Overview
Courtyard on Vine is a 17-unit boutique apartment community located in Denver’s highly sought-after Cheesman Park neighborhood. Built in 1950, the property consists primarily of one-bedroom apartments, offering an efficient unit mix within a supply-constrained submarket known for strong renter demand and limited new multifamily development.
Positioned just one block from Cheesman Park and near the Denver Botanic Gardens, the property provides residents with exceptional walkability and access to outdoor recreation, dining, retail, and entertainment. Its central location also offers convenient connectivity to Downtown Denver, Capitol Hill, Cherry Creek, and major employment centers.
With its irreplaceable location, classic mid-century character, and strong long-term market fundamentals, Courtyard on Vine represents a rare opportunity to acquire a boutique multifamily asset in one of Denver’s most desirable and difficult-to-replicate neighborhoods.
Investment Highlights
Irreplaceable Cheesman Park Location Located just one block from Cheesman Park, Courtyard on Vine offers residents immediate access to one of Denver’s premier urban green spaces, the Denver Botanic Gardens, and the dining, retail and entertainment amenities of Capitol Hill and Cherry Creek. Multifamily acquisition opportunities in this supply-constrained neighborhood remain exceptionally limited.
12.2% Mark-to-Market Rent Upside In-place rents average approximately $1,231 per unit compared with pro forma rents of $1,381, representing approximately 12.2% upside as leases roll to market. Underwritten NOI increases from approximately $136,000 currently to $158,000 in Year 1.
Attractive 3.43% Existing Financing The property benefits from approximately $2.30 million of existing debt at a 3.43% interest rate, with maturity in May 2032—providing compelling financing economics relative to today’s borrowing environment.
Exceptional Rent-vs.-Own Value Proposition Homes within one mile of the property have averaged approximately $756,000, while Courtyard on Vine’s pro forma rent averages just $1,287 per month. The OM estimates renting at the property is approximately 76% less expensive than the monthly cost of homeownership, supporting durable renter demand.
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