The Glenellen
The Glenellen | 1432 N Pennsylvania | 3.79% Assumable IO Loan | $82K Cash Flow
Marketing description
The Glenellen is a distinguished trophy asset positioned in the heart of Capitol Hill - one of Denver’s most walkable and desirable urban neighborhoods. The property comprises eight generously sized 2-bedroom/2-bathroom residences with private office nooks, a configuration that is genuinely rare in this submarket. Each unit has been thoughtfully renovated with designer luxury vinyl plank flooring, updated kitchens and baths, stainless appliances, upgraded lighting, and in-unit washer/dryer. The building’s classic brick exterior and gated courtyard lend exceptional curb appeal, while five private garage spaces provide a tenant amenity that commands a meaningful premium on this block. What truly differentiates this offering is the assumable CBRE Freddie Mac SBL loan - fixed at 3.79% interest-only until May 2031 - a financing structure that is nearly impossible to replicate in today’s rate environment and creates immediate, tangible cash flow advantages for the acquiring investor.
Investment highlights
- RARE ASSUMABLE FINANCING AT 3.79% FIXED, INTEREST-ONLY THROUGH MAY 2031
- BUILT BACK FROM THE STUDS IN 2010 – NEWER PLUMBING AND ELECTRICAL
- EIGHT LARGE CONDO-STYLE 2BD/2BA UNITS WITHOFFICE NOOKS
- TURN-KEY ASSET - UPGRADED WITH DESIGNER LVP FLOORING, NEW KITCHENS, UPDATED BATHS, STAINLESS APPLIANCES, IN-UNIT WASHER/DRYER, AND MODERN LIGHTING
- POTENTIAL FOR CONDO CONVERSION AND/OR ADU ADDITIONS
- FIVE PRIVATE GARAGE SPACES - A HIGHLY DIFFERENTIATED AMENITY IN AN URBAN SUBMARKET WHERE OFF-STREET PARKING IS SCARCE
- PREMIER CAPITOL HILL LOCATION - WALK SCORE 97
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