Exterior View of the Monarch Mills Lofts

1475 Delgany Street, Unit 510 – Monarch Mills Lofts
$208,000 – UPDATE!  Under Contract September 8th

1 bed / 1 bath

902 Square Feet

List Date:  8/29/2008

MLS #696747

Taxes:  $2,144 / year

HOA Dues:  $227 / month

Listing Data courtesy of IDX and RE/MAX Alliance

For a showing, email dansullivan@remax.net, or call Dan at 303-875-1401

This is an incredible deal in the Monarch Mills Lofts.  At a price of $230 per square foot, this would be the lowest sale since 2005 (on a per square foot basis).  Units have been selling at an average of $295 per square foot since November 2005.  In 2008, there have been four sales in the Monarch Mills Lofts, at an average of $344 per square foot. 

Unit 408 (1 bed / 1 bath, 821 square feet) was listed in February of 2008, and went under contract the first day.  It sold for $206,952 ($252 per square foot).

The Monarch Mills lofts are a modern loft project, built in 2005.  The building is located at the intersection of Delgany and 15th – close to Elitches, Commons Park, Union Station, and the popular Riverfront Park Area.

Income restrictions apply to this property.  In addition, the deed restrictions limit the annual appreciation at 3% per year, and the units must be sold to other buyers who meet the affordable housing requirements.  Please call for additional information about Denver’s affordable Housing Initiative – If you meet the requirements, it can be a great opportunity..

No matter how I look at this, it seems to be a great opportunity.  It is a HUD listing, and bids are being accepted thru September 7th – I will be surprised if it lasts past that date.  Please call if you would like more information on HUD listings.

For details on all active Monarch Mills listings, go here.

Monarch Mills Lofts