Overview
Marcus & Millichap is pleased to present La Alma, a 20-unit multifamily property located in Denver's vibrant Lincoln Park neighborhood, offering a prime investment opportunity. The property benefits from strong, affluent area demographics with an average household income of $106,361 and a median age of 33.2 years, positioning it for continued rent growth. La Alma is strategically located less than two miles from Downtown Denver, providing residents with easy access to major employment centers and a diverse job market, including Fortune 500 companies and key industries like finance, government, and technology. Additionally, the property’s proximity to I-25 offers excellent connectivity to the Denver Tech Center, further enhancing its appeal. With homeownership becoming increasingly out of reach due to rising home prices—single-family home sales within one mile averaging $544,858—La Alma offers renters a more affordable alternative, with rents 35% lower than buying a home in the area. These factors, combined with projected household growth of 9.2% from 2023 to 2028, make La Alma an attractive asset in a high-demand rental market.
Investment Highlights
Connectivity to Downtown Denver: La Alma Apartments is located less than two miles from Downtown Denver, which is about 10 minutes by car, offering residents excellent proximity to one of the highest concentrations of employment opportunities in the state. Denver boasts a well-diversified economy, with key industries being professional and business services, government sector jobs, and financial activities, followed very closely by leisure and hospitality. Fortune 500 companies including, but not limited to, BP, Wells Fargo, TransAmerica, CenturyLink, and DaVita all have a major presence in Denver. Additionally, in 2023 ,17 companies announced plans for a headquarters relocation, new office, or expansion in Downtown Denver. Beyond Fortune 500 companies, there are a wide array of employment opportunities available in Colorado’s capital city, in both the public and private sector.
Accessibility to Additional Employment Centers: Conveniently located in the Lincoln Park neighborhood of Denver, La Alma apartments offers residents excellent proximity to I-25 which offers accessibility to additional employment hubs. La Alma apartments is located 11.5 miles from the Denver Tech Center, which is about 22 minutes by car, offering residents excellent proximity to Denver’s second largest employment hub. The Denver Tech Center is home to more than 48 million square feet of office space, which is the highest concentration of office space along Colorado’s Front Range. The Denver Tech Center’s concentration of office space and talent has made it a sought-after location for a variety of businesses, including six Fortune 500 companies: Arrow Electronics, Qurate Retail Group, Dish Network, Liberty Media, Newmont, and DCP Midstream. Beyond several Fortune 500 companies, a wide array of large, private employers also has a strong presence in DTC. La Alma apartments offers residents excellent access to two of the Denver Metro Area’s top employment hubs.
Significant Barriers to Home Ownership Driving Rental Demand: Driven by its significant population and job growth, paired with a high quality of life that attracts transplants from across the country, Denver has been named one of the country’s top performing housing markets. The average sale price of homes in Denver went up by over 34 percent between 2020 and 2023 and has gone up by 55 percent since 2017. As Denver continues to attract residents seeking high-quality employment opportunities and a live-work-play lifestyle, home ownership will become increasingly unattainable. La Alma Apartments represents a classic, yet elevated apartment living experience that will come at a 35 percent discount to owning a home in the area.
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