22,996 sqft

$5,975,000

407, 421, 422 29th Street, Denver CO, 80205

Price per sqft$259.83

Built in1929

Property size22,996 sqft

Property typeCommercial

Overview

Sold

Closed

Listed Nov 6, 2025

Updated Jun 2

The Flats on 29th represents an outstanding, renovated 34-unit multifamily investment situated in Denver’s dynamic Five Points neighborhood. This offering is uniquely compelling due to the opportunity for investors to assume an attractive, fixed-rate financing structure, significantly boosting the initial cash yield on a property that has been comprehensively updated within the last decade. The diverse unit mix includes one-, two-, and three-bedroom layouts, providing broad market appeal. Property renovations are extensive, featuring new windows, modern flooring, contemporary paint, and designer lighting. Furthermore, every kitchen has been upgraded with granite countertops, newer cabinetry, and stainless-steel appliances (with dishwashers in select units). Enhancing operational efficiency, all 34 units are individually metered for both gas and electric. The core advantage remains the debt assumption: a 4.26% fixed-rate, interest-only loan offers an immediate, profound financial benefit, reducing debt service and substantially increasing cash flow compared to current conventional financing. This rare combination of a fully updated physical asset, minimal CapEx exposure, and below-market debt positions The Flats on 29th as a prime investment ready for long-term growth. ASSUMABLE FINANCING AT 4.26%, INTEREST ONLY, THROUGH 2029. INDIVIDUALLY METERED FOR GAS AND ELECTRIC. INTERIOR UPDATES INCLUDING: NEWER KITCHENS WITH GRANITE COUNTERTOPS. UPDATED CABINETS AND STAINLESS-STEEL APPLIANCES. UPDATED BATHROOMS WITH TUBS AND DIVERTERS/ TILE SURROUNDS/ALL PLUMBING FIXTURES. NEW EXTERIOR PAINT / CARPETING IN BEDROOMS & WOOD LAMINATE IN LIVING AREAS. 2 BLOCKS TO THE LIGHT RAIL/ DOWNTOWN VIEWS. LOCATED IN DENVER’S HISTORIC FIVE POINTS NEIGHBORHOOD, WITH EASY ACCESS TO RINO ART DISTRICT, DOWNTOWN DENVER AND THE LIGHT RAIL

Additional information

MLS^® ID: 6482809

Interior Features

Basement: No

Exterior Features

Lot Size: 0.4 Acres

Other Property Details

Taxes: $43,488
Tax Frequency: Annually

Listed by Pinnacle Real Estate Advisors, Jim Knowlton, Listing Contact:

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