364 S Newton St, Denver CO 80219

Description

DON'T MISS THIS INCREDIBLE INVESTMENT/DEVELOPMENT OPPORTUNITY! This property is being sold together with the adjacent lot (372 S Newton Street) which will give you a total of 17,210 square feet, or .40 of an acre total. The current 2 single family properties are income producing with month-to-month tenants, who will need a 30 day notice to vacate. The first home is approx 900 sq ft and has 2 beds, 1 bath, great room, fully remodeled kitchen. The second home is approx. 475 sq ft and has 1 bed, 1 bath, great room, and kitchen. Each lot has its own large private yard. Current rent for the larger home is $1200, current rent for the smaller home is $500. Current rental comps in the area range around $2100 for the larger home, and $1100 for the smaller home. Homes are newer than built in year 1924, we are unsure of the exact year they were built, approximately year 2000. The zoning is E-TU-C. Having both lots will enable you to construct 4 units in this up and coming Belmont Park neighborhood. Zoning can be re-approved to allow for more units. The zone lot amendment has been approved, additional permits will come if and when units are demolished. Architectural drawings are included. location is amazing. You are minutes to shopping, dining, entertainment, and downtown Denver and the newly constructed neighborhood park is just across the street. Build and sell or long term hold possibilities. Lots are very similar to the development on 435 S. Newton for comparison for development. Call today!