Allure also features an established and proven value-add opportunity. Current ownership has completed renovations on 30% of the units, as well as many major projects to the exterior and common areas of the property, offering investors the opportunity to complete renovations on the remaining 70% of unit interiors to capture significant additional upside. Additional exterior upgrade opportunities exist, including installation of gas grills, an on-site dog park and covered parking to further increase revenue for a new owner. Competing properties in the submarket command monthly rents $200+ higher than those at Allure, and properties located directly within Cherry Creek or the Southeast Business Corridor command even higher premiums, showing a clear ability to increase rents and realize significant NOI growth.
JLL is pleased to present the exclusive listing of Allure, a 252-unit, value-add apartment community featuring large units (averaging more than 1,000 SF) and located within the desirable Cherry Creek School District in Denver, Colorado. Allure also enjoys easy access to many of Denver’s chief employment centers, including the Fitzsimons Medical Campus, Lowry and the Southeast Business corridor. In addition to exceptional proximity to employment, Allure is conveniently located near an abundance of retail amenities, including Lowry, Gardens on Havana and Cherry Creek, Colorado’s premier shopping destination.