$700,000
For Sale

990 S Sheridan Boulevard

Denver, CO 80226
Listing OfficeCapstone Apartment Partners, LLC
Type:Purchase
Structure:Land
Zone:Residential

Description

Capstone Companies proudly presents a premier development opportunity in Denver’s thriving Westwood neighborhood: a 34,070 sq ft parcel at the corner of Morrison Road and S Sheridan Blvd, recently upzoned and eligible for Low-Income Housing Tax Credits (LIHTC). With feasibility supporting up to 50 multifamily units, on-site utilities, and potential for increased density via adjacent property acquisition, this site is primed for a lucrative multifamily project. Ideal for local investors, this property combines prime location benefits, significant tax incentives, and development ready status to deliver a compelling investment prospect.
»Upzoned Property: 990 S Sheridan is already approved for higher density, allowing for efficient utilization of the land for multifamily development.
» Development Potential: A recent feasibility study concluded that the parcel can support up to 50 multifamily units. Current density limitations (primarily due to parking requirements) could be mitigated by acquiring the adjacent property at 982 S Sheridan, potentially enhancing the development's scope and profitability.
» Dynamic Neighborhood: The parcel is situated in the Westwood neighborhood, a rapidly developing area southwest of Downtown Denver. Its proximity to downtown amenities and employment centers, combined with the increasing demand for multifamily housing, enhances the property’s appeal to potential residents.
» Qualified Census Tract: This properties eligibility for LIHTC provides significant tax benefits and financial incentives.
» Utilities On-Site: Ready for development with all essential utilities available and no existing structures on the site.

  • Property Details
      • Lot DescriptionLevel
    • Measurements
      • Acres0.78
  • Construction Details
      • Property TypePurchase
  • Utilities / Energy Details
      • Sewer InformationPublic Sewer
  • Community and Neighborhood Details
      • SubdivisionSHERIDAN
    • Location
      • School DistrictDenver 1
      • CountyDenver
  • Financial Details
      • Original List Price$900,000
      • Taxes Annual$8,347
  • Other
      • MLS #6124125

Location

Day and CoReal Estate Group
$
years

Down Payment

$
%
10.0%

Interest Rate

%
6.0%

Tax Rate

%
2.6%
$
$
annually
$
monthly

Note: The results shown are estimates only and do not include all factors. Speak with a licensed agent or loan provider for exact details. This tool is sourced from CloseHack.

Estimated Monthly Payment
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Loan Amount
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