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Buyer Profile Series | Investment Condo Buyer Preview

What are we looking at today? Condos near Downtown Denver.

Who are our buyers? A couple with a young daughter who lives full-time in another state, but wants a second home for their frequent travels to Denver. 

These two have a budget of up to $400,000 and want a modern/contemporary one-bedroom or studio condo either in Denver’s LoDo or LoHi (downtown area) neighborhoods. Why just one bedroom? A modern two bedroom in these areas would put them over budget, and a one-bedroom is the perfect size for an easy-to-keep vacation home.

CONDO 1:

The first condo is in LoHi, right next door to Linger and Little Man Ice Cream, and just a block away from the bridge. It’s a great spot: right in the heart of Denver’s super-hot LoDo neighborhood.

What works about this place? Location for sure! It’s also got a dedicated bedroom (some are studios without complete bedroom separation), an open kitchen, and as you can see, it’s got that modern/contemporary look that they love. Built in 2007, it’s also clearly been well-kept: the paint is in good shape and even though it’s 11 years old, it looks like it could be new.

What doesn’t work? They need a workspace separate from the rest of the house. This condo doesn’t have amenities such as a clubhouse or common area. Also, the outdoor patio is kinda small, and right on a really busy sidewalk at street level. He’d only be able to work out here for about 6-7 months out of the year. And, from experience, I can tell that there are so many people who walk by this area, only a few feet away, it’s a pretty distracting arrangement.

CONDO 2:

The second place is on Speer Boulevard: one of Denver’s largest thoroughfares. Because of this, right away, I suspect this isn’t going to be a good fit. But the MLS pictures look great, so I’ll check it out and see!

This condo is also in LoHi. But it’s on an island between several really busy streets, so walkability is really reduced. Walking up to the stoop, you have to go through a really dark hallway that is fighting a bad college dorm feel.

Inside, it’s a large space with high ceilings. The MLS pictures look fantastic, for sure! However, this condo is an even less-likely fit than the last for these buyers. I know that they will not like the street proximity, stairwell, and the balcony overlooks the city, but also quite a lot of the roof on the building next door. And there’s just no separate space for them to work.

CONDO 3:

The last condo is a nice surprise! Built in 2005, it’s across the street from Riverfront Park in Denver’s lower downtown, or LoDo, neighborhood. This place has the contemporary look that they love, it’s got a great view, and it’s across the street from a park so that they can easily take their daughter outside.

Yes, this place has some drawbacks: the bedroom doesn’t have full walls: it’s separate but has that open feel of a studio, so the whole place feels a bit smaller than the other two. Also, the balcony is smaller than the last place and the mountain view is largely obstructed by the buildings across the street. 

However, this condo has something the other two don’t: a full clubhouse! On a higher floor, They can get the separate space needed to get work done, and the clubhouse has a great view! Plus, it has a pool and full gym! 

Will this be the property for them? We’ll dig further into HOA regulations to determine whether they are able to rent the condo when they aren’t there. But other than that, this is a fantastic match!

Stay tuned for future previews!

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