Griffis Cherry Creek Apartments

JLL as exclusive investment advisor is pleased to present Griffis Cherry Creek, located in the heart of Denver’s prestigious Cherry Creek neighborhood. This remarkable 2008 vintage comprises 240 units and represents a rare value-add opportunity poised to capture the area's escalating rental demand.

This unique opportunity is strategically situated amidst Cherry Creek’s premier amenities, including a dynamic entertainment district, upscale shopping, and a diverse office market. Just blocks away, this property offers unmatched connectivity to a robust employment sector with 18,000+ employees and over 200 high-end retailers. The demographic allure is evident, with local household incomes averaging $190K and home prices surpassing $1.34M, situating Griffis Cherry Creek in Denver’s most affluent enclave.

Griffis Cherry Creek has completed renovations on 40% of its units, indicating significant upside potential through remaining unit upgrades. Renovated units achieve rent premiums of $250-$350/unit, aligning competitively with Cherry Creek’s “Class A” sector, where rents exceed $3,281/unit. With the area's constrained housing supply and rising ownership costs, this asset capitalizes on rental growth, offering a 3.85X economical alternative to homeownership within a 1-mile radius.

Investors will benefit from a compelling financing option with the potential to assume an existing Fannie Mae loan featuring a 3.53% fixed rate maturing in July 2029. The combination of elite location, investment upside, and financing options makes Griffis Cherry Creek an unparalleled addition to any portfolio, promising enduring value and growth in Denver's most desirable market.