Colfax & Eaton
- Address: 5701 W. Colfax, 1535 & 1545 Eaton St, Denver, CO
- Budget: $1.65M
- Annualized Return: 24.57%
- Site Size: 52,402 SF (3 parcels)
$1.65M Budget and capital raise
3 Parcel Land Assembly consisting of 5701 W. Colfax and 1535 and 1545 Eaton St with 52,402 sf (1.2 acres) with 133′ frontage along Colfax and 394′ frontage along Eaton. Zoned MGU which allows many uses including multi-residential, attached dwellings, senior housing, hotels, office, retail, and more.
Arete assembled 2 used car dealerships and an adjacent home site.
The site was designed for a 4 story multi-family building with 72 units fronting Colfax on the Southern portion of the property with 10 Townhomes on the 1535 Eaton Parcel.
The townhome project was sold for $700k and 5701 W Colfax was sold for $2,425,000. The home on 1545 Eaton was renovated and sold for $476,000.
Colfax And Eaton Financials
| Sale | $2,425,000 |
| Minus Cost of Sale | $2,352,250 |
| Equity | $1,700,000 |
| Sale of Townhomes | $700,000 |
| Net Profit on 1545 Eaton Renovation | $381,720 |
| Net Profit after Equity Payback | $1,733,970 |
| Annualized Return | 24.57% |