FULLY RENOVATED, LOW-MAINTENANCE ASSET WITH DURABLE CASH FLOW

2397 S Locust St offers investors a rare opportunity to acquire a fully renovated 4-unit asset where the heavy lifting has already been completed. Units have been upgraded with modern finishes including

updated kitchens, hard surface flooring, and contemporary design elements that compete directly with newer product in the submarket. The renovations not only enhance tenant appeal but also materially

reduce near-term capital expenditure risk, allowing for a more passive ownership structure with predictable cash flow.

COMPELLING RENTAL POSITIONING WITH CONTINUED UPSIDE

The property is well positioned within the local rent spectrum, offering investors a balanced profile of in-place income and forward-looking upside. As seen in comparable Virginia Village assets, there

is meaningful separation between current and proforma rents, creating the ability to organically grow revenue through natural lease roll without relying on heavy repositioning. This provides a clear path to increased NOI while maintaining tenant stability.

BOUTIQUE ASSET IN A SUPPLY-CONSTRAINED SUBMARKET

Unlike larger multifamily assets that face ongoing supply pressure, 4-plex product in Virginia Village remains extremely limited. This creates a unique dynamic where well-located, renovated small-bay

properties trade at a premium due to their scarcity, ease of management, and strong appeal to private investors. 2397 S Locust sits squarely in this niche, benefiting from both limited competition and consistent renter demand.

STRATEGIC INFILL LOCATION WITH ACCESS TO DENVER’S PRIMARY EMPLOYMENT CORRIDORS

The property is ideally located between Downtown Denver and the Denver Tech Center, giving residents efficient access to the two largest employment hubs in the metro. This central positioning continues to be one of the primary demand drivers for the Virginia Village area, as tenants seek shorter commute times without sacrificing neighborhood character. Similar assets in the area benefit from this connectivity, supporting long-term occupancy and rent growth.

STRONG DEMOGRAPHICS SUPPORTING LONG-TERM RENT GROWTH

The surrounding area is characterized by a highly educated renter base, rising incomes, and steady population growth. Average household income within close proximity exceeds $100K, creating a renter pool capable of supporting continued rent increases. These fundamentals, combined with limited new supply, position the asset for sustained appreciation and income growth over time.

RENT VS. OWN DYNAMIC CREATES BUILT-IN DEMAND

With homeownership costs in the area far exceeding rental costs, the affordability gap continues to widen. Nearby data shows that renting remains significantly more attainable than owning, reinforcing long-term renter demand. This dynamic is particularly important for smaller assets like 2397 S Locust, where consistent occupancy and tenant retention directly drive investment performance.

OPTIONAL VALUE-ADD THROUGH OPERATIONS (NOT CAPEX HEAVY)

While the property is largely turnkey, there remains an opportunity to enhance returns through operational efficiencies such as utility bill-back optimization, lease restructuring, and strategic expense management. This provides incremental upside without requiring significant additional capital investment.