1001-1003 Adams Street Unit

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Sold Denver, CO 80206 MLS# 3675947 Sold by Jay Johnson on 12/31/2020
$1,221,500
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Multi-Family Property Type
6 Bedroom
0 Bathroom
3 Garage
3600.00 Sq Ft
0.14 Acres
1922 Year Built

Overview

Fantastic, turn-key duplex located in the heart of beautiful Congress Park. Both sides are fully updated/renovated. Strong rental history and little turnover, with most tenants leasing for 2-5 years. Newer roof, easy to maintain landscaping, and great curb appeal. Live in one, rent the other for owner-occupied financing! 1001 Adams has 3 Bedrooms featuring a master suite with an en-suite master bath. The basement has a non-conforming bedroom with a large tv/entertainment room and a wet bar. 1003 Adams has 3 Bedrooms and 1.75 baths (basement bedroom is non-conforming), featuring an eat-in breakfast nook (or a home office area), a large bedroom in the basement with two closets (could easily be split into 2 bedrooms making this a 4 bedroom or converted to master suite). Both units have beautiful hardwood floors, exposed brick in the basements, individual laundry-rooms, and ample storage. There is 3 car garage (2 spaces are currently included with the 1001 lease and 1 car is included with 1003 lease) and a large patio area at the rear of the property. Opportunity to add investment value by raising rents (1001 rent has not been raised in 5 years), charging for garage spaces, charging the tenants for the water bill, and putting the lawn responsibility to the tenant. This is an incredible opportunity to purchase a full-duplex in Congress Park either as an investment property or to offset your own mortgage in the hottest neighborhood in Denver by renting one side and living in the other. Please do not disturb the tenants.

New Home Sales Hours

Courtesy Of VanWest Real Estate Group, LLC
Source: REcolorado

View On REcolorado

Upcoming Open Houses

    Features

    Leasing Information

    Leasing Details
    • Application Fee $
    • Availability Date
    • Corporate Rental?
    • Deposits Potentially Refundable
    • Existing Lease Type
    • Lease Amount $
    • Lease Description
    • Lease Duration
    • Liability Insurance Required
    • Owner Pays Grounds Care,Insurance,Taxes,Trash Collection,Water
    • Rent Deposit
    • Rental Application
    • Security Deposit $
    Pet Details
    • Pet Deposit
    • Pet Rent
    • Pets Allowed

    Interior Features

    Summary

    • Year Built Effective
    Basement Details
    • Basement? Yes
    • Basement Finished,Full
    • Basement Ceiling Height
    Fireplace Detail
    • Fireplace Features Family Room,Gas Log
    • No. of Fireplaces 2
    Square Foot Details
    • SqFt 3,600
    • Living Area, Finished 3,600
    • Above grade, Finished 1,800
    • Basement, Finished 1,800
    • Basement, Unfinished 0
    • PSF Total $339.31
    • PSF Finished $339.31
    • PSF Above Grade $678.61
    Use details
    • Leaseable Area
    • Office Area
    • Retail Area
    • Warehouse Area
    Other
    • Accessibility Features
    • Appliances Bar Fridge,Convection Oven,Cooktop,Dishwasher,Disposal,Dryer,Microwave,Oven,Range,Range Hood,Refrigerator,Washer
    • Building Class
    • Building Features
    • Ceiling Height
    • Common Walls 1 Common Wall
    • Exclusions Tenants personal property.
    • Flooring Wood
    • Furnished
    • Interior Features Breakfast Nook,Granite Counters,Master Suite,Smoke Free,Wet Bar
    • Laundry Availability In Basement,In Unit
    • Security Features Carbon Monoxide Detector(s),Smoke Detector(s)
    • Spa Features
    • Window Features

    Room Details

    Bathroom Details Total Bathrooms:
    Bathroom Location Details
    Bedroom Location Details Total Bedrooms: 6
    More Room Details

