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3233 N Steele ST Denver, CO 80205
5,870 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Multi Family
Listing Status Active
Purchase Type For Sale
Square Footage 5,870 sqft
Price per Sqft $254
MLS Listing ID 9970135
HOA Y/N No
Year Built 1951
Annual Tax Amount $7,967
Tax Year 2025
Lot Size 0.381 Acres
Acres 0.38
Property Sub-Type Multi Family
Source recolorado
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.
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.
Location
State CO
County Denver
Zoning U-RH-2.5
Interior
Fireplace N
Exterior
Garage Spaces 4.0
Roof Type Composition
Total Parking Spaces 10
Garage No
Building
Sewer Public Sewer
Water Public
Structure Type Brick
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
6455 S. Yosemite St., Suite 500 Greenwood Village, CO 80111 USA
Listed by West Peak Properties
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