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3563 N Krameria St, Denver, CO 80207

$515,000
: 4
BD
: 2
BA
: 1,992
SqFt

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Sold Price: $515,000
List Price: $530,000
Closing Date: Nov 15, 2023
Type: Single Family Residential
Property Sub Type: Single Family Residence
Status: CLOSED
MLS Number: 5755943
Bedrooms: 4
Bathrooms: 2
Sqft Total: 1,992
Year Built: 1953

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Property Description

Introducing a promising investment opportunity in Northeast Park Hill. This 1953 raised brick up/down duplex boasts two separate units, each featuring two bedrooms and one bathroom, with 996 sq. ft. of living space per unit, totaling 1992 sq. ft in the building. The 6250 sq. ft. double lot showcases two trees gracing the front yard. The upper unit showcases cove ceilings, adding character to this investment property. While public records list the apartment address as 3563 Krameria, informally the garden level unit is known as 3561 Krameria. The lower unit enjoys plenty of natural light pouring in through large windows, thanks to its 8ft ceiling height. Each unit has its own gas meters and electrical panels. A shared coin-operated laundry room on the lower level provides an opportunity for additional income. The backyard offers a covered patio, a lawn area, and four off-street parking spaces. The previous owner used this property for Section 8 housing, making $1600 per unit, totaling $3200 per month. With renovations, you can expect rental rates in the range of $2k - $2.5K per unit, significantly increasing your income potential. The neighborhood is witnessing remarkable growth, with a recently remodeled single-family home across the street under contract for $635K, offering almost $100K more for half the space. With updates, I estimated the property could be worth approximately $775K (reference: Listing at 3334 Olive Street, Denver, CO 80207). Don’t miss out on this incredible investment opportunity in a rapidly appreciating area. Contact us today to explore the potential of this duplex and secure your foothold in the thriving Park Hill neighborhood!

(303) 522-8226

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Additional Information

Lot Size Acres: 0.14
Lot Size Sq Ft: 6,250
Tax Amount: $2,263
Exterior Features: Private Yard
Water Source: Public
Sewer: Public Sewer
Basement Type: Daylight, Exterior Entry, Finished, Full, Walkout
Heating: Forced Air
Cooling: Evaporative Cooling, None
School District: Denver 1
Elementary School: Smith Renaissance
Middle Or Junior School: DSST: Conservatory Green
High School: East