6200 E Iliff AVE, Denver, CO 80222
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6200 E Iliff AVE, Denver, CO 80222
6200 E Iliff AVE, Denver, CO 80222
6200 E Iliff AVE, Denver, CO 80222
6200 E Iliff AVE, Denver, CO 80222
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Crystal Martinez

Crystal Martinez

+1(719) 922-7383
$ 2,495,000
Est. payment /mo
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Active

6200 E Iliff AVE Denver, CO 80222

7,616 SqFt

UPDATED:

Key Details

Property Type Commercial

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 7,616 sqft

Price per Sqft $327

MLS Listing ID 2107861

HOA Y/N No

Year Built 1994

Annual Tax Amount $13,841

Tax Year 2024

Lot Size 0.324 Acres

Acres 0.32

Property Sub-Type Multi Family

Source recolorado

Property Description

**Recent Leasing Activity Validates Pro Forma:** Since bringing the property to market, ownership has leased one of the lower-level units for **$2,150 per month plus $100 per month in utility reimbursements**, providing real-world validation of the property's projected income potential. Pelican Cove Apartments is a rare 8-unit, townhome-style multifamily investment located in one of South Denver's most desirable rental corridors near I-25, the University of Denver, and the Denver Tech Center. The property features eight spacious 2-bedroom, 1-bath residences averaging approximately 1,000 square feet, each with in-unit laundry, central air conditioning, and forced-air heating. Configured as four stacked duplex-style buildings, Pelican Cove offers a low-density, residential feel that consistently attracts long-term tenants seeking privacy and separation not typically found in traditional apartment communities. Originally built and owned by the same family for over 30 years, the property reflects exceptional pride of ownership and has been meticulously maintained with numerous capital improvements, including newer water heaters, upgraded exterior lighting, resurfaced parking areas, and ongoing system upgrades. The asset offers multiple avenues for future income growth through continued rental increases, utility reimbursements (RUBS), parking monetization, and pet rent, while current leasing activity continues to support the property's projected upside. With strong in-place cash flow, an attractive unit mix, outstanding physical condition, and clear value-add opportunities, Pelican Cove presents a compelling investment opportunity for local and national multifamily investors, including 1031 exchange buyers seeking a well-maintained Denver asset with long-term upside.

Location

State CO

County Denver

Interior

Fireplace N

Exterior

Exterior Feature Balcony, Barbecue, Dog Run, Garden, Gas Grill

Garage Spaces 12.0

Utilities Available Cable Available, Electricity Connected, Natural Gas Connected, Phone Connected, Sewer Connected

Roof Type Composition

Total Parking Spaces 12

Garage No

Building

Lot Description Irrigated

Sewer Public Sewer

Water Public

Structure Type Concrete

Others

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Special Listing Condition None

REColorado (REColorado MLS)
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by Grant Real Estate Company

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Crystal Martinez

Crystal Martinez

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+1(719) 922-7383

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6200 E Iliff AVE