NOT LISTED FOR SALE

Estimated Value: $799,000 - $960,000

4 Beds
4 Baths
2,438 Sq Ft
$352/Sq Ft Est. Value

Last Sold February 27, 2023

Last sale price $720,000 $295 Per Sq Ft

Est. 19% increase in value since last sale

Current estimated payment $5,071/month

62 Days on Market

Highlights

  • American Four Square Architecture
  • Private Yard
  • Front Porch
  • South High School Rated A-
  • Balcony
  • 4-minute walk to Hungarian Freedom Park

About This Home

As of February 2023

Priced reduced to sell. Don't let this one slip out of your hands. Contact the listing broker directly to set up a tour.

540 E 1st Ave is centrally located in one of Denver's most popular residential neighborhoods. The unit mix consists of one 2Br/2Ba unit and two 1Br/1Ba units. The main floor unit as well as the top floor unit are equipped with washers and dryers, which is a rare feature. Additionally, the property offers a considerable amount of off-street parking.
Given the properties' prime location, tenants are able to enjoy some of Denver's best local amenities. Tenants are just one block from Rosebuds Café and are minutes away from the Cherry Creek trail and Alamo Placita Park.
New owners have the ability to make minor improvements, such as updating the landscaping, which will make the property more appealing to future tenants. By making some minor improvements to the current condition of the units, new owners should be able to raise rents by a considerable amount. 540 E 1st has the opportunity to become the next best trophy asset in one of Denver’s most popular neighborhoods!
Recommended improvements are as follows: Complete Unit Renovations, Landscaping/Curb Appeal, Exterior Paint Job

Last Agent to Sell the Property

Phil Dankner

Unique Properties LLC License #100052493 Listed on: 10/11/2022

Property Details

Home Type

  • Multi-Family

Est. Annual Taxes

  • $3,490

Year Built

  • Built in 1901

Lot Details

  • 2,290 Sq Ft Lot
  • Level Lot
  • Private Yard

Home Design

  • Triplex
  • American Four Square Architecture
  • Victorian Architecture
  • Brick Exterior Construction
  • Composition Roof

Interior Spaces

  • 3-Story Property
  • Finished Basement
  • Partial Basement

Bedrooms and Bathrooms

  • 4 Bedrooms
  • 4 Bathrooms

Outdoor Features

  • Balcony
  • Patio
  • Rain Gutters
  • Front Porch

Schools

  • Dora Moore Elementary And Middle School
  • South High School

Utilities

  • Forced Air Heating and Cooling System
  • Separate Meters
  • Shared Gas Meter
  • Shared Water Meter

Community Details

  • Waddell And Machen's Subdivision
  • Operating Expense $15,020

Listing and Financial Details

  • Tenant pays for cable TV, electricity, internet
  • The owner pays for gas, grounds care, insurance, taxes, trash collection, water
  • Assessor Parcel Number 5104-03-032

Property Details

Home Type

Multi-Family

Est. Annual Taxes

$3,490

Year Built

Built in 1901

Lot Details

0

Listing Details

  • Property Type: Residential Income
  • Property Sub Type: Triplex
  • Architectural Style: Denver Square, Victorian
  • Structure Type: Triplex
  • Levels: Three Or More
  • Above Grade Price per Sq Ft: 410.49
  • Finished Price per Sq Ft: 295.32
  • Total Price per Sq Ft: 295.32
  • Year Built: 1901
  • Above Grade Finished Sq Ft: 1754.00
  • Actual Annual Net Income: 22120.00
  • Living Area: 2438.00
  • P P A: 14400000.00
  • Projected Annual Expense: 16615.00
  • Projected Annual Net Income: 52605.00
  • Projected Gross Income: 69220.00
  • Utility Metering: Common Gas, Common Water, Separate Electric
  • SubdivisionName: Waddell and Machen's
  • Special Features: None

Interior Features

  • Basement: Finished, Partial
  • Basement: Yes
  • Total Bedrooms: 4
  • Below Grade Sq Ft: 684.00

Exterior Features

  • Roof: Composition
  • Construction Materials: Brick
  • Exterior Features: Balcony, Private Yard, Rain Gutters
  • Patio and Porch Features: Front Porch, Patio

Utilities

  • Sewer: Public Sewer
  • Cooling: Central Air
  • Heating: Forced Air
  • Water Source: Public

Fee Information

  • Operating Expense: 15020.00

Schools

  • School District: Denver 1
  • Elementary School: Dora Moore
  • Middle School: Dora Moore
  • High School: South
  • Middle Or Junior School: Dora Moore

Lot Info

  • Parcel Number: 5104-03-032
  • Lot Size Acres: 0.05
  • Building Area Total: 2438.00
  • Lot Features: Level
  • Lot Size Sq Ft: 2290.00

