Newmark Knight Frank is pleased to present qualified investors the opportunity to acquire a turnkey 5-unit community at 546 N Washington Street in Denver's trendy Governors' Park neighborhood. 546 N Washington is 100% occupied and the seller has improved the property considerably, offering its next owner the ability to realize immediate upside in rents without making any major physical improvements to the property.
546 N Washington is located directly south of the 6th Avenue retail corridor as well as Governors' Park and the surrounding retail (including a Trader Joe's completed in 2014). The current owner has improved the landscape and yard, added in-unit air conditioning in the upper units, expanded the garden level unit's rentable space, and is currently adding a common area washer and dryer unit for the tenants' shared use. The property has been fully positioned for rent increases in every unit, including two month-to-month tenants for the next owner to begin working with immediately. In addition to pet rents, pet deposits and utility billback income not currently being captured at the property, it is our professional opinion that the next owner could realize an average $100-120 per unit per month in rent premiums.

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