Introduction
Welcome to Denver, where the best urban and suburban living meets. This is why the location of your investment is so important: it can mean the difference between a higher return on your money and first-class tenants. Welcome to our in-depth update on some of Denver's prime neighborhoods, where investments in rental properties continue to yield the highest returns.
Capitol Hill is not the only option: River North provides an artistic community, and Cherry Creek reflects style and intellectual standing. Wherever your preferences lie, Denver is the kind of city that will pique an investor's curiosity and aspirations. Let's dive in!
Capitol Hill
Rental Demand
Known as one of the fast-paced and hustling neighborhoods, Capitol Hill combines its historical architecture with a bustling nightlife scene and cultural charm. Being central and within walking distance of downtown Denver, it gets a ton of corporate rentals who want to be in the mix of things. For that matter, the area is broadly appealing across different demographics. It attracts constant rental demand from young professionals, students, and artists alike.
Property Appreciation
Capitol Hill has a history of stable appreciation rates, encapsulating an ideal location, historic charm, and continual reinvention that drives appreciation. Investors are generally very bullish on their assessment that their own real estate will hold its value.
Amenities
Capitol Hill also offers an array of amenities, from nightlife and trendy food and drink establishments to art galleries and funky boutiques. The neighborhood has abundant parks and green areas, contributing to the recreation and relaxation atmosphere. Additionally, it is enriched by its location, a modest distance from some of the most prominent cultural institutions, including the Denver Art Museum and the Colorado State Capitol.
Highland
Rental Demand
Highland — also known as LoHi (Lower Highlands) is one of the hippest regions in Denver, drawing a rental market driven by the ambiance and culture. Highland offers everything from historic homes to modern developments to stunning views of downtown Denver.
Property Appreciation
The property value has skyrocketed in Highland over the last several years, backed by the increase in proximity to downtown Denver, accelerated restaurant expansion, and the spirit of community. This equates to a long-term appreciation for Highland real estate investors as the neighborhood and demand increase.
Amenities
Living in Highland allows you to experience countless artesian restaurants, craft breweries, and local shopping stores. The Highland is also home to its Bohemian art and culture district. Being primarily an art gallery, studio, and cultural district with such district festivals throughout the year, the atmosphere there will be lively and full of life. It is also near attractions such as Highland Bridge and Sloan's Lake Park, which provide lots of open space for outdoor enjoyment.
Washington Park
Rental Demand
The Washington Park neighborhood, often shortened to Wash Park, has always been associated with parks, beauty, and an outdoor lifestyle. The park stretches over 160 acres and includes jogging trails, sports fields, and scenic picnic areas. It has a laid-back feel and a great sense of community, ideal for renters searching for a suburban sanctuary in the city.
Property Appreciation
Generally, the Park Hill homes for Frederick Douglass High School and Washington Park hold their values well, so there are a few below the median. As such, it is known as one of the absolute best communities to break into when it comes to living or getting a home.
Amenities
In addition to the expansive park, there are a few amenities at Washington Park, like great cafés, some boutiques, and the local market. The countless trees and handsome old houses on the streets in this neighborhood, of course, provide that extra charm. So, step into the thought of suburban peace with an urban touch. The term “Wash Park” means access from downtown Denver is a breeze, and getting there is a straight shot on one of the most direct highways.
RiNo (River North Art District)
Rental Demand
RiNo is now recognized as the heart of Denver, beating in an eclectic mix of art and culture. Typically regarded as a desert, Denver and this neighborhood have changed over the years and even brought creatives together who were artists, entrepreneurs, or people from big city life to live creatively. The hustle and bustle and beautiful sites are some magnets that draw those to seek an urban life.
Property Appreciation
RiNo overall has seen significant property appreciation, given the absurd rate of gentrification in that part of town and its burgeoning cool 'n quirky creative scene. Investors can anticipate their property in RiNo to experience enormous appreciation during the hold time, paralleling similar transformations and revitalization around the city.
Amenities
Around the neighborhood, RiNo provides residents with visually appealing amenities such as galleries, studios, and performance spaces featuring new stylists of contemporary art design. Unique craft breweries, hipster/rock-star attitude bars, and classy eateries are all across the neighborhood. RiNo also hosts cultural events and festivals throughout the year, giving way to its vibrant community spirit.
Cherry Creek
Rental Demand
Cherry Creek is renowned for its high-end luxury accommodations mixed with an array of exquisite shopping and fine dining. It's an upscale, refined area southeast of downtown Denver that caters to the affluent renter seeking a higher-quality living space. This is one of the top retail shopping districts in their submarket, coupled with its Cherry Creek Shopping Center.
Property Appreciation
Cherry Creek properties see some of the highest rental rates in Denver. As such, rents steadily increase year-over-year along with appreciation, thanks to affluent demographics and strong market demand. Beyond just a name, it's an address that any homeowner would love to own, and the residential streets are clean and well-kept, which ensures its value.
Amenities
This neighborhood is ideal if you crave luxurious amenities, featuring upscale boutiques and fancy dining options. Not to mention, the Cherry Creek Shopping Center is anchored by high-end stores like Neiman Marcus. With tree-lined streets and manicured parks for a backdrop, it has elegant living spaces that are second to none. With quick access to the Cherry Creek Trail, you will also find urban outdoor recreation within minutes of your front door! Cherry Creek is the perfect combination of luxury lifestyle and metropolitan convenience in a premier Denver neighborhood.
Conclusion
In other words, investors can look to these insights as they pick the perfect location for their rental properties in Denver based on each neighborhood's most demanded and appreciated property types, with every local amenity at their fingertips. From vibrant city life to peaceful, suburban charm, Denver has hundreds of neighborhoods offering something for each real estate investor.
About Us
Walters & Company Property Management proudly offers spectacular property management services in the Greater Denver Metro area. We strongly believe great property management creates better housing, happier tenants, and more profitable investing. Whether you are seeking to purchase an investment property or creative solutions to current rental challenges, our team is on your side. As leaders in the Denver property management arena, we are continuously looking for ways to meet and exceed expectations.
We strictly follow the Fair Housing Act and never discriminate against a person based on race, color, religion, sex, handicap, familial status, or national origin. We are also proud members of the National Association of Residential Property Managers (NARPM), and they educate us not only on the law and any news items that affect the industry but also provide ways to improve service.
Disclaimer
This blog is intended to provide informational, general guidance and should not be taken or used as legal or investment advice. While we try to provide the most accurate and up-to-date information available, market conditions may be quite turbulent, and we strongly suggest that investors seek advice from a professional investment advisor before making any investment. Walters & Company Property Management accepts no liability for any adverse results that come from the information contained in this manual.