Address
4500 W 16th Avenue, Denver, CO
Price
$ 1,249,000
Property Attributes
- MLS#4673068
- TypeMulti-Family
- Listing Status Active
- CountyDENVER
- CityDenver
- NeighborhoodSloans Lake
- Zip80204
- StyleTraditional
- Year Built1954
- Taxes$ 5745
- Price$ 1,249,000
- Bedrooms5
- Full Bathrooms4
- Half Bathrooms0
- Sqr Footage3613
- Lot Size0.22 Acres
Data Source:
REColorado (MTOMLS)
Property Description
Awesome covered-land play opportunity! This exceptional corner lot offers a fantastic development opportunity on a 9,370-square-foot site with U-RH-3A zoning, ideally located just one block from the coveted Sloan's Lake Park. The existing units benefit from strong rental demand, quick leasing, and phenomenal tenant retention, making this an attractive opportunity for both immediate income and future development potential. Adding to the appeal, the City of Denver plans to invest $50 million in improvements to Sloan’s Lake, including shoreline restoration and water-quality improvements. These significant enhancements are expected to further improve the surrounding area and enhance the long-term appeal of the property. Immediate income upside: Two family members currently occupy two of the units at below-market rents. Bringing both units to market rents supports an estimated 4.5% cap rate. The family member occupying the two-bedroom unit is vacating by the end of October, creating an opportunity to increase annual rental income by more than $7,500. The family member residing at 1591 Utica is currently below market, with a lease ending July '27. With strong existing rental performance, significant near-term income upside, desirable zoning, and a prime location near Sloan’s Lake, this property presents an excellent combination of current cash flow and future development potential. Showing Instructions: Listing agent Will McKinlay must be present for all showings. Please provide tenants with at least 24 hours’ notice prior to any showing.
| Elementary School | Middle School | High School |
|---|---|---|
| Colfax Elementary School | Strive Lake Middle School | North High School |
| Price History | |
|---|---|
| 9/10/2026 | Listed $1,249,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Heating | Forced Air |
| Cooling | None |
| Utilities | Electricity Connected,Internet Access (Wired),Natural Gas Connected,Phone Connected |
| Possession | Closing/DOD |
| Roof | Composition |
| Appliances | Cooktop,Disposal,Dryer,Microwave,Oven,Refrigerator,Washer |
| Zoning | U-RH-3A |
| Patio/Porch Features | Covered,Patio |
| Architectural Style | Traditional |
| Security Features | Carbon Monoxide Detector(s),Smoke Detector(s) |
| Construction Materials | Brick,Frame |
| Exclusions | Tenant personal property |
| Year Built | 1954 |
| Electric | 220 Volts |
| Tenant Pays | Cable TV,Electricity,Gas,Internet,Telephone |
| View | Lake |
| Levels | Two |
| Property Subtype | Quadruplex |
| Tax Year | 2025 |
| Ownership | Corporation/Trust |
| Gross Income | 56150 |
| OwnerPays | Exterior Maintenance,Grounds Care,Insurance,Taxes,Trash Collection,Water |
| County | Denver |
| Operating Expense | 9089.28 |
| Property Type | Residential Income |
| HOA | No |
| Attached Garage | No |
| Subdivision Name | Sloan's Lake |
| Facing Direction | North |
| Status | Active |
| High School | North |
| City | Denver |
| Senior Community Y/N | No |
| High School District | Denver 1 |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 9370 |
| Carport Spaces | 2 |
| Listing Terms | Cash,Conventional,Jumbo |
| Elementary School | Colfax |
| Tax Annual Amount | 5745 |
| Home Warranty Y/N | No |
| Middle/Junior High School | Strive Lake |
| Structure Type | Quadruplex |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Middle/Junior School District | Denver 1 |
| Elementary School District | Denver 1 |
| Cap Rate | 3.7 |
Interior Features
| Interior Amenities | Butcher Counters,Ceiling Fan(s),Pantry,Smoke Free |
|---|---|
| Basement | Crawl Space |
| Flooring | Tile,Wood |
| Common Walls | 2+ Common Walls |
| Basement (Y/N) | No |
| Above Grade Finished Area | 3613 |
| Laundry Features | In Unit,Multiple Locations |
| Total Bedrooms | 5 |
| Total Baths | 4 |
Exterior Features
| Exterior Amenities | Fire Pit,Garden,Gas Grill,Private Yard,Rain Gutters |
|---|---|
| Fencing | Partial |
| Parking Features | Concrete,Storage |
| Lot Features | Corner Lot,Landscaped,Level,Near Public Transit,Sprinklers In Front,Sprinklers In Rear |
| Water Source | Public |
| Total Parking | 4 |
| Lot Size Area | 9370 |
| Building Area Total | 3613 |
| Lot Size Acres | 0.22 |
| Road Responsibility | Public Maintained Road |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Multi-Family Average in 80204
Price
Taxes
Year Built
Visits