Rental Info

  • Owner Pays: Gas, Grounds Care, Insurance, Taxes, Trash Collection, Water
  • Tenant Pays: Cable TV, Electricity, Internet

Multi Family

  • Unit Count: 3
  • Utility Billing to Tenants: Direct Billing from Utility

Tax Info

  • Tax Year: 2021
  • Tax Annual Amount: 3490.00

MLS Schools

  • Elementary School: Dora Moore
  • High School: South

Ownership History

Date Name Owned For Owner Type

Purchase Details

Listed on
Oct 11, 2022
Closed on
Feb 27, 2023
Sold by
Brownson Michael P
Bought by
540 1St Llc
Seller's Agent
Phil Dankner
Unique Properties LLC
Buyer's Agent
Phil Dankner
Unique Properties
List Price
$975,000
Sold Price
$720,000
Premium/Discount to List
-$255,000
-26.15%
Total Days on Market
62
Views
15
Current Estimated Value
$857,615

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Estimated Appreciation
$137,615
Avg. Annual Appreciation
7.87%
Original Mortgage
$605,000
Outstanding Balance
$508,371
Interest Rate
6.33%
Mortgage Type
New Conventional
Estimated Equity
$349,244

Purchase Details

Closed on
Sep 11, 2013
Sold by
Phantom Creek Properties Llc
Bought by
Brownson Michael P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$240,000
Interest Rate
4.41%
Mortgage Type
New Conventional

Purchase Details

Closed on
Oct 29, 2010
Sold by
Brownson Mike P
Bought by
Phantom Creek Properties Llc

Purchase Details

Closed on
Jan 29, 2010
Sold by
Brownson Mike P and Brannan Brownson Ramona
Bought by
Brownson Mike P

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$248,500
Interest Rate
4.93%
Mortgage Type
New Conventional

Purchase Details

Closed on
Aug 7, 2008
Sold by
Indymac Bank Fsb
Bought by
Brownson Mike P and Brannan Brownson Ramona

Purchase Details

Closed on
Apr 8, 2008
Sold by
Wagner Mona Lisa
Bought by
Indymac Bank Fsb

Purchase Details

Closed on
Oct 24, 2003
Sold by
Johnson Mark Kepler and Johnson James Ray
Bought by
Wagner Mona Lisa

Home Financials for this Owner

Home Financials are based on the most recent Mortgage that was taken out on this home.
Original Mortgage
$251,200
Interest Rate
8%
Mortgage Type
Unknown
Source: Public Records

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Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area





Source: Public Records

Purchase History

Date Buyer Sale Price Title Company
540 1St Llc $720,000 Land Title
Brownson Michael P -- Land Title Guarantee Company
Phantom Creek Properties Llc -- Stewart Title Of Denver Inc
Brownson Mike P -- None Available
Brownson Mike P $220,800 Chicago Title Co
Indymac Bank Fsb -- None Available
Wagner Mona Lisa $314,000 --
Source: Public Records

Mortgage History

Date Status Borrower Loan Amount
Open 540 1St Llc $605,000
Previous Owner Brownson Michael P $240,000
Previous Owner Phantom Creek Properties Llc $244,369
Previous Owner Brownson Mike P $248,500
Previous Owner Wagner Mona Lisa $300,000
Previous Owner Wagner Mona Lisa $251,200
Source: Public Records

Property History

Date Event Price Change Sq Ft Price
02/27/2023 02/27/23 Sold $720,000 -10.0% $295 / Sq Ft
12/12/2022 12/12/22 Pending -- -- --
12/05/2022 12/05/22 Price Changed $800,000 -5.9% $328 / Sq Ft
10/27/2022 10/27/22 Price Changed $850,000 -12.8% $349 / Sq Ft
10/11/2022 10/11/22 For Sale $975,000 -- $400 / Sq Ft
Source: REcolorado®

Tax History Compared to Growth

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $3,528 $44,550 $21,760 $22,790
2023 $3,452 $44,550 $21,760 $22,790
2022 $3,537 $44,480 $17,710 $26,770
2021 $3,490 $46,770 $18,620 $28,150
2020 $3,533 $47,620 $15,520 $32,100
2019 $3,434 $47,620 $15,520 $32,100
2018 $2,388 $30,870 $11,720 $19,150
2017 $2,381 $30,870 $11,720 $19,150
2016 $2,253 $27,630 $10,364 $17,266
2015 $2,159 $27,630 $10,364 $17,266
2014 $1,805 $21,730 $10,030 $11,700
Source: Public Records

Agents Affiliated with this Home

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Map

Source: REcolorado®

MLS Number: 2759357

REcolorado®

APN: 5104-03-032