Beautiful Frank Edbrooke designed Denver Mansion sitting in a great central location at 17th and Downing. Nearby law offices and residential create a nice serene setting to house your business or live/work in this versatile property! Recent attic remodel has a 3 bedroom/1 bath apartment with it's own heat/AC units. The gorgeous original hardwood flooring, wood casings, staircase, stain glassed windows, 4 authentic fireplaces with original trim and tile, and high ceilings create exceptional office spaces for employees or separate business owners flexible enough for a wide variety of business and residential uses. The untapped potential lies in the large 1,465SF partially finished basement. There is a half bath and 9/10 foot ceilings and two entrances. Once remodeled, this space could generate another $2500/month in revenue as a residential unit, office, or even retail/food service with the G-RO zoning. Plenty of parking for the tenants offering 9 off street spaces. The outside area is also amazing with a front covered porch, fenced side yard, and rear Trex deck to enjoy the Colorado weather!
Leases are in place through 2023, but after that or prior through use of the basement, and owner/user could occupy this property. The most beneficial future use for the basement would be as residential. Once completed the apartment would have it's own exterior entrance and the owner would need to get the new mixed-use approved with the city to reduce the current high office tax rate. The city has been very responsive to use changes to multi-family with the recent housing shortage. Upon remodel and new least in place, the value of the building using income approach will go up to $2M or higher!
Showings will begin Tuesday, August 9th, but most offices will not be available to show. Just the common areas, basement and attic unit. Seller is moving out of state and wants to liquidate.
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