Apex 980 is a 30-unit multifamily community across two adjoining parcels at 980 and the vacant 970 S. Dexter Street, both zoned MX-8 with potential for development. The seller offers the parcels and existing building as a single opportunity. Built in 1974 and improved with ongoing updates over the course… Read More of ownership, the property is distinguished by a furnished and flexible-term leasing model. Roughly two-thirds of units include furniture, utilities, and/or parking bundled into base rent, which has allowed ownership to achieve premium in-place rents relative to a traditional unfurnished workforce product. The property serves a resilient tenant base of relocating professionals, traveling workers, and mid-term renters. Current signed rent roll ($35,248/month base rent) has climbed steadily through 2026 (from $28,123/month in January), reflecting in-place mark-to-market upside progressively captured through re-leasing. Unified two-parcel assemblage provides dedicated parking/site infrastructure on the 970 parcel and clean ownership history, uncommon for a 30-unit asset in this location. Beyond its in-place income, Apex 980's assemblage offers a buyer potential optionality on the 970 S. Dexter parcel, which today provides surface parking and site infrastructure rather than income-producing improvements. In 2024, the City and County of Denver adopted a proactive rezoning. That rezoning introduced a series of Suburban Mixed Use zone districts along major corridors, and Denver's citywide parking reform has also eliminated minimum off-street parking requirements in many mixed-use districts. Read Less
Listing Snapshot
Days Online
1
Last Updated
Property Type
Multi Family
Square Ft.
19,262
Year Built
1974
MLS Number
5637784
Additional Details
Building
Built in 1974, Built in 1974 (effective)
Expenses
Operating: $118,300
Income
Gross Income: $449,638
Parking
50 total parking spaces
Sewer
Public Sewer
Taxes
Parcel Number: 6183-03-015, Annual Amount: $22,340, Legal Description: SWANDORA LANE SUB PT L6 BEG NE COR L6 TH S 105.10FT CV/R RAD15FT DELTA 89.3647 CHORD S 44.5928 W ARC 21.14FT W 100.45FTN 120.00FT E 115.48FT TPOB, Year: 2025, Zoning: S-MX-8
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Listings courtesy of METROLIST, INC., DBA RECOLORADO® as distributed by MLS GRID, based on information submitted to the MLS GRID as of . Information is provided exclusively for consumers' personal noncommercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Data is deemed reliable but is not guaranteed by MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may be listed or sold by various participants in the MLS, who may not be the office/agent presenting the information.
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