Riverpoint Apartments

JLL has been retained as the exclusive investment advisor in the sale of Riverpoint Apartments (“Riverpoint”), a 42-unit apartment community located within the Southwest Denver submarket. Completed in 1971, Riverpoint consists of one and two-bedroom homes and presents immediate value-add upside through the completion of an interior renovation program on the remaining 21 unrenovated units. Riverpoint Apartments offers an assumable loan at a 3.35% fixed rate with 5 years remaining on the term. With outstanding proximity to the I-25 & Broadway light rail and bus station, Riverpoint Apartments are located mere minutes from major employment hubs such as downtown Denver, South Colorado & I-25 corridor, and Cherry Creek, providing residents seamless access to numerous employment, travel, and leisure amenities.

Renovated from 2022 to 2024, Riverpoint offers a unique opportunity for investors to acquire and continue implementing a strategic value-add program, focused on interior upgrades. These interior upgrades include Whirlpool appliances, hard surface countertops, new cabinet fronts and faucets, vinyl plank flooring, and bathroom vanity and shower fixture enhancements. Renovated units are achieving $150-$250 rent premiums on $10K-$12K interior upgrade packages. Current ownership has invested nearly $800K across capital expenditures, primarily focusing on exterior improvements, deferred maintenance, and common area upgrades. This position allows a future owner to realize premium rents within a strong-performing submarket. 

The acquisition of Riverpoint Apartments presents an enticing opportunity to acquire a transit-oriented community with a proven track record of success in the thriving Southwest Denver submarket.