Vacant-to-Value: High Upside, Low Basis Multifamily

Asset type: Apartment · Location: Denver, Colorado

Acquire an 85-unit property in Thornton, CO at just $52,900 per unit—100% vacant and primed for transformation. With $1.5M in recent upgrades and a full renovation planned, this deal offers a rare blank slate in a tightening market. Projected investor returns: 24–28% average annual, 2.2–2.4x equity multiple, and 18–20% IRR. There is potential for an 18–24 month exit, dramatically boosting returns, yet we have conservatively underwritten for up to 5 years. Backed by VonFinch’s deep local expertise, The Ambassador is your chance to capitalize on Denver’s strong demand and limited new supply.