Golf Course
Address
3233 N Steele Street, Denver, CO
Price
$ 1,495,000
Property Attributes
- MLS#9970135
- TypeCommercial
- Listing Status Active
- CountyDENVER
- CityDenver
- Zip80205
- StyleLow Rise (1-3)
- Year Built1951
- Taxes$ 7967
- Price$ 1,495,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage5870
- Lot Size0.38 Acres
Data Source:
REColorado (MTOMLS)
Property Description
Opportunities with this combination of land size, unit size, and long-term flexibility are exceptionally hard to find in Denver, especially for this price. Sitting on an extraordinary 16,600 sq ft lot, this 6-unit multi-family property features large 2 and 3 bedroom layouts ranging from 900 to 1,000 sq ft, offering far more livability, privacy, and tenant retention than typical multifamily buildings. Each unit connects only at the corners, meaning no shared walls, windows on all sides, abundant natural light, and a level of privacy that is almost unheard of in a 6-unit asset. The massive lot provides extensive outdoor space, including detached garages, off-street parking for every unit, and a large fenced yard, making this property feel more like a small residential community than a standard multifamily. All units are individually metered for gas and electric, helping keep expenses low and NOI strong. Recent improvements include new furnaces, new water heaters, new gutters, plumbing upgrades, exterior paint, and concrete replacement, creating a profitable and stable asset today with meaningful room for additional income growth through unit improvements, laundry income, garage income, adding ADUs, and light cosmetic enhancements. Located just minutes from City Park, City Park Golf Course, the Denver Zoo, and the Museum of Nature & Science, the surrounding area is filled with newer builds and renovated homes, reinforcing long-term neighborhood value. With U-RH-2.5 zoning and one of the largest multifamily parcels in the neighborhood, this site offers exceptional redevelopment flexibility including the potential for up to 10 townhomes, up to 12 small apartments, or adding ADUs to the existing structure, subject to city approval. Combined with strong in-place income, multiple growth pathways, and a former appraisal of $1,900,000, Steele Street stands out as one of the most versatile and compelling multifamily opportunities available in Denver for this price.
| Price History | |
|---|---|
| 6/13/2026 | Listed $1,495,000 |
General Features
| Sewer | Public Sewer |
|---|---|
| Possession | Closing/DOD |
| Roof | Composition |
| Zoning | U-RH-2.5 |
| Garage Spaces | 4 |
| Security Features | Carbon Monoxide Detector(s),Smoke Detector(s) |
| Construction Materials | Brick |
| Exclusions | All tenant-owned personal property,including any items located within the units or in any exterior or common areas (such as patios,porches,or yards). |
| Year Built | 1951 |
| Tenant Pays | Electricity,Gas,Internet |
| Stories Count | 2 |
| Property Subtype | Multi Family |
| Tax Year | 2025 |
| Current Use | Multi-Family |
| OwnerPays | Taxes,Trash Collection,Water |
| Building Name | Steel Street Apartments |
| County | Denver |
| Property Type | Commercial Sale |
| Attached Garage | No |
| Building Features | Laundry |
| Status | Active |
| Directions | From Martin Luther King Jr. Blvd,head north on N Steele St. to 3233 N Steele St,which will be on your left. |
| City | Denver |
| Number Of Units Total | 6 |
| Lot Size Units | Square Feet |
| Lot Size Square Feet | 16600 |
| Listing Terms | Cash,Conventional |
| Tax Annual Amount | 7967 |
| Structure Type | Low Rise (1-3) |
| Standard Status | Active |
| Occupancy Type | Tenant |
| Cap Rate | 6.97 |
Exterior Features
| Water Source | Public |
|---|---|
| Total Parking | 10 |
| Lot Size Area | 16600 |
| Building Area Total | 5870 |
| Lot Size Acres | 0.38 |
| Road Surface Type | Paved |
| Road Frontage Type | Public |
| Road Responsibility | Public Maintained Road |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Commercial Average in 80205
Price
Taxes
Year Built
Visits
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