GET MORE INFORMATION
We respect your privacy! Your information WILL NOT BE SHARED, SOLD, or RENTED to anyone, for any reason outside the course of normal real estate exchange. By submitting, you agree to our Terms of Use and Privacy Policy.
$ 3,550,000
$ 3,600,000 1.4%
Est. payment /mo
Sold on 07/30/2026
2940 W Arkansas AVE Denver, CO 80219
18,482 SqFt
UPDATED:
Key Details
Sold Price $3,550,000
Property Type Commercial
Sub Type Multi Family
Listing Status Sold
Purchase Type For Sale
Square Footage 18,482 sqft
Price per Sqft $192
MLS Listing ID 8466675
Sold Date 07/30/26
HOA Y/N No
Year Built 1961
Annual Tax Amount $22,548
Tax Year 2024
Lot Size 0.935 Acres
Acres 0.94
Property Sub-Type Multi Family
Source recolorado
Property Description
Ponderosa Apartments represents a quality multifamily investment opportunity situated within a high-demand, transit-oriented Denver submarket. The property distinguishes itself by offering an exceptional 7% CAP rate based on actual trailing 12 month numbers, providing investors with immediate and robust cash flow that outperforms typical market yields for stabilized assets. This strong day-one return is coupled with a significant reduction in risk, as ownership has recently addressed the property's major infrastructure needs. These critical capital improvements include the installation of a new boiler system, a full electrical upgrade with the replacement of all electrical panels, and the professional resurfacing of the asphalt parking lot. The asset features a strategic unit mix consisting of large two-bedroom and three-bedroom floor plans. The spacious layouts allow the property to attract and retain a stable, long-term tenant base. Further enhancing the investment thesis is a proven value-add track record; with 50% of the units already fully renovated, there is a clear proof of concept regarding the rent premiums achievable in the local market. A new owner can focus on finishing the remaining classic units to capture additional upside and drive net operating income. 7% CAP RATE ON ACTUAL NUMBERS, 9.5% CASH ON CASH RETURN. (19) 2BR/1BA & (1) 3BR/2BA UNITS. NEW BOILER. UPDATED WINDOWS. NEW PARKING LOT ASPHALT RESURFACING. NEWER ROOF. ALL ELECTRIC PANELS REPLACED. 50% OF THE UNITS HAVE BEEN FULLY RENOVATED WITH NEW FLOORING CABINETS, COUNTERTOPS, APPLIANCES, AND FULL BATHROOM REMODELS.
Location
State CO
County Denver
Zoning E-MU-2.5
Interior
Fireplace N
Exterior
Total Parking Spaces 40
Garage No
Building
Sewer Public Sewer
Water Public
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Special Listing Condition None
© 2026 METROLIST, INC., DBA RECOLORADO® – All Rights Reserved
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Pinnacle Real Estate Advisors
Bought with NON MLS PARTICIPANT
Bought with NON MLS PARTICIPANT
NEARBY SCHOOLS & PROPERTIES