Denver

We stopped in Denver next on the 2019 Figure 9 Real Estate Multi-Family. Originally, we were planning to stop in Colorado Springs, but we could not find any interesting Value-Add Multi-Family investment opportunities, so we decided to look at Denver.

Here is a summary of what we found:

Stats

Below are a few of the key market indicators:

  • Rent Growth: 3.6%
  • Vacancy: 6.9%
  • Jobs: 1.7%
  • Population Growth: 1.4%

Pros/Cons

Here are some of the PROs and CONs from our impressions:

  • PRO: Solid rent growth
  • PRO: Lots of overall growth in the area
  • CON: Tons of development
  • CON: Hard to find value add deals
  • CON: Challenge for value add to compete with new inventory

Our Impressions

Denver is a cool place, can definitely see the draw to the area. We did not find sufficient Value-Add Multi-Family opportunities on this trip.

Conclusion

We are gong to pass.