Case Study: Denver Duplex Investment Review

The Deal at a Glance

In October 2015, Bergan & Company acquired a side-by-side duplex at 56 & 58 S Julian Street in southwest Denver. After five years of hands-on ownership and management, the property sold in August 2020 — delivering a 4.03x equity multiple and a 39.27% IRR.

Property Overview

• Address: 56 & 58 S Julian Street, Denver, CO 80219
• Unit mix: Side A — 4 bed / 2 bath | Side B — 1 bed / 1 bath
• Lot size: 6,229 square feet
• Property type: Duplex (investment / rental)
• Hold period: ~5 years (October 2015 → August 2020)

The Thesis

Southwest Denver in 2015 had two things we look for in a multi-unit investment: entry pricing meaningfully below the broader Denver median, and a location positioned to benefit from Denver's continuing residential growth. A duplex structure delivered two income streams on a single lot, with the flexibility to adjust rents independently across the hold period.

Execution

• In-house management: Bergan handled leasing, rent collection, and maintenance across both sides of the duplex for the full five-year hold.
• Rent progression: rents were adjusted at each renewal to track the rising southwest Denver rental market without triggering unnecessary vacancy.
• Capital discipline: maintenance and improvements were prioritized for items that preserve long-term value and support rent positioning, not cosmetic upgrades.

Results

• Hold period: 5 years
• Equity multiple: 4.03x
• IRR: 39.27%
• Exit: Sold August 2020

The Takeaway

This duplex illustrates the case for long-hold, moderately leveraged small-multifamily investing in Denver: modest acquisition, consistent operations, and patient holding across a full cycle. Steady rent progression, disciplined capital spending, and professional management did the compounding work.

Bergan & Company invests alongside our clients in deals like this one. If you're looking to buy, hold, or grow a Denver-metro rental portfolio, we're here to help.