    Unit Information

    Summary

    • Number of Units
    • Number of Units Furnished
    • Number of Units Vacant
    • Unit Features
    Single Unit Details
    • Unit Type 3 Bedroom
    • Total Units 1
    • Average Rent 2900.00
    • Average SqFt 1800.00
    • Dishwashers 1
    • Washers 1
    • Dryers 1
    • Hookups 1
    • Refrigerators 1
    • Stoves 1
    • Air Conditions 0
    • Fireplaces
    • Storage Units 0
    • Description 1001 Adams
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit 3
    • Bathrooms per Unit 3
    • Parking Per Unit 2
    • Unit Type 3 Bedroom
    • Total Units 1
    • Average Rent 2900.00
    • Average SqFt 1800.00
    • Dishwashers 1
    • Washers 1
    • Dryers 1
    • Hookups 1
    • Refrigerators 1
    • Stoves 1
    • Air Conditions 0
    • Fireplaces
    • Storage Units 0
    • Description 1003 Adams
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit 3
    • Bathrooms per Unit 2
    • Parking Per Unit 1
    • Unit Type
    • Total Units
    • Average Rent
    • Average SqFt
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit
    • Unit Type
    • Total Units
    • Average Rent
    • Average SqFt
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit
    • Unit Type
    • Total Units
    • Average Rent
    • Average SqFt
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit
    • Unit Type
    • Total Units
    • Average Rent
    • Average SqFt
    • Dishwashers
    • Washers
    • Dryers
    • Hookups
    • Refrigerators
    • Stoves
    • Air Conditions
    • Fireplaces
    • Storage Units
    • Description
    • Actual Rent
    • Total Rent
    • Bedrooms Per Unit
    • Bathrooms per Unit
    • Parking Per Unit

    Exterior/Lot Features

    Summary

    • Available Elevations
    • Entry Location
    • Faces East
    • Horse Amenities
    • Horse Property
    • Levels One
    • Stories
    • Structure Type Duplex
    • Unit Floor # 1
    • View
    Builder Details
    • Builder
    •  
    • Completion Time From Groundbreaking
    • Model Type
    Construction details
    • Architecture Bungalow
    • Construction Materials Brick
    • Foundation Details
    • Roof Composition
    Exterior Details
    • Dock Features
    • Door Features
    • Exterior Features Rain Gutters
    • Fencing None
    • Number of Docks
    • Number of Doors
    • Number of Storage Units
    • Other Equipment
    • Other Structures
    • Patio And Porch Features Covered,Front Porch,Patio
    • Pool Features
    • Ski Features
    Livable Structure Details
    Lot Details​​​​​​​
    • Acres Leased
    • Crop Acres
    • Cultivated Acres
    • Features Corner Lot,Level,Sprinklers In Front
    • Irrigated Acres
    • Lot Number
    • Lot Size Acres 0.14
    • Lot Size Dimensions
    • Lot Size SqFt 5,950
    • Sq Ft
    • Pasture Acres
    • Price Per Acre $8,725,000
    • Vegetation
    • Waterfront Features
    Mobile Details
    • Make
    • Model
    • Body Type
    • Exterior Dimensions x
    • Skirt
    Outbuilding details
    Road details
    • Access
    • Road Responsibility
    • Road Surface

    Parking/Garage

    Parking Space Summary

    Parking Features
    Concrete

    • Total Parking Spaces 5
    • Garage Spaces
    • Total Carport Spaces
    • Total Offstreet Spaces 2
    • Total Reserved Spaces 0
    • Total RV Spaces 0
    Parking Space Details

    Utilities & Green Home Features

    Summary

    • Cooling Evaporative Cooling
    • Green Energy Efficient
    • Heating Forced Air
    • HVAC Description
    Green Ratings
    Power Production Details
    Sewer
    • Sewer Public Sewer
    • Sewer Fee
    • Sewer Tap Paid YN
    Utilities details
    • Electric Service
    • Gas Tap Fee
    • Gas Tap Paid YN
    • Utilities
    Water / Well
    • Irrigation Source
    • Issued Well Permit Numbers
    • Water Available
    • Water Source Public
    • Well Type
    • Well Usage
    • Water Fees
    • Water Tap Paid?
    • Water/Mineral Rights

