Consider Property Age and Historic Designations
Value limitations from a buyer's perception…
Your neighborhood may consist of multi-unit properties built in the 1950’s, whereas properties in a nearby neighborhood were built in the 1930’s or 40’s. This will play a big part in valuations in Denver and the surrounding areas.
Currently, there is desirability in older, vintage style properties. Multi-unit properties in historical districts can be worth hundreds of thousands of dollars more than same-style properties outside of historic designated neighborhoods.
However, these older properties come with caveats. Your potential buyer may have to bring the property up to modern efficiency standards to maximize rental income to increase the ROI (return on investment). Structural changes will be overseen and approved by the oversight committee of the Landmark Preservation Commission. Their job is to ensure structures maintain historic and physical integrity. Historic neighborhood guidelines could restrict structural changes to the building that may reduce the property’s value in the eyes of a potential buyer or investor.