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$ 600,000
Est. payment /mo
Price Dropped by $100K
990 S Sheridan Blvd Denver, CO 80226
0.78 Acres Lot
UPDATED:
11/22/2024 09:06 PM
Key Details
Property Type Vacant Land
Sub Type Unimproved Land
Listing Status Active
Purchase Type For Sale
Subdivision Sheridan
MLS Listing ID 6124125
HOA Y/N false
Originating Board REcolorado
Annual Tax Amount $8,347
Lot Size 0.780 Acres
Acres 0.78
Property Description
Capstone Companies proudly presents a premier development opportunity in Denver's thriving Westwood neighborhood: a 34,070 sq ft parcel at the corner of Morrison Road and S Sheridan Blvd, recently upzoned and eligible for Low-Income Housing Tax Credits (LIHTC). With feasibility supporting up to 50 multifamily units, on-site utilities, and potential for increased density via adjacent property acquisition, this site is primed for a lucrative multifamily project. Ideal for local investors, this property combines prime location benefits, significant tax incentives, and development ready status to deliver a compelling investment prospect.
>>Upzoned Property: 990 S Sheridan is already approved for higher density, allowing for efficient utilization of the land for multifamily development.
>> Development Potential: A recent feasibility study concluded that the parcel can support up to 50 multifamily units. Current density limitations (primarily due to parking requirements) could be mitigated by acquiring the adjacent property at 982 S Sheridan, potentially enhancing the development's scope and profitability.
>> Dynamic Neighborhood: The parcel is situated in the Westwood neighborhood, a rapidly developing area southwest of Downtown Denver. Its proximity to downtown amenities and employment centers, combined with the increasing demand for multifamily housing, enhances the property's appeal to potential residents.
>> Qualified Census Tract: This properties eligibility for LIHTC provides significant tax benefits and financial incentives.
>> Utilities On-Site: Ready for development with all essential utilities available and no existing structures on the site.
>>Upzoned Property: 990 S Sheridan is already approved for higher density, allowing for efficient utilization of the land for multifamily development.
>> Development Potential: A recent feasibility study concluded that the parcel can support up to 50 multifamily units. Current density limitations (primarily due to parking requirements) could be mitigated by acquiring the adjacent property at 982 S Sheridan, potentially enhancing the development's scope and profitability.
>> Dynamic Neighborhood: The parcel is situated in the Westwood neighborhood, a rapidly developing area southwest of Downtown Denver. Its proximity to downtown amenities and employment centers, combined with the increasing demand for multifamily housing, enhances the property's appeal to potential residents.
>> Qualified Census Tract: This properties eligibility for LIHTC provides significant tax benefits and financial incentives.
>> Utilities On-Site: Ready for development with all essential utilities available and no existing structures on the site.
Location
State CO
County Denver
Area Metro Denver
Zoning E-TU-C
Building
Lot Description Level
Sewer City Sewer, Public Sewer
New Construction false
Schools
School District Denver 1
Others
Senior Community false
Special Listing Condition Other Owner
Listed by Capstone Apartment Partners, LLC • [email protected]