Overview
Marcus & Millichap is pleased to present The Jewell Apartments, a 93-unit multifamily community located at 4470 E Jewell Avenue in Denver, Colorado. Consisting of two buildings situated on a 1.17-acre parcel, The Jewell offers residents a meticulously renovated, high-quality living experience in one of Denver’s most central and accessible neighborhoods.
Originally built in 1968, The Jewell features 78 one-bedroom units averaging 532 square feet and 15 two-bedroom units averaging 769 square feet. The property has been completely and thoughtfully renovated by current ownership, transforming it into a modern, best-in-class apartment community that blends timeless architecture with contemporary finishes and amenities.
Interior renovations include modern cabinetry, quartz countertops, stainless steel appliances, hard-surface vinyl flooring, new three-panel doors, modern fixtures, new bathtubs with tile shower surrounds, updated vanities, and accent walls, creating a stylish and inviting atmosphere throughout.
The property’s reimagined community spaces feature redesigned interior courtyards with new grilling stations, lounge seating, and picnic areas, providing residents with a comfortable and social outdoor setting. Both buildings also include updated laundry facilities, offering convenience and functionality.
Investment Highlights
Turnkey Value-Add Opportunity
The Jewell Apartments present a rare chance to acquire a fully renovated, 93-unit community in central Denver that is currently only ~45% occupied. With all major renovations completed, new ownership can focus on stabilizing operations and leasing up to realize over $650,000 in additional effective income, a clear path to strong value creation within a modernized asset.
Comprehensive Renovation Program
The property features modernized interiors with quartz countertops, stainless steel appliances, new flooring, fixtures, and finishes, along with reimagined courtyards, grilling stations, and lounge areas. These upgrades position The Jewell as a best-in-class asset in its vintage with minimal near-term capital needs.
Exceptional Central Denver Location
Ideally located just off I-25 and less than a mile from the Colorado Station Light Rail, The Jewell offers easy connectivity to Downtown Denver, Cherry Creek, and the Denver Tech Center, three of the city’s largest employment and lifestyle hubs.
Strong Market Fundamentals
Situated in the Glendale/University submarket, one of Denver’s most affordable and in-demand rental areas, The Jewell benefits from limited new supply and robust absorption. The submarket’s relative affordability supports continued rent growth and long-term stability.
High Barriers to Homeownership
With nearby home prices averaging over $800,000, renting at The Jewell is approximately 76% less expensive than owning, ensuring enduring renter demand in an area with exceptional demographics and average household income exceeding $120,000.
Advantage in a Tightening Supply Market
Denver’s construction pipeline has contracted by 33%, enhancing the competitive position of existing, stabilized communities like The Jewell—particularly those with updated finishes and proximity to transit and employment centers.
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