8828 E Colfax Avenue

Property Details

Overview

Hoff & Leigh proudly presents an opportunity to purchase a 14-unit motel on busy East Colfax. Step into the character and convenience of 8828 E Colfax Avenue in Denver’s East Colfax neighborhood. This opportunity has serious history as part of Colfax Main Street, and it’s a prime spot with easy access to downtown, major roads, and close to local attractions. The La Rue Motel has endless potential along with many recent upgrades. There is also a billboard on premise, creating additional income. 5 units have kitchenettes, there are manager quarters for an on-site manager, and there have been heavy renovations to the entire property including a new electrical service. Call us today to schedule a private tour and see this opportunity for yourself.

• Designated for the Colorado Opportunity Zone Program: https://oedit.colorado.gov/coloradoopportunity-zone-program
• Proforma Cap Rate – 20.46%
• 2024 NOI (Minus Capital Improvements) – $116,623.71
• Billboard Income – $3,300 / Year
• Property Taxes – $3,331.90 / Year

Highlights

Location Map