As inventory remains low and monthly rents continue to rise, the rental market in the Denver metro area is providing lucrative investment opportunities for landlords across the city. However, The Denver Post reported earlier this month that one Denver area in particular has been identified by a recent RealtyTrac report as among one of the Top 25 Hipster Zips in the country.
The 80218 Denver zip code was identified by the report as one of the hottest areas in the Mile High City for rentals and one of the best places in the country for landlords to invest their time and money. With boundaries of East 21st Avenue to the north and East 1st Avenue to the south, as well as York Street to the east and Grant Street to the west, the 80218 zip code includes some of the most sought-after trendiest neighborhoods in the city such as Capitol Hill, Cheesman Park, City Park West and Uptown.
The 80218 Caters to Hip, Younger Generation
According to Census information, the 80218 zip code includes a majority population of 25-39 year olds who live in either single-person or dual households. Located in the heart of downtown and bordering the upscale Cherry Creek residential and retail neighborhoods, the 80218 area is only steps away from trendy restaurants, happening nightlife establishments and tasty coffee shops.
The top five popular restaurants in this zip code, according to UrbanSpoon include:
- WaterCourse in the Uptown Neighborhood at 837 E 17th Ave.
- Pho on 6th in the Country Club Neighborhood at 1312 E. 6th Ave.
- Wokano Asian Bistro in the Capitol Hill Neighborhood at 1078 Ogden St.
- Potager in the Capitol Hill Neighborhood at 1109 Ogden St.
- Fruition in the Country Club Neighborhood at 1313 E 6th Ave.
UrbanSpoon also lists the following top five popular coffee shops in this area:
- Dazbog Coffee in the Capitol Hill and Uptown Neighborhoods at 1201 E. 9th Ave. and 1100 E 17th Ave.
- Illegal Grounds Coffeehouse in the Uptown Neighborhood at 925 East 17th Ave.
- Caffe Sanora in the Capitol Hill Neighborhood at 1201 East Colfax Ave.
- Denver Bicycle Cafe in the City Park Neighborhood at 1308 E. 17th Ave.
- Novo Coffee in the Country Club Neighborhood at 1700 E 6th Ave.
New Developments Capitalize on Trendy Rental Market
To capitalize on the demand for rentals in and around the Downtown Denver area, developers have recently announced plans or are beginning construction on various mixed-used projects that are combining apartments and condos with high-end retail and commercial space. Some of the most recently announced construction projects include:
- ENV Denver at 1000 Speer Boulevard will include a 16-story apartment building with 224 units, 5 floors of parking, a recreation center and pool on the 6th floor, as well as four townhome units on the first two floors facing Cherokee St. 2
- The Cherry Creek East Neighborhood will feature a 297 unit apartment project at 360 South Monroe St. The 8-story building will cover two-thirds of a block and include structured parking. 2
- The Steele Creek retail and apartment project on the southeast corner of 1st Ave. and Steele St. will include 218 rental apartments and about 17,000 square feet of retail space.
- While new condo developments are scarce in and around downtown, you can head just west of the downtown to Jefferson Park where 21 condominiums are underway at the CLAY/28th development. Or, just North of the city, 27 city-living brownstones are being developed at The Glenarm building (2137 Glenarm), which is located at the edge of Denver’s downtown high rises.
If you’re considering the options of investing in the Denver rental market, trends and reports are pointing toward rental opportunities in the neighborhoods in and around the 80218 zip code. If you need help pinpointing the best rental properties to invest in, give the Denver real estate experts at New Era Realty a call. They can help you find the best Denver rental investments in the high demand Downtown Denver neighborhoods of Capitol Hill, Cheesman Park, City Park West, Uptown and Cherry Creek.