Map of Property

Rustic Arms and Rustic Aire Apartments

For Sale

3445 South Downing Street & 3440 S Corona Street, Englewood, CO 80113

This Englewood property for sale is located at 3445 South Downing Street & 3440 S Corona Street. The current listed sale price for Rustic Arms and Rustic Aire Apartments is $14,500,000. Rustic Arms and Rustic Aire Apartments is situated on a lot that is 1.06 acre in size.

Contacts

broker

Jim Knowlton

Pinnacle Real Estate Advisors

Property Details

  • Property Type Multi-Family
  • Property Size 45,576 SF
  • Units 71
  • Lot Size 1.06 Acre
  • Additional Rent Contact for pricing
  • Parking Spaces Avail. 66
  • Year Built 1968
  • Year Renovated 2023
  • Date Updated Sep 17, 2024
The Knowlton Lawson team is pleased to present the opportunity to purchase the Rustic Aire and Rustic Arms Apartments, two adjacent and individually deeded properties located at 3440 S Corona and 3445 S Downing, Englewood CO. These properties offer a combined total of 71 units, with 23 units at Rustic Aire and 48 units at Rustic Arms. Located just one block from Swedish Medical Center and Craig Hospital, the properties are also just one mile from Porter Hospital. They are within walking distance to a variety of restaurants and retail on E Hampden Ave, three-quarters of a mile from South Broadway restaurants and retail, two miles from the University of Denver, and one mile from Safeway and King Soopers Fresh.The Knowlton Lawson team is pleased to present the opportunity to purchase the Rustic Aire and Rustic Arms Apartments, two adjacent and individually deeded properties located at 3440 S Corona and 3445 S Downing, Englewood, CO. These properties offer a combined total of 71 units, with 23 units at Rustic Aire and 48 units at Rustic Arms. This investment offers significant rental upside to a new Buyer both in as-is condition and post-renovation. There is individual assumable debt available on both properties. The interest rate for each loan is fixed at 3.27% for another 7 years at an LTV of 55% of the list price. Roughly twenty percent of the units have already been updated. In addition to the unit updates, recent capital improvements include a new boiler installed at Rustic Arms in 2023/2024, new asphalt overlay, and striping on parking lots, all stairwell treads replaced across both properties, and 70% of the AC units have been replaced over the last 3 years. The properties feature beautifully landscaped courtyards, onsite laundry facilities, an onsite leasing office, and BBQ area for tenants. The seller is willing to sell the properties individually but would prefer to execute a transaction with one Buyer for both properties. The coveted location combined with recent upgrades, assumable debt, and significant/immediate rental upside provides a Buyer a great opportunity to add significant value.

Want more info on this listing?

Reach out to the broker for more info on lease terms and amenities

Highlights

  • New Asphalt Overlay on Parking Lots and Striping (Aire/Arms)
  • New Boiler in Rustic Arms (2023/2024), New Boiler Aire (2024)
  • All Treads on Stairwells Replaced (Aire/Arms)
  • Meticulously Landscaped Grounds (Aire/Arms)

Attachments

Getting around

  • 80/100

    Walk Score ®

  • 38/100

    Transit Score ®

  • 58/100

    Bike Score ®

Powered by Walk Score ®

Location

  • City Englewood, CO
  • Zip Code 80113
  • Market Denver

Points of Interest

  • Bakken Motorcars

    1.49 miles

  • 10th & Osage

    5.63 miles

  • Union Station Light Rail Plaza

    7.17 miles

  • 7-Eleven

    0.09 miles

  • Shell

    0.48 miles

  • Conoco

    0.75 miles

  • Sinclair

    1.25 miles

  • Valero

    1.61 miles

  • ChargePoint

    1.86 miles

  • Costco Gasoline

    1.96 miles

  • Blink

    3.66 miles

  • SemaCharge

    3.68 miles

  • Electrify America

    4.39 miles

  • Craig Patient & Family Parking (South)

    0.19 miles

  • Craig Patients & Family (Handicapped Only)

    0.19 miles

  • Swedish East Garage

    0.22 miles

  • Craig Hospital Employee Parking (North)

    0.23 miles

  • Craig Hospital Employee Garage

    0.24 miles

  • Valet

    0.28 miles

  • Swedish South Garage

    0.33 miles

  • Swedish MC

    0.39 miles

  • Marks Home

    0.31 miles

  • Holiday Motel

    1.50 miles

  • Lucky U Motel

    1.61 miles

  • Red Pine Motel

    2.45 miles

  • InTown Suites Extended Stay Denver CO - Englewood

    2.64 miles

  • Fairfield Inn & Suites

    2.85 miles

  • Courtyard Denver Cherry Creek

    3.04 miles

  • TownePlace Suites Denver Southeast

    3.16 miles

  • Woodspring Suites Littleton South Denver

    3.16 miles

  • Essex House Motel

    3.36 miles

  • Safeway

    0.59 miles

  • King Soopers

    0.71 miles

  • Big Lots

    0.83 miles

  • Walmart Supercenter

    1.13 miles

  • Ross

    1.15 miles

  • Target

    1.70 miles

  • Sprouts Farmers Market

    1.96 miles

  • Vitamin Cottage Natural Grocers

    2.40 miles

  • TJ Maxx

    3.29 miles

  • General Store 45

    3.61 miles

In-Depth Research Available for this Property

Access more in-depth information about this property — including ownership, tenant details, property characteristics and transaction history, along with local market insights and much more — on CommercialEdge.

Contact Listing Broker

broker

Jim Knowlton

Pinnacle Real Estate Advisors