|Number of units||414|
JLL is pleased to present the exclusive listing of Pilot House, a 414-unit apartment community located in one of Denver’s most highly coveted and supply-constrained submarkets of Lowry.
Ideally positioned along the highly-trafficked Alameda Avenue, Pilot House represents a unique investment opportunity with proven upside potential. Current ownership has completed substantial renovations to the property, inclusive of common area upgrades such as a full clubhouse remodel and the rebuilding of the outdoor pool and spa area, as well as upgrades to unit interiors. In total, 66% of the units have been renovated, with ownership achieving monthly rental premiums of up to $175.
Pilot House’s upside potential is strongly supported by both the desirability of the Lowry area, its proximity to Denver’s urban core, and the access to high-quality employment opportunities, including Cherry Creek, the Fitzsimons Medical District, Downtown Denver, and the Southeast Business Corridor – all within a 15 minute drive. Pilot House’s location provides residents with convenient access to the neighborhood’s eclectic mix of parks and recreational destinations, as well as the burgeoning retail and dining scene. The benefit of having access to Denver’s urban core, strong employment accessibility, and an abundance of lifestyle amenities has drawn a highly affluent resident base to the area. Single-family home prices in the area have seen a 76% increase since 2010, and have continued to drive demand for high-quality and comparatively affordable apartment homes like those offered at Pilot House.
Continued strong demand for high-quality housing in the area combined with a lack of new housing supply is creating a dynamic that will continue to provide ample opportunity for rental growth at Pilot House for the foreseeable future.
- Prime Value-Add Opportunity
- Unique Low-Density Environment
- Highly Coveted Lowry Location
- Excellent Employment Accessibility
- Supply-Constrained Submarket with Strong Fundamentals