    Association Information

    HOA Summary

    • Amenities Completed
    • Amenities Opening
    • Association Amenities
    • Association(s) No
    • HOA Fee Includes
    • Total Annual HOA Fees $0
    1st HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    2nd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    3rd HOA
    • HOA
    • Type
    • Fee $
    • Phone
    • Total Annual Fee $0.00
    • Website
    Restrictions & Covenants
    • Pets Allowed
    • Rentals Allowed
    • Restrictions
    • Restrictions Other
    • Restrictions/Covenants? No

    Financial Considerations

    Summary

    • Cap Rate
    • Cap Rate Calculation Actual NOI divided by Purchase Price.
    Actual expense details
    • Annual Expenses Benefits
    • Annual Water Expense $
    • Association Fee Annual Expense $
    • Cable TV Expense $
    • CAM Fees $
    • Electric Expense $
    • Gas Expense $
    • Insurance Expense $
    • Internet Annual Expense $
    • Maintenance Expense $
    • Operating Expense $10,051
    • Operating Expense Includes Accounting,Advertising,Association,Fuel,Insurance,Legal,Maintenance,Real Estate Tax,Utilities
    • Other Expense
    • Payroll Annual Expense $
    • Personal Property Annual Expense $
    • Phone Annual Expense $
    • Professional Management Expense $
    • Real Estate Taxes $
    • Workmans Compensation Expense
    Commission Information
    • Buyer Agency Compensation 2.50%
    • Transaction Broker Compensation 2.50%
    • Compensation Offered
    • Dual Variable Compensation No
    • Commission Modified Decrease
    • Closing Comments Buyer Commission used to lower purchase price. Credit provided for a couple of inspection items.
    Income details
    • Actual Annual Net Income $59,549
    • Gross Income $69,600
    • Income Includes
    • Income Includes Description
    Landleasing details
    • Land Lease Amount
    • Land Lease Amount Frequency
    • Land Lease?
    Projected
    • Other Annual Income $
    • Potential Rental Income Annual $
    • Projected Annual Expense $12,000
    • Projected Annual Net Income $64,000
    • Projected Gross Income $76,000
    • Projected Gross Operating Income $
    • Vacancy Credit Losses
    Tax details
    • Annual Tax $4,345
    • Legal Description L 11 & 12 EXC REAR 6FT TO CITY BLK 302 CAPITOL AVE SUB 3RD FLG
    • Tax Exemptions
    • Tax ID 5014-08-007
    • Tax Year 2019
    Other
    • Tenant Pays Cable TV,Electricity,Gas,Internet,Telephone
    • Utilities Metering Common Water,Separate Electric,Separate Gas
    • Utilities Paid By Tenant Direct Billing from Utility

    Neighborhood

    Summary

    • Building Name
    • Development Name
    • Park Name
    • Senior Community No
    • Subdivision Congress Park
    New Home Community
    • Community Description
    • Community MLS #
    • Community Name
    • Community Opening
    • Community Website
    • Current Promotions
    • Development Status
    • Directions from Agent
    • Move In Date
    • New Home Available Options
    • New Home Land MLS #
    • New Home Plan MLS #
    Zoning Details
    • Current Use
    • Incorporated? No
    • Zoning U-SU-B
    • Zoning Jurisdiction

    Other

    Business Details
    • Business Amenities
    • BusinessDescription
    • BusinessType
    • Year Established
    History
    • Original List Price $1,325,000
    Partial Ownership Details
    • Partial Ownership Amount
    • Week Remarks
    • Weeks Available
    Other
    • Home Warranty 0
    • Ownership Individual
    • Possession
    • Special Listing Conditions None Known
    • Year Built 1922

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    School Zone

    District: Denver 1
    Schools: Teller Elementary School, East High School, Morey Middle School

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    Walk Score

    Bike Score

    Bike Score

    0 description
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    Transit Score

    0 description summary
    Walk Score

    Walk Score

    0 description
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