A local nonprofit addressing poverty has acquired a multifamily building in Denver for $2.4 million to make more affordable housing available near one of its transitional employment sites.

Open Door Ministries purchased the building, at 1521 N. Humboldt St. in Denver’s City Park West neighborhood, on Aug. 23, according to public records.

The building was previously owned by an LLC associated with Denver-based commercial real estate firm Rio Residential. Rio Residential purchased the building in 2015 for nearly $1.92 million, records show.

“Humboldt Housing provides affordable, supportive housing for men, women and families looking to thrive as they seek a stable, sober-living environment within [a] Christian community,” according to ODM’s housing purpose statement. “Potential residents include graduates from Open Door Ministries’ housing programs, graduates from other transitional housing programs, Open Door Ministries staff and others needing this kind of housing.”

Built in 1930, the two-story building has 13 units and spans 8,180 square feet, according to LoopNet. ODM paid roughly $184,600 per unit.

The nonprofit is keeping current tenants in the building for the remainder of their leases and has arranged for two people to move into one empty unit this month, Kat Efaw, ODM’s communications and staff fundraising coordinator, said via email.

Residents don’t have to be Christian to live in a home provided by ODM, the nonprofit says.

“The ultimate purpose is to move people toward full self-sufficiency,” reads the nonprofit’s housing statement. “As such, we do not see this community as a final destination.”

Residents typically live in an ODM property for three years, with rent gradually increasing over time. The nonprofit helps transition residents into more permanent housing and then offers ODM units to others in need.

In addition to housing, ODM provides job training and transitional employment through Street2Life, a print and embroidery shop one block from 1521 N. Humboldt St.

ODM founded Street2Life in 2012. It is one of 18 ministry programs under the ODM umbrella, according to Street2Life’s website.

Other ODM offerings include kids and youth programs, leadership development and community outreach.

ODM is a supporting organization of Open Door Fellowship, which owns 11 properties with operations at two additional properties, Efaw said.