Today we are talking about where we like to see clients buy investment property in Denver. Right now, it’s a big trend for people to flock to downtown Denver, in particular neighborhoods like LoDo, Capitol Hill and the Cheesman Park area. Those areas are really blowing up in the market and that has led to increased prices for properties. An apartment complex that was selling for $50,000 a unit a year ago is now selling for $80,000 or $90,000 or even $100,000 per unit. You aren’t going to be able to find the deals that you could a few years ago. As a result, people have been looking towards suburban areas when buying rental properties.
I am a big fan of neighborhoods that are close to the Highlands. The Central Highlands area won’t be affordable for a lot of people, but areas right near the Highlands like Sunnyside and Wheat Ridge are great places to look for affordable properties.
On the east side of town, you will want to look east from Cheesman Park and Capitol Hill. Along the Colfax Corridor there are a number of quality properties that you can find for a good price, and you’ll also be able to find high quality tenants in the area without that higher downtown price.
If you want to head south of us, we recommend staying in north Englewood or close to the most southern tip of Denver University. Properties close to Platt Park are still very affordable in many ways, especially when you’re comparing to downtown.
These are some of the places throughout the Denver area that we like to see investors buy rental property in. If you have questions or you need help finding a property that will rent well, give us a call at Mavi Unlimited, Residential Property Management Experts.