When looking for acquisitions, Denver Development Group focuses on three main tenants: location, accessibility, and potential. Our recent acquisition 1317 Yates serves as a prime example of each of these.
In the heart of the West Colfax area sits 1317 N. Yates. Street, a barren property as of this writing. Last year, the property belonged to a single-family homeowner who opted to sell due to the increased property values in the area. The original home is pictured to the left. As you can see, there isn’t much to note about it.
So what about it, then, makes it a perfect candidate for acquisition?
Location
Location, location, location. If you’ve spent any time in real estate you’ve heard this phrase—nay, this mantra—at least once or twice. Realities of physical plots of land aside, the idea of “location” may be better served with the word “proximity,” as that gives a better idea of what makes a location valuable. If the property is close in proximity to, say, the Cherry Creek Shopping District, that will be reflected in a higher price. If the property is smack dab in the middle of the Midwest Plains, that will be reflected in a much lower price than the Cherry Creek property.
This may be stating the obvious, but it remains a tried-and-true real estate tenant to this day. Right now, the West Colfax area of Denver is blossoming—since the city installed a lightrail station nearby, its appeal has grown even more. Old homes are being scraped and replaced with modern luxury builds, and new businesses are establishing themselves on Colfax Street. The area was already popular thanks to proximity to highways, downtown, and the Mile High Stadium, and its appeal has only grown.
On top of that, the West Colfax areahas been zoned with less restrictions on innovative building, another quality that developers like DDG absolutely love. This gives 1317 Yates even more value in its location than before, and with the other added benefits, it’s a prime property for Denver real estate investment.
Accessibility
Like the first tenant, accessibility is a key feature for any acquisition to have. We brushed on it briefly, but accessibility refers to the ease of access the property has to main thoroughfares. Having quick and easy access to highways and main streets can optimize a buyer’s life in more ways than one. The West Colfax area has a plethora of options for accessibility, and 1317 Yates reaps the rewards of that.
Of course, Colfax Street itself is an important thoroughfare, and so is the nearby highway I-25. South of Colfax lies 6th Avenue, which shoots straight downtown for ease of access. Plus, when you add the recently-installed lightrail station, the West Colfax area only grows in its appeal.
Potential
Admittedly, “potential” is a bit abstract, especially when it comes to a property with a home on it already. It can be hard to see past what’s right before your eyes and see what could be instead. That’s where Denver Development Group comes in. As local industry with over three decades of experience, if there’s anything Denver Development Group can identify, it’s a property’s potential. With the features we’ve listed already for 1317 Yates, the potential is easy to see—but the potential for what?
Our plan is to take the 1317 Yates property and transform it into a beautiful new double-duplex build. DDG has developed a design that is formatted to specifically realize the potential of properties in West Colfax called the Yin-Yang series. These units are optimized for comfort as well as affordability, which make them an integral addition to the West Colfax neighborhood. Coupled with the area’s growing appeal, that sets 1317 N. Yates Street up with some great potential.
Now? That potential just has to be realized.
We at Denver Development Group are constantly looking for investment partners or homebuyers who will work with us to realize their property’s potential. If you’re interested in 1317 Yates or any other opportunities, don’t hesitate to reach out and give us a call.