Description
Amazing opportunity to build one or two new luxury homes on one of Denver's prettiest streets. The home is livable but needs updates and repairs and is being sold as-is. The highest and best use for this rare 18,000 SF lot is to be subdivided into two 9,000 SF lots with two luxury new builds Other large lots in the neighborhood are typically only 7500 SF and new home sales since 2021 have sold for a median of $3,485,000. This portion of Jackson Street is often described as a country lane in the city. The cottonwood tree-lined street has no cross streets and has lots varying from 1/3 of an acre to 1 1/2 acres. 2445 S Jackson St already has a temporary 2nd address from the city. A survey showing both lots and all information the city needs to sub-divide has been completed. Asbestos testing was done inside and all asbestos has been removed with certification. The lot has two curb cuts and two gates and a new circular driveway that can easily be modified to be reused for two new homes. There is a newer privacy fence in the backyard and wrought iron fencing around the front yard. A two year old home down the street sold recently for $3,245,000 on a slightly smaller lot. Observatory Park's highest price sale is $5,396,000. The median above ground price per square foot for homes built since 2021 was $856 PSF above ground and $580 PSF total. Those new builds sold in a median of 36 days. Observatory Park is a premier Denver neighborhood with two parks and a great location right between downtown Denver and the Denver Tech Center. This property has a HUGE profit potential and is totally ready for redevelopment!
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5BEDS
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0.41ACRES
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3BATHS
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11/2 BATHS
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2,774SQFT
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$721$/SQFT
School Information
Offered by Kentwood Real Estate Cherry Creek.Description
Amazing opportunity to build one or two new luxury homes on one of Denver's prettiest streets. The home is livable but needs updates and repairs and is being sold as-is. The highest and best use for this rare 18,000 SF lot is to be subdivided into two 9,000 SF lots with two luxury new builds Other large lots in the neighborhood are typically only 7500 SF and new home sales since 2021 have sold for a median of $3,485,000. This portion of Jackson Street is often described as a country lane in the city. The cottonwood tree-lined street has no cross streets and has lots varying from 1/3 of an acre to 1 1/2 acres. 2445 S Jackson St already has a temporary 2nd address from the city. A survey showing both lots and all information the city needs to sub-divide has been completed. Asbestos testing was done inside and all asbestos has been removed with certification. The lot has two curb cuts and two gates and a new circular driveway that can easily be modified to be reused for two new homes. There is a newer privacy fence in the backyard and wrought iron fencing around the front yard. A two year old home down the street sold recently for $3,245,000 on a slightly smaller lot. Observatory Park's highest price sale is $5,396,000. The median above ground price per square foot for homes built since 2021 was $856 PSF above ground and $580 PSF total. Those new builds sold in a median of 36 days. Observatory Park is a premier Denver neighborhood with two parks and a great location right between downtown Denver and the Denver Tech Center. This property has a HUGE profit potential and is totally ready for redevelopment!
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