setting that larger conventional communities cannot replicate. The property’s defining attribute is its location two blocks from Cheesman Park, one of Denver’s most iconic urban green spaces. The park’s 80 acres of open lawns, walking trails, mature trees, and historic Neoclassical pavilion put a premier recreational amenity directly outside residents’ doors. The Denver Botanic Gardens, neighborhood cafés, acclaimed restaurants, grocery, and the retail, dining, and entertainment of Capitol Hill and Cherry Creek are all within walking distance, and Downtown Denver and the Cherry Creek employment corridor are minutes away. The result is a walkable lifestyle that consistently attracts renters seeking convenience, recreation, and neighborhood character. Opportunities to acquire apartments in Cheesman Park remain exceptionally scarce. The neighborhood is fully built out, homeowner and renter demand is strong, and barriers to new multifamily construction are significant. The offering pairs that scarcity with a straightforward business plan: in-place rents average $1,231 against underwritten market rents of $1,381, a 12.2% mark-to-market opportunity captured as leases naturally roll, and approximately $2.28 million of assumable financing at a 3.43% fixed rate through May 2032 provides nearly six years of below-market debt service. Courtyard on Vine is a durable, well-located asset with e

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